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<p>This study investigates the impact of changing gender bias on the career advancement and forecasting performance of female analysts. By using the #MeToo movement as a shock to the prevailing gender-based discrimination, we find that women experience improvements in participation and promotion in the equity research profession. #MeToo has fostered a more gender-inclusive environment both in the brokerages where analysts work and the firms they cover, as evidenced by more performance based promotion assessments and improved access to management for female analysts. Female analysts’ forecast performance improves significantly after #MeToo, in terms of accuracy, frequency, timeliness, depth, and breadth. The improvement is more pronounced when the movement triggers heightened awareness of gender bias. Collectively, this study demonstrates how the #MeToo movement reduces gender bias in equity research profession and enhances female analyst performance.</p>

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Gender bias and female analyst performance: evidence from the #MeToo movement

  • 期刊论文

  • 发表日期：

    2026年7月3日

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  • Rubin Hao,
  • Shikong Scott Luo,
  • Jing Xue,
  • Haoyi Yang

摘要

This study investigates the impact of changing gender bias on the career advancement and forecasting performance of female analysts. By using the #MeToo movement as a shock to the prevailing gender-based discrimination, we find that women experience improvements in participation and promotion in the equity research profession. #MeToo has fostered a more gender-inclusive environment both in the brokerages where analysts work and the firms they cover, as evidenced by more performance based promotion assessments and improved access to management for female analysts. Female analysts’ forecast performance improves significantly after #MeToo, in terms of accuracy, frequency, timeliness, depth, and breadth. The improvement is more pronounced when the movement triggers heightened awareness of gender bias. Collectively, this study demonstrates how the #MeToo movement reduces gender bias in equity research profession and enhances female analyst performance.