Who Wears the Pants? Gender Identity Norms and Intrahousehold Financial Decision-Making

• 成果类型: Article
• 署名作者: Ke, Da
• 署名单位: University of South Carolina System; University of South Carolina Columbia
• 刊物名称: JOURNAL OF FINANCE
• ISSN/ISSBN: 0022-1082
• DOI: 10.1111/jofi.13002
• 发表日期: 2021
• 页码: 1389-1425
• 关键词: STOCK-MARKET PARTICIPATION; social-interaction; portfolio choice; role attitudes; HEALTH; overconfidence; savings; women; determinants; consumption

摘要

Using microdata from U.S. household surveys, I document that families with a financially sophisticated husband are more likely to participate in the stock market than those with a wife of equal financial sophistication. This pattern is best explained by gender identity norms, which constrain women's influence over intrahousehold financial decision-making. A randomized controlled experiment reveals that female identity hinders idea contribution by the wife. These findings underscore the roles of intrahousehold bargaining and traditional norms in shaping household financial decisions.