Gender & Finance presented at EM Strasbourg Business School LaRGE seminar
Gender & Finance recently presented its research at the LaRGE seminar of EM Strasbourg Business School. The presentation took place in Strasbourg on March 13th 2020. Gender & Finance Co-founder and Associate Professor Estefania Santacreu-Vasut presented experimental research on the stock market reaction to CEO appointments as function of gender.
LaRGE (Management and Economics Research Center, UR 2364) is the University of Strasbourg’s research center focused on finance. We had interesting feedback from PhD students and professors.
During the session we presented our paper Is Gender in the Pocket of Investors? Identifying Gender Homophily Towards CEOs in a Lab Experiment which is based on a lab experiment.
Three stylized facts
At the seminar, we motivated our research with three stylized facts:
Fact #1: Women are under-represented in CEO positions.
Fact #2: Stock markets in the US react more negatively to the appointment of a female CEO than to that of male CEO.
Fact #3: Women are under-represented also in finance related educational and professional arenas.
We presented how our research can provide a unified explanation of the three stylized facts.
- To do so, we rely on insights from sociology and behavioral economics
- We build a trading experiment to study how individual investors react to CEO appointments
- We causally identify the role of investors preferences and quantify the role of investors’ gender diversity on the aggregate stock market reaction
- In short, we find evidence of gender homophily among investors which can rationalize the relation between facts #1, #2 and #3
Research on behavioral finance
Professor Laurent WEILL and Francis Osei-Tutu discussed with us their very interesting work “How Language Shapes Bank Risk Taking“
Slides
Contact us for more information or for research collaborations! And check our presentation slides!
Prof. François Longin and Prof. Santacreu-Vasut
ESSEC Business School