Publication Type
Journal Article
Version
acceptedVersion
Publication Date
9-2017
Abstract
We examine how alumni ties with corporate boards differentially affect male and female analysts’ job performance and career outcomes. Connection improves men’s job performance — forecasting accuracy and recommendation impact — significantly more than women’s. Controlling for performance, connection further contributes to men’s, but not women’s, likelihood of being voted by institutional investors as “star” analysts, a marker of career success. These asymmetric effects are stronger in more opaque firms and among younger analysts, but is absent from a placebo test. Our evidence indicates that men reap higher benefits from social networks than women in both job performance and subjective evaluation.
Keywords
analyst research, gender, connections, social network
Discipline
Accounting | Corporate Finance | Gender and Sexuality | Portfolio and Security Analysis
Research Areas
Corporate Reporting and Disclosure
Publication
Review of Financial Studies
Volume
30
Issue
9
First Page
3305
Last Page
3335
ISSN
0893-9454
Identifier
10.1093/rfs/hhx040
Publisher
Oxford University Press
Citation
FANG, Lily Hua and HUANG, Sterling.
Gender and connections among Wall Street analysts. (2017). Review of Financial Studies. 30, (9), 3305-3335.
Available at: https://ink.library.smu.edu.sg/soa_research/1323
Copyright Owner and License
Authors
Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-No Derivative Works 4.0 International License.
Additional URL
https://doi.org/10.1093/rfs/hhx040
Included in
Accounting Commons, Corporate Finance Commons, Gender and Sexuality Commons, Portfolio and Security Analysis Commons