Gender and beauty in the financial analyst profession: evidence from the United States and China

• 成果类型: Article
• 署名作者: Li, Congcong; Lin, An-Ping; Lu, Hai; Veenstra, Kevin
• 署名单位: Duquesne University; Singapore Management University; University of Toronto; Peking University; McMaster University
• 刊物名称: REVIEW OF ACCOUNTING STUDIES
• ISSN/ISSBN: 1380-6653
• DOI: 10.1007/s11142-020-09542-z
• 发表日期: 2020
• 页码: 1230-1262
• 关键词: forecast accuracy; DISCRIMINATION; attractiveness; selection

摘要

We examine how gender and beauty affect the likelihood of being voted as an All-Star in the financial analyst profession in both the United States and China. We find that female analysts are more likely to be voted as All-Star analysts in the United States, but good-looking female U.S. analysts are less likely to be voted as All-Stars. The conclusion is the opposite for Chinese analysts. We find that female analysts in China are less likely to be voted as All-Stars, but the likelihood increases with their facial attractiveness. These findings implicate a beauty penalty for female analysts in the United States and gender discrimination against female analysts in China. This career path evidence from a competitive financial industry suggests that gender and beauty biases may be rooted deeply in culture and the legal environment and should not be treated homogenously.