Details
| Original language | English |
|---|---|
| Pages (from-to) | 107-126 |
| Number of pages | 20 |
| Journal | Scottish Journal of Political Economy |
| Volume | 58 |
| Issue number | 1 |
| Early online date | 10 Dec 2010 |
| Publication status | Published - Feb 2011 |
Abstract
Based on a sample of 467 asset managers from four countries we robustly find that women manage smaller funds than men, despite tough competition in this industry. Interestingly, the gender gap exists only for managers of smaller funds, i.e. at the lower end of the hierarchy, as quantile regressions show. This is inconsistent with the glass ceiling hypothesis. Going further, this gender gap is limited to large firms. Explanations may refer to large firms using market power in the area of smaller funds or to 'visibility' among top asset managers protecting against unequal treatment of the sexes.
ASJC Scopus subject areas
- Social Sciences(all)
- Sociology and Political Science
- Economics, Econometrics and Finance(all)
- Economics and Econometrics
Sustainable Development Goals
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In: Scottish Journal of Political Economy, Vol. 58, No. 1, 02.2011, p. 107-126.
Research output: Contribution to journal › Article › Research › peer review
}
TY - JOUR
T1 - Do Women Manage Smaller Funds?
AU - Hübler, Olaf
AU - Menkhoff, Lukas
N1 - Acknowledgements: We very much appreciate the contributions made by the fund managers whowere available for interviews and took time to respond to the survey. We thankthe Investment Management Associations in Germany and Italy for theprovision of supportive recommendation letters. Furthermore, we are gratefulto Torben Lu ̈tje, Michael Melvin and Luca Rebeggiani in helping us to conductthe survey and we thank Thomas Cornelien, Bernd Fitzenberger, KnutGerlach, Dominik Hu ̈bler, Janice Madden, Gesine Stephan and an anonymousreferee for helpful comments. Last, but not least, financial support by theVolkswagen Foundation is gratefully acknowledged
PY - 2011/2
Y1 - 2011/2
N2 - Based on a sample of 467 asset managers from four countries we robustly find that women manage smaller funds than men, despite tough competition in this industry. Interestingly, the gender gap exists only for managers of smaller funds, i.e. at the lower end of the hierarchy, as quantile regressions show. This is inconsistent with the glass ceiling hypothesis. Going further, this gender gap is limited to large firms. Explanations may refer to large firms using market power in the area of smaller funds or to 'visibility' among top asset managers protecting against unequal treatment of the sexes.
AB - Based on a sample of 467 asset managers from four countries we robustly find that women manage smaller funds than men, despite tough competition in this industry. Interestingly, the gender gap exists only for managers of smaller funds, i.e. at the lower end of the hierarchy, as quantile regressions show. This is inconsistent with the glass ceiling hypothesis. Going further, this gender gap is limited to large firms. Explanations may refer to large firms using market power in the area of smaller funds or to 'visibility' among top asset managers protecting against unequal treatment of the sexes.
UR - http://www.scopus.com/inward/record.url?scp=78650155889&partnerID=8YFLogxK
U2 - 10.1111/j.1467-9485.2010.00537.x
DO - 10.1111/j.1467-9485.2010.00537.x
M3 - Article
AN - SCOPUS:78650155889
VL - 58
SP - 107
EP - 126
JO - Scottish Journal of Political Economy
JF - Scottish Journal of Political Economy
SN - 0036-9292
IS - 1
ER -