The Lehman Sisters Hypothesis: an exploration of literature and bankers

Abstract This article tests the Lehman Sisters Hypothesis in two complementary, although incomplete ways. It reviews the diverse empirical literature in behavioral, experimental, and neuroeconomics as well as related fields of behavioral research. And it presents the findings from an explorative survey among Dutch financial professionals. The conclusion is that both methods find support for the Lehman Sisters Hypothesis. It shows that gender stereotypes are still influential, constraining women to achieve top positions in banking. At the same time, the analysis indicates that women perform better than men in finance and that female leaders have more balanced management skills than men and are rated as better leaders. This would plea for having more rather than less women at the top of the financial sector.