Risk taking in the context of financial advice: does gender interaction matter?

Monne, Jerome; Rutterford, Janette and Sotiropoulos, Dimitris (2023). Risk taking in the context of financial advice: does gender interaction matter? European Journal of Finance, 30(3) pp. 249–268.

DOI: https://doi.org/10.1080/1351847X.2023.2201471

Abstract

This study tests a gender threat hypothesis whereby having a financial advisor of the opposite gender results in gender stereotypical risk attitudes in portfolio choice. We employ a unique dataset of 1,621 advised UK investors, combined with information on the gender of their financial advisors. Confirming the hypothesis, our results show that men advised by a woman take more risk than when advised by a man. Women advised by a man adopt a more cautious approach than when advised by a woman. When the gender threat is alleviated, that is when women are advised by women, and men are advised by men, we found no gender gap in risktaking.

Viewing alternatives

Metrics

Item Actions

Export

You can export this page using these formats Digital Object Identifier - DOI