IDEAS home Printed from https://ideas.repec.org/a/eee/finana/v96y2024ipas1057521924004642.html
   My bibliography  Save this article

Gender balance in academia: Evidence from finance departments

Author

Listed:
  • Bajo, Emanuele
  • Barbi, Massimiliano
  • Hillier, David

Abstract

Females are underrepresented in academic finance departments, especially among senior faculty. Using information on 2910 finance scholars from 387 universities worldwide, we show that although females have become more common in finance departments over the past 30 years, yet only one in ten full professors are women. We explore whether this gap is associated with a lower likelihood of female faculty transitioning into higher academic ranks and find no significant difference between the sexes. While we cannot rule out the existence of a glass ceiling impacting women, partly due to their higher exit rates from the profession, we primarily attribute the low representation of female finance professors to historic male-centric recruitment activity. Due to the length of time for early-career academics to reach full professor status, gender imbalance at the most senior levels in finance is likely to continue for several years.

Suggested Citation

  • Bajo, Emanuele & Barbi, Massimiliano & Hillier, David, 2024. "Gender balance in academia: Evidence from finance departments," International Review of Financial Analysis, Elsevier, vol. 96(PA).
    • Handle: RePEc:eee:finana:v:96:y:2024:i:pa:s1057521924004642
    DOI: 10.1016/j.irfa.2024.103532
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S1057521924004642
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.irfa.2024.103532?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Brad M. Barber & Wei Jiang & Adair Morse & Manju Puri & Heather Tookes & Ingrid M. Werner, 2021. "What Explains Differences in Finance Research Productivity during the Pandemic?," Journal of Finance, American Finance Association, vol. 76(4), pages 1655-1697, August.
    2. Clément Bosquet & Pierre‐Philippe Combes & Cecilia García‐Peñalosa, 2019. "Gender and Promotions: Evidence from Academic Economists in France," Scandinavian Journal of Economics, Wiley Blackwell, vol. 121(3), pages 1020-1053, July.
    3. David Card & Stefano DellaVigna & Patricia Funk & Nagore Iriberri, 2020. "Are Referees and Editors in Economics Gender Neutral?," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 135(1), pages 269-327.
    4. Manuel Bagues & Mauro Sylos-Labini & Natalia Zinovyeva, 2017. "Does the Gender Composition of Scientific Committees Matter?," American Economic Review, American Economic Association, vol. 107(4), pages 1207-1238, April.
    5. Heather Sarsons & Klarita Gërxhani & Ernesto Reuben & Arthur Schram, 2021. "Gender Differences in Recognition for Group Work," Journal of Political Economy, University of Chicago Press, vol. 129(1), pages 101-147.
    6. Daehyun Kim & Laura T. Starks, 2016. "Gender Diversity on Corporate Boards: Do Women Contribute Unique Skills?," American Economic Review, American Economic Association, vol. 106(5), pages 267-271, May.
    7. Shelly Lundberg & Jenna Stearns, 2019. "Women in Economics: Stalled Progress," Journal of Economic Perspectives, American Economic Association, vol. 33(1), pages 3-22, Winter.
    8. Mila Getmansky Sherman & Heather E. Tookes, 2022. "Female Representation in the Academic Finance Profession," Journal of Finance, American Finance Association, vol. 77(1), pages 317-365, February.
    9. Mary Ellen Carter & Francesca Franco & Mireia Gine, 2017. "Executive Gender Pay Gaps: The Roles of Female Risk Aversion and Board Representation," Contemporary Accounting Research, John Wiley & Sons, vol. 34(2), pages 1232-1264, June.
    10. Brooks, Chris & Fenton, Evelyn M. & Walker, James T., 2014. "Gender and the evaluation of research," Research Policy, Elsevier, vol. 43(6), pages 990-1001.
    11. Heather Antecol & Kelly Bedard & Jenna Stearns, 2018. "Equal but Inequitable: Who Benefits from Gender-Neutral Tenure Clock Stopping Policies?," American Economic Review, American Economic Association, vol. 108(9), pages 2420-2441, September.
    12. Laura Hospido & Carlos Sanz, 2019. "Gender gaps in the evaluation of research: evidence from submissions to economics conferences (Updated March 2020)," Working Papers 1918, Banco de España, revised Mar 2020.
    13. Bransch, Felix & Kvasnicka, Michael, 2022. "Male Gatekeepers: Gender Bias in the Publishing Process?," Journal of Economic Behavior & Organization, Elsevier, vol. 202(C), pages 714-732.
    14. Kam C. Chan & Carl R. Chen & Hung‐Gay Fung, 2009. "Pedigree or Placement? An Analysis of Research Productivity in Finance," The Financial Review, Eastern Finance Association, vol. 44(1), pages 87-111, February.
    15. Jappelli, Tullio & Nappi, Carmela Anna & Torrini, Roberto, 2017. "Gender effects in research evaluation," Research Policy, Elsevier, vol. 46(5), pages 911-924.
    16. Adams, Renée B. & Ferreira, Daniel, 2008. "Do directors perform for pay?," Journal of Accounting and Economics, Elsevier, vol. 46(1), pages 154-171, September.
    17. Field, Laura Casares & Souther, Matthew E. & Yore, Adam S., 2020. "At the table but can not break through the glass ceiling:Board leadership positions elude diverse directors," Journal of Financial Economics, Elsevier, vol. 137(3), pages 787-814.
    18. Linda Babcock & Maria P. Recalde & Lise Vesterlund & Laurie Weingart, 2017. "Gender Differences in Accepting and Receiving Requests for Tasks with Low Promotability," American Economic Review, American Economic Association, vol. 107(3), pages 714-747, March.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Mila Getmansky Sherman & Heather E. Tookes, 2022. "Female Representation in the Academic Finance Profession," Journal of Finance, American Finance Association, vol. 77(1), pages 317-365, February.
    2. Fernandes, Mario & Hilber, Simon & Sturm, Jan-Egbert & Walter, Andreas, 2023. "Closing the gender gap in academia? Evidence from an affirmative action program," Research Policy, Elsevier, vol. 52(9).
    3. Niels Johannesen & Simon Muchardt, 2024. "Is the Bar Higher for Female Scholars? Evidence from Career Steps in Economics," CESifo Working Paper Series 11101, CESifo.
    4. Biermann, Marcus, 2024. "Remote talks: Changes to economics seminars during COVID-19," European Economic Review, Elsevier, vol. 163(C).
    5. Deepa Dhume Datta & Nitzan Tzur-Ilan, 2024. "Gender Gaps in the Federal Reserve System," Working Papers 2417, Federal Reserve Bank of Dallas.
    6. Baltrunaite, Audinga & Casarico, Alessandra & Rizzica, Lucia, 2022. "Women in economics: the role of gendered references at entry in the profession," CEPR Discussion Papers 17474, C.E.P.R. Discussion Papers.
    7. Ductor, Lorenzo & Prummer, Anja, 2024. "Gender homophily, collaboration, and output," Journal of Economic Behavior & Organization, Elsevier, vol. 221(C), pages 477-492.
    8. Joanna Tyrowicz & Lucas Augusto van der Velde & Magdalena Smyk, 2024. "Gender-neutral hiring of junior scholars," GRAPE Working Papers 94, GRAPE Group for Research in Applied Economics.
    9. Bao, Zhengyang & Huang, Difang, 2024. "Gender-specific favoritism in science," Journal of Economic Behavior & Organization, Elsevier, vol. 221(C), pages 94-109.
    10. Deepa Dhume Datta & Robert J. Vigfusson, 2024. "Measuring Inclusion: Gender and Coauthorship at the Federal Reserve Board," Finance and Economics Discussion Series 2024-091, Board of Governors of the Federal Reserve System (U.S.).
    11. Danula K. Gamage & Almudena Sevilla, 2019. "Gender Equality and Positive Action: Evidence from UK Universities," AEA Papers and Proceedings, American Economic Association, vol. 109, pages 105-109, May.
    12. Nano, Enrico & Panizza, Ugo & Viarengo, Martina, 2024. "Merit-based scholarships for university graduates: A generation of Italian economists," Labour Economics, Elsevier, vol. 90(C).
    13. Gamage, Danula K. & Sevilla, Almudena & Smith, Sarah, 2020. "Women in Economics: A UK Perspective," IZA Discussion Papers 13477, Institute of Labor Economics (IZA).
    14. Laura Hospido & Carlos Sanz, 2021. "Gender Gaps in the Evaluation of Research: Evidence from Submissions to Economics Conferences," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 83(3), pages 590-618, June.
    15. Jonas Radbruch & Amelie Schiprowski, 2023. "Committee Deliberation and Gender Differences in Influences," Rationality and Competition Discussion Paper Series 398, CRC TRR 190 Rationality and Competition.
    16. Funk, Patricia & Iriberri, Nagore & Savio, Giulia, 2024. "Does scarcity of female instructors create demand for diversity among students? Evidence from an M-Turk experiment," Labour Economics, Elsevier, vol. 90(C).
    17. Verónica Amarante & Marisa Bucheli & María Inés Moraes & Tatiana Pérez, 2021. "Women in Research in Economics in Uruguay," Revista Cuadernos de Economia, Universidad Nacional de Colombia, FCE, CID, vol. 40(84), pages 763-790, October.
    18. Pierre Deschamps, 2024. "Gender Quotas in Hiring Committees: A Boon or a Bane for Women?," Management Science, INFORMS, vol. 70(11), pages 7486-7505, November.
    19. Johnsen, Julian & Ku, Hyejin, 2020. "Competition and Career Advancement: The Hidden Costs of Paid Leave," Discussion Paper Series in Economics 13/2020, Norwegian School of Economics, Department of Economics.
    20. Bruns, Stephan B. & Doucouliagos, Anthony & Doucouliagos, Chris & König, Johannes & Stanley, T. D. & Zigova, Katarina, 2025. "The Delayed Acceptance of Female Research in Economics," IZA Discussion Papers 17649, Institute of Labor Economics (IZA).

    More about this item

    Keywords

    Finance journals; Gender gap; Academic promotions;
    All these keywords.

    JEL classification:

    • G00 - Financial Economics - - General - - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:finana:v:96:y:2024:i:pa:s1057521924004642. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/inca/620166 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.