Gender Differences in Investment Behavior across Countries and Their Relationship to Economic Development, Gender Equality, and Culture

Abstract

This paper provides an extension to the literature on gender differences in preferences by analyzing the international distribution of gender differences in preferences and their determinants with an economical approach. Based on the INTRA survey the international distribution of gender differences across 53 countries and the influence of its country level of economic development, gender equality and culture are elaborated. Results provide further evidence on the existence of a gender gap in preferences shaping financial decision-making. Generally, all findings are in line with the newest research, yet broadens the discussion by introducing further country- and cultural-factors. The paper provides evidence that this variation can be partly explained by the role of economic development, gender equality, and culture.