What drives women out of management? The joint role of testosterone and culture

Luigi Guiso, Aldo Rustichini

Research output: Contribution to journalArticlepeer-review

9 Scopus citations


Exploiting variation across communities in indices correlated with women emancipation, we show that in regions where women are less emancipated the average 2D4D Digit Ratio is lower than that of men compared to regions with higher indices, a finding that is consistent with the existence of gender related obstacles into management. This finding can explain why: (a) fewer women than men are managers; (b) the proportion of women among managers is higher in countries with higher women emancipation; (c) women managers show more masculine traits. Once women enter management, they are equally able than man.

Original languageEnglish (US)
Pages (from-to)221-237
Number of pages17
JournalEuropean Economic Review
StatePublished - Oct 2018

Bibliographical note

Funding Information:
We thank seminar participants at the European University Institute and EIEF. Aldo Rustichini acknowledges financial support of the ESRC grant RES-062-23-1385.

Publisher Copyright:
© 2017 Elsevier B.V.


  • Digit Ratio
  • Management
  • Managerial ability
  • Testosterone
  • Women emancipation


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