Gender & Finance presented at the Department of Finance at the University of Lausanne and the Swiss Finance Institute at EPFL
![Prof. François Longin ESSEC Business School](https://genderfinance.net/wp-content/uploads//2021/06/img_Photo_Gender_finance_Francois_Longin.png)
![](https://genderfinance.net/wp-content/uploads/2021/06/img_Photo_Gender_finance_Estefania_Santacreu_Vasut.png)
Gender & Finance recently presented its research at the research seminar in finance of the University of Lausanne and the Swiss Finance Institute at EPFL: Is Gender in the Pocket of Investors? Identifying Gender Homophily Towards CEOs in a Lab Experiment on December 4th 2020. The presentation took place online due to COVID-19 travel restrictions. 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.
![](https://genderfinance.net/wp-content/uploads/2022/08/Capture-décran-2022-08-26-à-09.43.27.png)
We received interesting feedback from PhD students and Professors.
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 unify three theoretical explanations: gender stereotypes, double standards and in-group biases.
- 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
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