Promotions, Race, and Glass Ceilings
Welcome to Higher Seminar in Economics organised by the Department of Economics, SSE. The seminar speaker is Alexander Ljungqvist, Professor in Financial Economics at Stockholm School of Economics. Alexander is an eclectic economist with a wide array of research interests ranging from corporate finance to entrepreneurial finance, initial public offerings, corporate governance, investment banking, and empirical asset pricing. Alexander is also the recipient of many prizes and awards and has served as editor of the Review of Financial Studies for several years.
Alexander will present Promotions, Race, and Glass Ceilings (joint work with Deepak Hegde and Manav Raj).
ABSTRACT: Black and Hispanic examiners are underrepresented in the patent office’s senior ranks, are less likely to be promoted, and conditional on promotion, take longer to be promoted than White examiners. Holding productivity and work quality constant, we find large promotion gaps relative to White examiners, averaging 23.1% for Blacks and 12% for Hispanics. While the promotion gap is pervasive across all ranks, it is larger for senior promotions, consistent with a glass ceiling: Black examiners are 70.3% less likely than Whites to be promoted to the highest rank. Using test scores, we find no evidence that minority examiners are less able. Instead, we find evidence consistent with co-race bias: White examiners are more likely to be promoted only when their managers are also White; otherwise, they are as likely to be promoted as minority examiners. Finally, we show that promotion gaps have adverse effects on the services the patent office provides to inventors and society.
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