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What’s Good for Women Is Good for Science: Evidence from the American Finance Association

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  • Renée Adams
  • Michelle Lowry

Abstract

Motivated by evidence that the largest gender differences in career outcomes arise within occupations, we examine a single occupation. With the support of the American Finance Association (AFA), we surveyed AFA members on the professional culture within finance. Individual experiences vary substantially, especially across men and women. Contrary to conventional narratives, differences in preferences play little role in explaining why women experience worse outcomes. Bias and discrimination have the largest effect. The consequences of noninclusiveness extend beyond the personal to the entire field. Our findings suggest that institutions potentially could do more than they recognize to improve both diversity and science. (JEL I23, J16, J24, J44, J71)

Suggested Citation

  • Renée Adams & Michelle Lowry, 2022. "What’s Good for Women Is Good for Science: Evidence from the American Finance Association," The Review of Corporate Finance Studies, Society for Financial Studies, vol. 11(3), pages 554-604.
    • Handle: RePEc:oup:rcorpf:v:11:y:2022:i:3:p:554-604.
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    File URL: http://hdl.handle.net/10.1093/rcfs/cfac013
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    More about this item

    JEL classification:

    • I23 - Health, Education, and Welfare - - Education - - - Higher Education; Research Institutions
    • J16 - Labor and Demographic Economics - - Demographic Economics - - - Economics of Gender; Non-labor Discrimination
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • J44 - Labor and Demographic Economics - - Particular Labor Markets - - - Professional Labor Markets and Occupations
    • J71 - Labor and Demographic Economics - - Labor Discrimination - - - Hiring and Firing

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