Access the full text.
Sign up today, get DeepDyve free for 14 days.
R. Dhar, Ning Zhu (2006)
Up Close and Personal: Investor Sophistication and the Disposition EffectManag. Sci., 52
B. Barber, Terrance Odean, Paul Thomas, David Moore, Paine Webber, Del Guercio, David Hirshleifer, Andrew Karolyi, Tim Loughran, Edward Opton, Sylvester Schieber, A. Shleifer, Martha Starr-Mccluer, Richard Thaler, Luis Viceira (2001)
Boys Will Be Boys: Gender, Overconfidence, and Common Stock Investment* the Gallup Organization for Providing Survey Data. We Appreciate the Comments of Diane
Gervais Gervais, Odean Odean (2001)
Learning to be OverconfidentReview of Financial Studies, 14
Kahneman Kahneman, Tversky Tversky (1979)
Prospect TheoryEconometrica, 47
M. Glaser, Thomas Langer, Martin Weber (2005)
Overconfidence of Professionals and Lay Men : Individual Differences Within and Between Tasks?
D. Levine (1993)
Fairness, Markets, and Ability to Pay: Evidence from Compensation ExecutivesThe American Economic Review, 83
Menkhoff Menkhoff, Schmidt Schmidt, Brozynski Brozynski (2006)
The Impact of Experience on Risk Taking, Overconfidence, and Herding of Fund ManagersEuropean Economic Review, 50
S. Atkinson, S. Baird, Melissa Frye (2003)
Do Female Mutual Fund Managers Manage DifferentlyJournal of Financial Research, 26
J. Chevalier, Glenn Ellison (1998)
Career Concerns of Mutual Fund ManagersIndustrial Organization & Regulation eJournal
L. Vassie, P. Slovic, Baruch Fischhoff, S. Lichtenstein (2005)
Facts and Fears: Understanding Perceived RiskPolicy and Practice in Health and Safety, 3
Schubert Schubert, Brown Brown, Gysler Gysler, Brachinger Brachinger (1999)
Financial Decision‐MakingAmerican Economic Review, 89
E. Lenney (1977)
Women's self-confidence in achievement settings.Psychological Bulletin, 84
Olsen Olsen, Cox Cox (2001)
The Influence of Gender on the Perception and Response to Investment RiskJournal of Behavioral Finance, 2
U. Gneezy, M. Niederle, A. Rustichini (2003)
Performance in Competitive Environments: Gender DifferencesQuarterly Journal of Economics, 118
J. Graham (1998)
Herding Among Investment Newsletters: Theory and EvidenceCapital Markets eJournal
L. Wood, P. Gibson, M. Garg (1980)
About the AuthorsThe Australian Journal of Language and Literacy, 32
(2006)
Investor Competence, Trading Frequency, and Home Bias, AFA
Josef Lakonishok, Andrei Shleifer, Robert Vishny (1992)
The Structure and Performance of the Money Management Industry, 23
K. Brown, W. Harlow, L. Starks (1996)
Of Tournaments and Temptations: An Analysis of Managerial Incentives in the Mutual Fund IndustryJournal of Finance, 51
Barber (2001)
Boys Will Be BoysQuarterly Journal of Economics, 116
Alexei Goriaev, Theo Nijman, B. Werker (2005)
Yet another look at mutual fund tournamentsJournal of Empirical Finance, 12
B. Donkers, B. Melenberg, A. Soest (1999)
Estimating Risk Attitudes using Lotteries: A Large Sample ApproachJournal of Risk and Uncertainty, 22
Annika Sundén, Brian Surette (1998)
Gender Differences in the Allocation of Assets in Retirement Savings PlansThe American Economic Review, 88
D. Kahneman (2007)
Prospect Theory : An Analysis of Decision under Risk Author ( s ) :
Niederle Niederle, Vesterlund Vesterlund (2007)
Do Women Shy Away from Competition? Do Men Comepete Too Much?Quarterly Journal of Economics, 122
Ulrich Schmidt, Stefan Traub (2002)
An Experimental Test of Loss AversionJournal of Risk and Uncertainty, 25
Heath Heath, Tversky Tversky (1991)
Preferences and BeliefJournal of Risk and Uncertainty, 4
Blinder (2000)
Central-Bank CredibilityAmerican Economic Review, 90
M. Lundeberg, P. Fox, Judith Punćcohaŕ (1994)
Highly Confident, but Wrong: Gender Differences and Similarities in Confidence Judgments.Journal of Educational Psychology, 86
Richard Deaves, Erik Lueders, Guo Luo (2003)
An Experimental Test of the Impact of Overconfidence and Gender on Trading ActivityAmerican Finance Association Meetings (AFA)
N. Jianakoplos, A. Bernasek (1998)
ARE WOMEN MORE RISK AVERSEEconomic Inquiry, 36
Thomas Dohmen, A. Falk, David Huffman, J. Schupp, U. Sunde, G. Wagner (2005)
Individual Risk Attitudes: New Evidence from a Large, Representative, Experimentally-Validated SurveyPublic Health Law & Policy
N. Datta, Gupta, A. Poulsen, M. Villeval, Nabanita Gupta
Gate Groupe D'analyse Et De Théorie Économique Male and Female Competitive Behavior -experimental Evidence Male and Female Competitive Behavior– Experimental Evidence 1 Les Comportements Des Hommes Et Des Femmes Face À La Compétition - Analyse Expérimentale
R. Dhar, Ning Zhu (2002)
Up Close and Personal: An Individual Level Analysis of the Disposition EffectFEN: Behavioral Finance (Topic)
D. Kahneman, A. Tversky (1979)
Decision, probability, and utility: Prospect theory: An analysis of decision under risk
R. Schubert, Martin Brown, M. Gysler, H. Brachinger (1999)
Financial Decision-Making: Are Women Really More Risk-Averse?The American Economic Review, 89
Lukas Menkhoff, Ulrich Schmidt, Torsten Brozynski (2006)
The impact of experience on risk taking, overconfidence, and herding of fund managers: Complementary survey evidenceEuropean Economic Review, 50
(2000)
Central-Bank Credibility: Why Do We Care? How Do We Build It? American Economic Review
Robert Olsen, C. Cox (2001)
The Influence of Gender on the Perception and Response to Investment Risk: The Case of Professional InvestorsJournal of Psychology and Financial Markets, 2
Catherine Eckel, P. Grossman (2008)
Men, Women and Risk Aversion: Experimental Evidence
Harry Paarsch, Bruce Shearer (2007)
Do women react differently to incentives? Evidence from experimental data and payroll recordsEuropean Economic Review, 51
B. Biais, D. Hilton, Karine Mazurier, S. Pouget (2005)
Judgmental Overconfidence, Self-Monitoring and Trading Performance in an Experimental Financial MarketExperimental Studies eJournal
L. Vesterlund, M. Niederle (2004)
Do Women shy away from Competition
Steven Mann, Peter Locke (2001)
House Money and Overconfidence on the Trading FloorCapital Markets: Market Microstructure eJournal
U. Gneezy, A. Rustichini (2004)
Gender and competition at a young ageThe American Economic Review, 94
A. Kapteyn, Federica Teppa (2002)
Subjective Measures of Risk Aversion and Portfolio Choice
Lukas Menkhoff (2001)
Short-Term Horizons in Foreign Exchange? Survey Evidence from Dealers and Fund ManagersKyklos, 54
Thomas Oberlechner, C. Osler (2008)
Overconfidence in Currency MarketsAmerican Finance Association Meetings (AFA)
Rachel Croson, N. Buchan (1999)
Gender and Culture: International Experimental Evidence from Trust GamesThe American Economic Review, 89
(2007)
Do Social Biases Influence Market’s Interpretation of New Public Information?,Working Paper, University of Texas at Austin
Michael Clement, Senyo Tse (2005)
Financial Analyst Characteristics and Herding Behavior in ForecastingJournal of Finance, 60
C. Campbell, Kunal Kamlani (1997)
The Reasons for Wage Rigidity: Evidence From a Survey of FirmsQuarterly Journal of Economics, 112
H. Shefrin, M. Statman (1985)
The disposition to sell winners too early and ride losers too long
G. Constantinides (1985)
The Disposition to Sell Winners Too Early and Ride Losers Too Long: Theory and Evidence: DiscussionJournal of Finance, 40
James Byrnes, David Miller, William Schafer (1999)
Gender differences in risk taking: A meta-analysis.Psychological Bulletin, 125
Chevalier (1999)
Career Concerns of Mutual Fund ManagersQuarterly Journal of Economics, 114
Levine Levine (1993)
Fairness, Markets, and Ability to PayAmerican Economic Review, 83
Graham Graham (1999)
Herding Among Investment NewslettersJournal of Finance, 54
Estes Estes, Hosseini Hosseini (1988)
The Gender Gap on Wall StreetJournal of Psychology, 122
Thomas Dohmen, A. Falk (2006)
Performance Pay and Multi-Dimensional Sorting: Productivity, Preferences and GenderIZA: General Labor Economics (Topic)
Clifton Green, Narasimhan Jegadeesh, Yue Tang (2009)
Gender and Job Performance: Evidence from Wall StreetFinancial Analysts Journal, 65
C. Heath, A. Tversky (1991)
Preference and belief: Ambiguity and competence in choice under uncertaintyJournal of Risk and Uncertainty, 4
R. Estes, J. Hosseini (1988)
The Gender Gap on Wall Street: An Empirical Analysis of Confidence in Investment Decision MakingThe Journal of Psychology, 122
Simon Gervais, Terrance Odean (1997)
Learning to Be OverconfidentBehavioral & Experimental Finance
Claes Bengtsson, Mats Persson, Peter Willenhag (2005)
Gender and overconfidenceEconomics Letters, 86
Jeffrey Busse (1998)
Another Look at Mutual Fund TournamentsJournal of Financial and Quantitative Analysis, 36
Robert Barsky, Miles Kimball, F. Juster, M. Shapiro (1995)
Preference Parameters and Behavioral Heterogeneity: An Experimental Approach in the Health and Retirement SurveyNBER Working Paper Series
P. Dwyer, J. Gilkeson, J. List (2002)
Gender differences in revealed risk taking: evidence from mutual fund investorsEconomics Letters, 76
E. Sirri, P. Tufano (1998)
Costly Search and Mutual Fund FlowsJournal of Finance, 53
Martin Weber, Frank Welfens (2007)
An individual level analysis of the disposition effect: empirical and experimental evidence
Dwyer Dwyer, Gilkeson Gilkeson, List List (2002)
Gender Differences in Revealed Risk TakingEconomics Letters, 76
Gneezy Gneezy, Niederle Niederle, Rustichini Rustichini (2003)
Performance in Competitive EnvironmentsQuarterly Journal of Economics, 118
Donkers Donkers, Melenberg Melenberg, Van Soest Van Soest (2001)
Estimating Risk Attitudes Using LotteriesJournal of Risk and Uncertainty, 22
(2006)
CFR-Working Paper NO . 06-01 Sex Matters : Gender and Mutual Funds
SUMMARY 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.
Kyklos International Review of Social Sciences – Wiley
Published: Aug 1, 2008
Read and print from thousands of top scholarly journals.
Already have an account? Log in
Bookmark this article. You can see your Bookmarks on your DeepDyve Library.
To save an article, log in first, or sign up for a DeepDyve account if you don’t already have one.
Copy and paste the desired citation format or use the link below to download a file formatted for EndNote
Access the full text.
Sign up today, get DeepDyve free for 14 days.
All DeepDyve websites use cookies to improve your online experience. They were placed on your computer when you launched this website. You can change your cookie settings through your browser.