Using a comprehensive sample of investment recommendations, the authors
investigated differences in the performance, behavior, and career outcomes of
male and female sell-side analysts. They found that the recommendations of
female analysts, compared with those of their male counterparts, produce similar
abnormal returns but with lower idiosyncratic risks. Further, gender does not
seem to negatively affect female analysts’ career outcomes as defined by
their “star” rankings and job mobility among brokerage firms.