The Influence of Culture on the Cross-country Gender Disparities in the European Financial Analysts Industry

File pdf 209KB

This study first provides descriptive statistics about female representation among financial analysts in European countries, where a great cultural diversity is observed. Women represent 16.15% of all analysts in European countries and the stock recommendations issued by women account for 14.60% of all recommendations with a remarkable country-level variation. Secondly, the study analyses the various determinants likely to explain the country-level difference in female representation among financial analysts. We specially examine the relations between national culture and the gender diversity among financial analysts. We focus on two dimensions of national culture identified by (Hofstede, 2001): individualism/collectivism and uncertainty avoidance. We empirically show that countries with lower individualism and lower uncertainty avoidance enjoy higher female representation among financial analysts.

Author(s):

Jingwen Ge    
CERAG
France