| With the socio-political and economic development,equality between men and women has drawn increasing attention from all sectors of society。With the efforts of all sectors of society,more and more women can enter various fields of society.Women play an increasingly important role in society.Women in the job selection of space is also growing,many women obtain the success of the career in their own efforts.However,on the whole,women are still discriminated while seeking jobs.In Social concept,women are weak and soft-hearted.Besides,they also lack of compression ability.All of these result in less consideration of female candidates in the arrangement of employers in their core positions.Specific to this study,although the number of female fund managers has been increasing in recent years,the overall proportion is still low.In addition,the funds managed by female fund managers are mostly low-risk and low-yield funds such as Index funds and monetary funds.The reason is that people generally think that female fund managers have less management ability than male fund managers.This article investigates whether gender factors have an impact on the performance of the fund and on the individual capabilities of the fund manager from the gender perspective of fund managers,and the performance and ability of female fund managers is no less than that of male fund managers.The study of gender belongs to the category of sociology.Therefore,this article takes the theory of gender,feminism and feminist political economy as the theoretical basis of this article.This article collects open-ended equity funds that have persisted between January 1,2015,and December 31,2017 as research samples.The time interval is divided into three sub-intervals.By using propensity score matching method,the matched treatment group and the control group were compared.Through the above steps to analyze the impact of gender on the characteristics of the fund and whether female fund managers’ ability to choose the timing of the stock market is weaker than the male fund managers.The fund performance studied in this paper refers to a broad range of performance,including fund performance and fund risk.This empirical study found that:In 2017 and 2015,funds managed by female fund managers are not significantly different in fund characteristics from funds managed by male fund managers.There was no significant difference between stock picking ability and timing ability.In 2016,funds managed by female fund managers performed better than male fund managers at the fund’s performance on a Sharpe ratio and Jensen index,and the difference was significant.Gender did not significantly affect the fund’s characteristic variables,and there was no significant difference between male and female fund managers’ stock picking ability and timing ability.The above research shows that there is no significant difference in management abilities between female fund managers and male fund managers.Therefore,society should change its stereotype of women’s traditions,give full play to the potential of women.They should support women enter into core areas of work.Fund companies should change the traditional way of thinking.They should give female managers and women who are interested in fund managers more opportunities.Government departments should continue to promote equality between men and women and improve the relevant legal provisions.The mass media should promote the correct gender perspective and help the public establish the correct concept.Women themselves should work hard and have the courage to pursue their own careers.The research in this paper can enrich the existing researches on the impact of fund managers’ personal characteristics on the fund manager’s ability,especially from the gender perspective alone.This has a good research significance. |
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