2018 GCGC

1-2 June 2018

Unsuccessful Teams


Renee Adams

Professor of Finance
University of Oxford


Fabrizio Ferri

Associate Professor of Business / Columbia Business School


We examine whether the consequences of failed teamwork are shared equally. In the mutual fund industry, labor market outcomes for members of mixed-gender teams are asymmetric. Following fund closures, female team-managers are more likely to exit the fund family and the industry than male team-managers. This gender gap in exit does not seem to be driven by a gender gap in skill. Our evidence suggests that employers engage in attributional rationalization they allocate more blame for unsuccessful teamwork to females. Our results provide an explanation for the 3.8% decline in the fraction of female fund managers between 1999 and 2015.

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