AFFECT

Academic Female Finance Committee

A Committee of the AFA

The Academic Female Finance Committee (AFFECT) is a committee of the American Finance Association and is designed to promote the advancement of women academics in the field of finance.

AFFECT Board – Click here to see current Board members

Why AFFECT?

  • There are relatively few women in senior positions in finance.
  • It seems that women are not advancing at the same rate as men.
  • In many STEM fields the gender gap has narrowed.  However, in economics it has not.  Casual observation evidence suggests that the gender gap is also not narrowing in finance.

Some evidence

  • Women are less likely to get tenure
    • After controlling for all observable factors, including both productivity and family commitments, women in economics are 20% less likely than men to get tenure and 50% less likely to be promoted to the rank of full professor.  The gap is even larger for single women and women without children (Ginther and Kahn, 2014)
  •  In co-authored work, men tend to get more credit than women
  • Women are rarely chosen as keynote speakers
    • Western Finance Association Conference:  over 38 years, only 1 women has been a keynote speaker
    • World Finance Conference:  over 10 years and 19 keynote speakers, zero have been women
    • This article in The Atlantic suggests that such statistics would not happen randomly
  • In STEM fields that have been more pro-active on gender issues,

 

What can AFFECT do?

  • Collect more systematic evidence
    • While systematic data are available for the field of economics (see here), we have less evidence for finance.  We will collect systematic evidence on:
      • Women’s representation in PhD programs
      • Women’s representation in the faculty, at different levels
      • Women’s representation in conferences
      • Women’s representation on panels, as keynote speakers
  • Raise awareness regarding the representation of women
    • In seminar series
    • In conferences
    • In applicant pools

 

We hope to work with other organizations who strive for gender equality

  • Other academic women’s associations
    • The AEA’s Committee for the Status of Women in the Economics Profession (CSWEP) was founded in 1971
    • The Canadian Women Economists Network (CWEN) was founded in 1990
    • The Royal Economic Society’s Women’s Committee was founded in 1996
    • Finance and Economics Women (FEW) was founded in Australia in 2010
  • Practitioner associations
    • In addition, we also hope to work with other associations in our profession, both academic and practitioner-oriented

 

AFFECT was founded as a committee of the AFA in 2015