Submitted by kpeterson on Wed, 02/24/2010 - 1:46pm
The Center for Women’s Business Research, with support from the National Women’s Business Council and Walmart, undertook a study to establish the economic impact of women-owned businesses on the U.S. economy. This study provides a clear picture of the value and impact of this segment to the economy and a roadmap for the future.
Presenters: Linda Basch, National Council for Research on Women; Melissa Fisher, Georgetown University
CEW presents a panel discussion focused on women in corporate America, both on Wall Street and in fund management. Panelists include Dr. Melissa Fisher, an assistant professor in the Department of Anthropology at Georgetown University whose forthcoming book is an ethnography of the first generation of women on Wall Street (the 1950s to the present). The second panelist is Linda Basch, president of the National Council for Research on Women. Dr. Basch along with Jacki Zehner (Women in Fund Management), examined if the recent U.S. financial system's economic meltdown might have been avoided if more women had been in the fields of hedge funds and mutual funds.
As has been pointed out with increasing frequency, a certain group think has been widely blamed for the economic crisis we find ourselves in today. Studies indicate that women are more comprehensive thinkers and less attracted to excessive risk than are their male peers.
The barriers that continue to prevent women from reaching senior leadership in critical mass in the financial services industry and more generally–negative gender stereotyping, lack of women in line positions, a narrow pipeline, lack of mentoring and promoting opportunities, work/life balance challenges, limited access to powerful professional networks– are the same ones faced over a decade ago.
This study explores the relationship between announcements of CEO appointments and investor reactions, and particularly the influence of CEO gender on that relationship. The most striking finding are that the stock in a company drops after the announcement of a female CEO, and that journalists reference gender more when writing about women executives than they writing about men.
Top Managers in the Netherlands believe that the only way to reach the top for a woman is to act like a man without showing it. Senior managers currently are reluctant to recruit new women top managers.