In the last year, CFA Institute, along with many professional organizations, began to look more closely at the composition of its membership. We found a surprising number: Women represent less than one in five CFA® charterholders. Why would this be?
The most enduring principle of sound investment management is diversification, yet it is remarkably absent from team construction across all spectrums of the investment profession. Can we improve investor outcomes through increased diversity in general, starting with the gender gap?
The idea that gender diverse teams have better outcomes in terms of corporate earnings and investment returns has been the subject of a growing number of industry papers and even some new investment products, although academic findings to date have been mixed. Furthermore, this is a topic that centers around firm culture, an important but understudied subject in the financial industry, and a lot of the work around cognitive diversity or collective intelligence has been done in other fields.
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