LAW & ECONOMICS COLLOQUIUM
presents
Mikhail Simutin
Rotman School of Management
University of Toronto
The origins and real effects of the gender gap:
Evidence from CEOs’ formative years
Tuesday, September 24, 2019
4:10 - 5:45
Room FL219 (John Willis Classroom)
78 Queen's Park
CEOs allocate more investment capital to male than female division managers. Using data from individual Census records, we find that this gender gap is driven by CEOs who grew up in male-dominated families—those where the father was the only income earner and had more education than the mother. The gender gap also increases for CEOs who attended all-male high schools and grew up in neighborhoods with greater gender inequality. The effect of gender on capital budgeting introduces frictions and erodes investment efficiency. Overall, the gender gap originates in CEO preferences developed during formative years and produces significant real effects.
Mike Simutin is an Associate Professor of finance and Associate Director of research at the International Centre for Pension Management at the Rotman School of Management. His research focuses on studying institutional money management and understanding risks that affect asset prices. Mike’s research has been published in leading finance journals, including the Journal of Finance, the Review of Financial Studies, and the Journal of Financial Economics. He has received multiple research awards, including the Best Paper Award by the Review of Asset Pricing Studies and the Governor’s Award from the Bank of Canada. Mike has also received multiple teaching accolades, including being named one of the 40-Under-40 Most Outstanding Business School Professors. His research has been presented at numerous academic conferences and practitioner events.
For more workshop information, please send an email to events.law@utoronto.ca
LAW & ECONOMICS COLLOQUIUM
Mikhail Simutin
Rotman School of Management
University of Toronto
The origins and real effects of the gender gap:
Evidence from CEOs’ formative years
Tuesday, September 10, 2019
4:10 - 5:45
Room FL219 (John Willis Classroom)
78 Queen's Park
CEOs allocate more investment capital to male than female division managers. Using data from individual Census records, we find that this gender gap is driven by CEOs who grew up in male-dominated families—those where the father was the only income earner and had more education than the mother. The gender gap also increases for CEOs who attended all-male high schools and grew up in neighborhoods with greater gender inequality. The effect of gender on capital budgeting introduces frictions and erodes investment efficiency. Overall, the gender gap originates in CEO preferences developed during formative years and produces significant real effects.
Mike Simutin is an Associate Professor of finance and Associate Director of research at the International Centre for Pension Management at the Rotman School of Management. His research focuses on studying institutional money management and understanding risks that affect asset prices. Mike’s research has been published in leading finance journals, including the Journal of Finance, the Review of Financial Studies, and the Journal of Financial Economics. He has received multiple research awards, including the Best Paper Award by the Review of Asset Pricing Studies and the Governor’s Award from the Bank of Canada. Mike has also received multiple teaching accolades, including being named one of the 40-Under-40 Most Outstanding Business School Professors. His research has been presented at numerous academic conferences and practitioner events.
For more workshop information, please send an email to events.law@utoronto.ca
