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Key Facts

  • Project Start: Feb 15 2008
  • Project End: Feb 14 2010
  • Coordinator: German Institute for Economic Research (DIW Berlin)
  • EU Contribution:
    998 170 EUR

    • // FINESS Flyer

    Upcoming Events

  • May 10-11 2010, Brussels: International Policy Conference

    • // Programme

    Recent Events

  • April 26 2010, Berlin: Advisory and Steering Committee Meeting

  • January 2010: 4th Steering Group Meeting

  • Sept 14 2009, Berlin: 3rd Steering Group Meeting

  • March 5-6 2009, Berlin: International Scientific Conference

  • March 6 2009, Berlin: 2nd Steering Group and Advisory Committee Meeting

  • Sept 8 2008, Berlin: 1st Steering Group Meeting

  • Feb 22 2008, Berlin: Kick-off Meeting

    • Consortium

    Project Structure

    WP6: GENDER AND FINANCIAL MARKETS

    Objectives

  • To provide a theoretically and empirically sound approach to the existence of a gender dimension in financial markets and of the possible impact of the gender dimension on entrepreneurship and growth.
  • To evaluate the insurance role of financial institutions and markets, which is of particular importance for risk management and growth enhancing risk taking of households and firms, given that risk attitude and risk tolerance of individuals are gender dependent.
  • To evaluate the role of gender on the supply side for investors, risk management strategies and performance.
  • To evaluate the suitability of important public programs for promoting entrepreneurship and innovation given the gender dimension.

    • Work description

  • Extracting information from databases
     Representative panel of German medium-sized firms run by the German Bank for Reconstruction and Development (KfW) provides information on gender, firm indicators, financing strategies of the firms, investment and usage of public promotional programs. In addition, the Business Environment and Enterprise Performance Survey is used that has been conducted for 34 countries by the European Bank for Reconstruction and Development (EBRD) and the World Bank. Questions allow the construction of proxies of the bank's judgement of the applicant's solvency status. Firms of different ages and start-ups are included. Other datasets cover the financial services sector and are reported by German Bundesbank and commercial banks (firm characteristics of banks, private equity and investment funds). This database is used throughout the WP.
  • Role of financial markets as an insurance device with regard to the gender dimension
     Theoretical approach to the gender dimension on the insurance role of financial markets: We will critically assess the previous literature on gender and financial constraints, build a conceptional framework to cover the drivers of financial constraints and hypothesize the specific impact of gender on the existence of financial constraints, both before and after firm formation. Based on this concept, the best empirical strategy to the representation of the gender dimension in financial constraints will be defined.
  • Evaluation of the gender dimension on the supply side of financial services
     Risk management strategies, inflows of investors and performance in terms of volatility and magnitude are considered as suitable candidates to explore the existence of a gender dimension. Two strands of literature are assessed: one regarding the candidates for measurement and the other one on relevant gender issues (e.g. on the risk attitude of females and males). The impact of gender on risk management strategies, inflows of investors and performance is explored by panel estimation techniques.
  • The role of gender for promotional programs to foster entrepreneurship and innovation
    The possible shortcomings of Member States programs to support entrepreneurship and innovation will be identified. Guidelines for the optimal design of public programs will be derived.

    • Workpackage Leader: Dorothea Schaefer

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