Alexandra Niessen?Ruenzi|Stefan Ruenzi
Sex Matters: Gender Bias in the Mutual Fund Industry
University of Mannheim|University of Mannheim
document significantly lower inflows femalemanaged funds malemanaged funds result obtained field data data laboratory experiment find gender differences performance thus rational statistical discrimination unlikely explain fund flow effect conduct implicit association test find subjects stronger gender bias according test invest significantly less femalemanaged funds results suggest gender bias affects investment decisions thus offer new potential explanation low fraction women mutual fund industry internet appendix available httpsdoiorg101287mnsc20172939 paper accepted lauren cohen finance