Gender and the Economy

Tag: Finance+investing

Research briefs, news, and event recaps related to finance and investing.

  • Translating Insights into Impact: Using Gender-Based Analysis to Create Transformational Innovation

    Translating Insights into Impact: Using Gender-Based Analysis to Create Transformational Innovation

    This report, which is a collaboration between GATE and the Criterion Institute, highlights the power of gender-based analysis to uncover novel insights derived from addressing the needs of previously overlooked and marginalized groups. This approachoffers substantial benefits to organizations, industries, and sectors. The Institute for Gender and the Economy coined the term “Gender Analytics” to capture the qualitative and quantitative analytical and design processes required to do gender-based analysis.   

    The Criterion Institute has been at the forefront of gender-lens investing, which is the integration of gender analysis into investment systems. In doing so, they have focused on the systems of power that underlie marginalization, and ways to build capacity to analyze patterns of power dynamics, which they call a “translation” capability.  

    This report shows how gender-based analysis and the “translation” function enabled 4 organizations to uncover opportunities that organizations operating in traditional ways have not been able to address or even identify. We hope this report and the accompanying full case studies in the appendix spark ideas and conversations on how organizations can leverage the numerous benefits of intersectional gender-based insights. 

    Read ‘Translating Insights into Impact: Using Gender-Based Analysis to Create Transformational Innovation’ Report

  • Freada Kapor Klein & Mitch Kapor on ‘Closing the Equity Gap’

    Freada Kapor Klein & Mitch Kapor on ‘Closing the Equity Gap’

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    Topic: Freada Kapor Klein & Mitch Kapor on ‘Closing the Equity Gap’

    GATE Academic Director Sonia Kang hosted a discussion with Freada Kapor Klein and Mitch Kapor, who launched Kapor Capital together to prove that investing in gap-closing startups—companies whose services or products close opportunity gaps for both communities of color and low-income communities—is good business. Freada and Mitch recently co-authored a book Closing the Equity Gap, which shares their approaches to create wealth while simultaneously addressing the inequalities in startup investing.

    At the event, Sonia discussed with Freada and Mitch about what the future of equitable investing and business can look like. Freada and Mitch shared their core belief that all companies must make a positive impact and that the obstacles entrepreneurs overcome in life are a far better predictor of long-term success than the schools they attend or investment dollars they raise from friends and family. They offered a win-win road map for creating wealth and addressing inequalities by investing in ground-breaking tech.

     “There isn’t a one size fits all model for gap closing. We take it sector by sector. If you take a particular sector than you can look at an investment opportunity and ask, who is this going to benefit?”

    – Mitch Kapor

     

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  • LE PETIT GUIDE DES INVESTISSEMENTS FÉMINISTES

    LE PETIT GUIDE DES INVESTISSEMENTS FÉMINISTES

  • VC Funds Are Dominated by Men. These Women-Led Firms Are Trying to Changing That

    VC Funds Are Dominated by Men. These Women-Led Firms Are Trying to Changing That

  • A TikTok star saved $100K before she turned 25 — now she wants less ‘finance bros playing gatekeepers’ and more women talking money

    A TikTok star saved $100K before she turned 25 — now she wants less ‘finance bros playing gatekeepers’ and more women talking money

  • Vanishing Teller Jobs Threaten Women’s Banking Entry Point

    Vanishing Teller Jobs Threaten Women’s Banking Entry Point

  • How Portfolia empowers women investors to fund innovative companies

    How Portfolia empowers women investors to fund innovative companies

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    Overview

    Women do not invest their money as much as men, even though they control 40% of the world’s wealth. Trish Costello created Portfolia, a financial tech firm, to “unlock women as investors” and back innovative companies with diverse leadership that are contributing to solving social problems.  

    Course Topics:
    • Finance and investing 
    • Innovation and entrepreneurship 
    • Business design 
    • Gender analysis 

    Introduction:

    Portfolia is a financial tech firm, with venture capital as its first product. The company was founded by Trish Costello to activate the wealth of women in an engaging way. Costello has years of experience in the venture capital industry including co-founding the Kauffman Fellows, where she trained people to work in venture capital. During her time with the Kauffman Fellows, Costello felt that she was making a difference in the ability of women to be active, successful investors in venture. Over 25% of the fellows were women and the program was placing them in the industry as leaders. After returning from a break with fresh eyes, Costello realized two things: first that her efforts at Kauffman Fellows were not moving the needle, as women were still not becoming active investors in venture capital, and second, that women’s financial power was growing. 

    View and download the full case study.

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    __________________________

    This case was written by:

    This case was written by Ana Baseio and Victoria Sahagian. The authors prepared this case under the supervision of Professor Sarah Kaplan, with guidance from Alyson Colón, Bonnie Lam and Vanessa Serra Iarocci and research assistance from Carmina Ravanera. The authors are grateful for the participation of Trish Costello in this project.

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  • Ellevest: Investment technologies for Women

    Ellevest: Investment technologies for Women

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    Overview

    Research shows that over 70% of women are dissatisfied by the services offered by financial institutions. This case study looks at how Sallie Krawcheck created and evolved Ellevest, an investment platform which is “gender-aware” and simultaneously helps women reach their financial goals, in order to address the many challenges that women face when investing.

    Course Topics:
    • Gender analysis
    • Finance and investing
    • Innovation
    • Women’s empowerment
    • Business design

    Introduction:

    Women in the United States are expected to control 51% of personal wealth by the end of 2020 and are set to inherit US$28.7 trillion in next 40 years. Yet research conducted by the Boston Consulting Group in 2016 suggests that 71% of women are dissatisfied by the services offered by their financial institution. This lack of financial services that fulfill women’s needs presents an opportunity for business, which financial institutions have begun to notice. It is also an opportunity for new ventures that would seek to prioritize the needs of women investors.

    Ellevest is a robo-advisor that provides customized recommendations on how investors can allocate their funds in different assets in order to meet their goals. It was founded by Sallie Krawcheck in 2014 to “get more money in the hands of women”. To create an investment platform which is “gender-aware” and simultaneously helps women reach their financial goals, Krawcheck included considerations such as a gender-specific salary curve, longer lifespan, and differing retirement investment priorities.

    View and download the full case study

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    __________________________

    This case was written by:

    This case was written by Sonal Gupta and Bashir Chalabi. The authors prepared this case under the supervision of Professor Sarah Kaplan, with guidance from Bonnie Lam and Vanessa Serra Iarocci and research assistance from Carmina Ravanera. The authors are grateful for the participation of Sylvia Kwan in this project.

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  • Women, investing and retirement

    Women, investing and retirement

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    Executive summary

    Although women in Canada are participating in the labour market more than ever before, studies have found that they are less likely to save and invest than men are. This gap contributes to financial disadvantage across the course of women’s lives. For example, one study from 2017 discovered that 24% of Canadian women do not invest their money at all, compared to 15% of men.

    The difference between men’s and women’s savings and investment is especially impactful for women’s retirement: women in Canada live about four years longer than men on average, and may face financial insecurity in old age. The gender investing gap can also affect women’s abilities to grow their assets, save for significant purchases, and amass wealth. The investing gap has different causes: it can be linked to gender roles and norms that financially advantage men, as well as the pervasive gender wage gap. Short-term actions, like changing designs of financial products and services to be more inclusive, may have a positive effect, but need to be implemented in combination with policy and other structural changes that mitigate women’s economic marginalization.

    Read and/or download the full policy brief.

    __________________________

    Policy brief prepared by:

    CARMINA RAVANERA OF THE INSTITUTE FOR GENDER AND THE ECONOMY AT THE ROTMAN SCHOOL OF MANAGEMENT, UNIVERSITY OF TORONTO, UNDER THE SUPERVISION OF PROFESSOR SARAH KAPLAN.

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    Authors

    Carmina Ravanera

    Published

    January 2020

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  • Women and investing: Cutting-edge research insights from 3 Rotman professors

    Women and investing: Cutting-edge research insights from 3 Rotman professors

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    The gender investing gap is a pressing issue in discussions on gender and the economy. Women are known to save and invest less than men, which leads to greater financial insecurity, particularly in retirement age. There are several contributing factors to the gender investing gap, including women’s relatively lower wages. Recently, innovative solutions for the gender investing gap have come to the fore, particularly through the recognition that finance and investment industries have been created by and for men.

    “Women and Investing”, on October 7, featured three professors from the Rotman School of Management discussing their research on this topic. The speakers were Claire Célérier, Assistant Professor of Finance; Laura Doering, Assistant Professor of Strategic Management; and Avni Shah, Assistant Professor of Marketing. Their conversation was moderated by Jacqueline Thorpe, Toronto Bureau Chief of Bloomberg News.

    The professors’ work covered a variety of topics with data gathered from around the world. Célérier’s work used a Swedish data set and discovered that offering capital-protected financial products cause risk-averse investors to invest more. This is notable for women, who have been found to be risk-averse in their investments. Shah’s research found that sending an SMS “nudge” to banking customers in Mexico caused them to increase their voluntary contributions to retirement, specifically when the “nudge” told them how contributions could help their families. However, this method did not work for young women, suggesting that the financial industry could be more targeted to diverse groups to create better financial outcomes for them. And, Doering’s research from a Latin American microfinance bank discovered that when borrowers are originally paired with women loan managers, they are less compliant with subsequent managers, regardless of their gender. That is, when customers consider a job as feminine, they afford it less authority.

    The work of Célérier and Shah tells us that financial products and services need to be designed to be more inclusive of different demographic groups’ contexts. Meanwhile, Doering’s work shows how gender biases permeate the finance industry, suggesting senior leaders need to be aware of it and consistently endorse women’s authority, especially for jobs that people view as feminized.

    To see more of this event, view the videos below. 

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