Will Women Be Women? Analyzing the Gender Difference among Financial Experts

Daniela Beckmann and Lukas Menkhoff

Hannover Economic Papers (HEP) from Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät

Abstract: There are robust gender differences in the domains of risk taking, overconfidence and competition behavior. However, as expertise tends to level these differences, we ask whether financial experts still show gender dissimilarities in their domains of decision making? We analyze survey responses of 649 fund managers in the U.S., Germany, Italy and Thailand, and find that female fund managers tend to behave as expected from gender studies: they are more risk averse and shy away from competition in the tournament scenario. The expected lower degree of overconfidence by women is yet so small that it becomes insignificant in fund management.

Keywords: fund managers; gender differences; risk; overconfidence; tournament behavior (search for similar items in EconPapers)
JEL-codes: D8 G23 J16 (search for similar items in EconPapers)
Pages: 24 pages
Date: 2008-02
New Economics Papers: this item is included in nep-sea
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Citations: View citations in EconPapers (61)

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Journal Article: Will Women Be Women? Analyzing the Gender Difference among Financial Experts (2008)
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