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dc.contributor.authorWolfers, Justinen_US
dc.date.accessioned2006-06-20en_US
dc.date.accessioned2010-07-07T09:11:33Z-
dc.date.available2010-07-07T09:11:33Z-
dc.date.issued2006en_US
dc.identifier.urihttp://hdl.handle.net/10419/33404-
dc.description.abstractA vast labor literature has found evidence of a glass ceiling, whereby women are under-represented among senior management. A key question remains the extent to which this reflects unobserved differences in productivity, preferences, prejudice, or systematically biased beliefs about the ability of female managers. Disentangling these theories would require data on productivity, on the preferences of those who interact with managers, and on perceptions of productivity. Financial markets provide continuous measures of the market's perception of the value of firms, taking account of the beliefs of market participants about the ability of the men and women in senior management. As such, financial data hold the promise of potentially providing insight into the presence of mistake-based discrimination. Specifically if female-headed firms were systematically under-estimated, this would suggest that female-headed firms would outperform expectations, yielding excess returns. Examining data on S&P 1500 firms over the period 1992-2004 I find no systematic differences in returns to holding stock in female-headed firms, although this result reflects the weak statistical power of our test, rather than a strong inference that financial markets either do or do not under-estimate female CEOs.en_US
dc.language.isoengen_US
dc.publisherIZA Bonnen_US
dc.relation.ispartofseriesIZA Discussion Papers 1944en_US
dc.subject.jelG14en_US
dc.subject.jelG3en_US
dc.subject.jelJ16en_US
dc.subject.jelJ4en_US
dc.subject.jelJ7en_US
dc.subject.jelK31en_US
dc.subject.jelM5en_US
dc.subject.ddc330en_US
dc.subject.keyworddiscriminationen_US
dc.subject.keywordCEOsen_US
dc.subject.keywordchief executive officeren_US
dc.subject.keywordevent studyen_US
dc.subject.keywordstatistical discriminationen_US
dc.subject.keywordexcess returnsen_US
dc.subject.keywordfemale CEOsen_US
dc.subject.stwFührungskräfteen_US
dc.subject.stwWeibliche Führungskräfteen_US
dc.subject.stwBetriebsergebnisen_US
dc.subject.stwVergleichen_US
dc.subject.stwRegressionen_US
dc.subject.stwUSAen_US
dc.subject.stwGleichberechtigungen_US
dc.subject.stwFührungspersönlichkeiten_US
dc.titleDiagnosing discrimination: stock returns and CEO genderen_US
dc.typeWorking Paperen_US
dc.identifier.ppn507466225en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)

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