The role of gender in sales behaviour: Evidence from institutional financial brokerage

Raul Riefler; Onur Kemal Tosun; Ylva Baeckström

doi:10.1016/j.frl.2023.103914

The role of gender in sales behaviour: Evidence from institutional financial brokerage

Raul Riefler, Onur Kemal Tosun^*, Ylva Baeckström

^*Corresponding author for this work

Banking & Finance

Research output: Contribution to journal › Article › peer-review

4 Citations (Scopus)

Abstract

We study the role of gender in sales behaviour using 336,401 daily institutional broker transactions over two years. Female brokers appear more efficient at generating revenue than males. Their more cautious sales behaviour sees them execute fewer transactions and sell lower risk financial products to more conservative clients. Directionally supportive of literature that records higher confidence levels, trading frequency and risk taking among males, we show how female brokers contribute to more diversified and successful sales behaviour. Our findings are relevant to gender unequal financial services industry and other quantitative domains that tend to overvalue male relative to female skills.

Original language	English
Article number	103914
Journal	Finance research letters
Volume	55
Early online date	9 Jun 2023
DOIs	https://doi.org/10.1016/j.frl.2023.103914
Publication status	Published - Jul 2023

Keywords

Financial brokers
Gender differences
Sales behaviour
Sales performance

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10.1016/j.frl.2023.103914

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abstract = "We study the role of gender in sales behaviour using 336,401 daily institutional broker transactions over two years. Female brokers appear more efficient at generating revenue than males. Their more cautious sales behaviour sees them execute fewer transactions and sell lower risk financial products to more conservative clients. Directionally supportive of literature that records higher confidence levels, trading frequency and risk taking among males, we show how female brokers contribute to more diversified and successful sales behaviour. Our findings are relevant to gender unequal financial services industry and other quantitative domains that tend to overvalue male relative to female skills.",

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AB - We study the role of gender in sales behaviour using 336,401 daily institutional broker transactions over two years. Female brokers appear more efficient at generating revenue than males. Their more cautious sales behaviour sees them execute fewer transactions and sell lower risk financial products to more conservative clients. Directionally supportive of literature that records higher confidence levels, trading frequency and risk taking among males, we show how female brokers contribute to more diversified and successful sales behaviour. Our findings are relevant to gender unequal financial services industry and other quantitative domains that tend to overvalue male relative to female skills.

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KW - Sales behaviour

KW - Sales performance

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The role of gender in sales behaviour: Evidence from institutional financial brokerage

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