Know Your Subject: A Gendered Perspective on Investor Information Search

Abstract

What causes men and women to behave differently in financial matters? Gender differences in financial decisions and behaviors have been well-documented in popular media and the managerial press. The academic literature supports the notion of gender differences in investing, pointing out that male investors tend to make the high-consequence financial decisions in households and are the more risk tolerant and self-confident investors. Yet few studies have empirically connected these conditions to differences in the information acquisition behavior of male and female investors. This paper examines whether differences exist in the information sources and the frequency of their use among male and female investors and identifies demographic and attitudinal characteristics that could cause differences in information search strategies.