25 maio 2023

Gênero e previsão de analistas durante a Covid

Como o fato do analista ser mãe ou pai influenciou na previsão emitida durante a Covid

This paper explores the shock of school closures caused by the COVID-19 pandemic to study the effect of childcare responsibilities on analyst forecasts. With manually collected data on whether analysts have children, I find that female analysts with children (mother analysts) are less likely to issue timely forecasts after school closures, compared to male analysts with children (father analysts). Mother analysts’ forecasts also become less accurate after school closures, but the negative effect only exists among forecasts for firms with relatively low institutional ownership, suggesting that mother analysts prioritize maintaining the forecast accuracy for firms that are more important to their careers. Additionally, mother analysts shift forecast release times to avoid childcare hours. My findings imply that childcare responsibilities hurt the productivity of mother analysts more than that of father analysts, even though these women have established themselves in a competitive industry.

Em resumo: Mother analysts are less likely to issue timely forecasts compared to father analysts after the COVID-19 school closures. • Mother analysts reduce forecast accuracy for firms that are less important to their careers after the school closures. • Mother analysts shift the forecast release time to avoid childcare hours. • Childcare responsibilities hurt the productivity of high-achieving women more than that of their male counterparts.

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