Gender Influence in Stock Recommendations by Equity Research Analysts
Amanda Martinez El Ghossain,
Anna De Abreu Sampaio Navarro Vieira,
Alexandra Strommer Godoi
et al.
Abstract:This study empirically tests the hypothesis in the literature that women, in their investment decisions, tend to show greater risk aversion and/or a lower degree of optimism than their male counterparts by analyzing investment recommendations by Equity Research analysts in Brazil. Based on a sample of 7496 recommendations for the main companies listed on the B3 between 2009-2021, a statistically significant effect was found in the opposite direction to that predicted: recommendations made by women tended to be… Show more
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