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Exploring Gender Differences in Marital and Parental Income Premiums Among Financial Advisors
Journal of Family and Economic Issues ( IF 2.3 ) Pub Date : 2021-05-06 , DOI: 10.1007/s10834-021-09766-4
Derek T. Tharp , Elizabeth J. Parks-Stamm , Meghaan Lurtz , Michael Kitces

This study examined marital and parental income premiums among financial advisors. Financial advisors provide an interesting context for exploring such premiums, as financial advising is a historically male-dominated profession that has been found to exhibit large unadjusted gender pay gaps. Using a large, cross-sectional sample of financial advisors recruited via a professional continuing education website (n = 459), this study investigates whether gender differences exist among financial advisors with respect to the marriage premium, the parenthood premium, the parental leave effect, and the stay-at-home spouse premium. This study examined premiums both with and without potentially endogenous human capital covariates. Without including potentially endogenous covariates, a marriage premium was observed among men but not women, a parenthood premium was observed among women and a penalty observed among men, a parental leave penalty was observed among neither men nor women, and a stay-at-home spouse premium was observed among men but not women. When potentially endogenous covariates were included, a marriage penalty was observed among women but not men, a parenthood premium was observed among women while a parenthood penalty was observed among men, a parental leave premium was observed among men but not women, and a stay-at-home spouse premium was observed among men while a stay-at-home spouse penalty was observed among women. Exploratory Blinder-Oaxaca decomposition analyses revealed sizeable unadjusted income gaps by gender (15.0%), marriage (40.2%), parenthood (7.4%), parental leave (11.6%), and spousal employment (41.0%).



中文翻译:

探索财务顾问中婚姻和父母收入保费的性别差异

这项研究检查了财务顾问中的婚姻和父母收入保费。财务顾问为探索此类保险费提供了有趣的环境,因为财务咨询是一个历史上男性占主导地位的职业,发现该职业表现出较大的未经调整的性别薪酬差距。本研究使用通过专业继续教育网站(n = 459)招募的大型跨领域财务顾问样本,调查了财务顾问之间是否存在性别差异,例如结婚保险费,育儿费,育儿假,以及留在家里的配偶保费。这项研究检查了有或没有潜在内生人力资本协变量的保费。在不包括潜在的内源性协变量的情况下,在男性中观察到了结婚溢价,而在女性中没有,在妇女中观察到育儿费,在男子中观察到罚金,在男子和妇女中均未观察到育儿假处罚,在男子而非妇女中观察到了全职配偶保险费。如果包括潜在的内源性协变量,则在女性而不是男性中观察到了结婚惩罚,在女性中观察到了育儿假,而在男性中观察到了育儿假,男性中观察到了育儿假费用,而女性中没有观察到育儿假。在男性中观察到家庭配偶溢价,而在女性中观察到留在家里的配偶罚款。探索性Blinder-Oaxaca分解分析显示,按性别(15.0%),婚姻(40.2%),父母身份(7.4%),育儿假(11.6%)和配偶就业(41.0%),未调整的收入差距相当大。

更新日期:2021-05-07
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