Topic：Gender Preferences in Investment Decisions: Evidenceof Fund of Funds Managers

Lecturer:Jing Ding

Jing Ding is an associate researcher at the School of Economics and Management, Tongji University. She received his Ph. D. from Tsinghua University. Her research interests include public fund raising, asset pricing and machine learning. Her papers have been published in Management Science, Journal of Financial and Quantitative Analysis, Journal of Economic Dynamics and Control Journal.

Abstract:

A Fund of Funds (FOF) is a specialized type of mutual fund that allocates capital to other funds rather than investing directly in individual stocks or bonds. This paper investigates whether FOF managers demonstrate gender-based preferences when constructing their investment portfolios. Utilizing disclosures of FOF holdings, our findings indicate that FOF managers show a preference for funds managed by individuals of the same gender. Specifically male FOF managers exhibit a significantly higher likelihood of investing in male-managed funds, whereas female FOF managers tend to favor female - managed funds. Importantly, these preferences are not influenced by the risk aversion or selection skills of the FOF managers. Furthermore, our analysis reveals that the observed gender preferences stem from taste-based discrimination rather than statistical discrimination.

Time:10:30-11:30 a.m, November 15th,2024

Venue: B438, Zhixin Building, Central Campus