People
People Job Market Candidates Doctoral Students PhD Representatives Alumni Supervisors Lecturers Coordinators Job Market Candidates Tommaso Bighelli Job market paper: "The…
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IWH Doctoral Programme in Economics
Warum ein Doktorandenstudium am IWH? Das IWH Doctoral Programme in Economics – one of the Top 20 places to do a PhD ( INOMICS Career Guide 2023 ) Am Leibniz-Institut für…
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Lecturers
Lecturers at CGDE Institutions Jordan Adamson Assistant Professor at Institute for Empirical Economic Research, Leipzig University. Website Course: Econometrics (winter term…
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Department Profiles
Research Profiles of the IWH Departments All doctoral students are allocated to one of the four research departments (Financial Markets – Laws, Regulations and Factor Markets –…
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IWH-DPE Call for Applications – Fall 2022 Intake
Vacancy IWH-DPE Call for Applications – Fall 2022 Intake We encourage outstanding students with a master degree in economics or related fields, such as mathematics, statistics,…
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IWH-DPE Call for Applications – Fall 2021 Intake
Vacancy IWH-DPE Call for Applications – Fall 2021 Intake We encourage outstanding students with a master degree in economics or related fields, such as mathematics, statistics,…
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IWH-DPE Call for Applications – Fall 2024 Intake
Vacancy The Halle Institute for Economic Research (IWH) is one of Germany’s leading economic research institutes. The IWH focuses on research in macroeconomics, financial…
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IWH-DPE Call for Applications – Fall 2020 Intake
Vacancy IWH-DPE Call for Applications – Fall 2020 Intake We encourage outstanding students with a master degree in economics or related fields, such as mathematics, statistics,…
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Lehre
Lehre Im Rahmen der Kooperationsbeziehungen des IWH mit deutschen und ausländischen Hochschulen sind die Wissenschaftlerinnen und Wissenschaftler des Instituts auch in der Lehre…
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Gender Pay Gap in American CFOs: Theory and Evidence
Bill Francis, Iftekhar Hasan, Gayane Hovakimian, Zenu Sharma
Journal of Corporate Finance,
June
2023
Abstract
Studies document persistent unexplained gender-based wage gap in labor markets. At the executive level, where skill and education are similar, career interruptions and differences in risk preferences primarily explain the extant gender-based pay gap. This study focuses on CFO compensation contracts of Execucomp firms (1992–2020) and finds no gender-based pay gap. This paper offers several explanations for this phenomenon, such as novel evidence on the risk preferences of females with financial expertise and changes in the social and regulatory climate.
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