The research analysed films and series about finance and investing from the past 15 years (Image: Paramount Pictures)
Women are falling behind men when it comes to investing and saving, a gender investment gap that has been estimated at around £567billion – and and TV portrayals of men and women are reportedly to blame.
On-screen depictions of finance and investing play a key role in reinforcing the stereotypes that perpetuate the gender investment gap, research from Dr Ylva Baeckström of King’s Business School, King’s College London believes.
Dr Baeckström was commissioned by trading and investing platform to look at ways of encouraging more women to invest.
Her research analysed major films and series about finance and investing from the past 15 years – including The Wolf of Wall Street, The Big Short and recent hit Industry.
Dr Baeckström found that three-quarters of screen time was occupied by male financial experts, and almost half are CEOs, while there is not a single depiction of a female CEO.
She said: “Women are portrayed as supportive or ancillary characters: wives, partners, administrative assistants, or in sexualised roles (strippers and mistresses).
“While over 85% of active parenting in the films and TV series is taken care of by mothers, not a single female character who is a financial expert has a child.
“These on-screen depictions, while sadly unsurprising, are deeply disappointing and have a potentially disastrous impact on society. We all know that women earn less, invest less, yet live longer than men and therefore have an even greater need to build wealth to secure their futures.
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“It has been proven that what we watch on screen affects our attitudes and influences our behaviour. The misrepresentation of finance and investing as a pursuit for ‘alpha males’ and the lack of female role models are perpetuating the gender investment gap.”
Where films and TV series do feature female financial experts, they tend to feed into stereotypes of women being less confident, knowledgeable and more risk-averse when it comes to making financial decisions than men, the expert believes.
The majority of women in senior roles ‘power dress’, with suits and heels to convey authority and confidence, while men exhibit a far wider range of styles. The effect is that men appear freer to adapt their appearance according to their personality, with women tied to an archetype within the world of finance, the research suggested.
“We observed a slight improvement over the past 15 years, with films such as Fair Play and more recent episodes of Billions introducing stronger women in roles that highlight their capabilities, struggles and complexity”, said Dr Baeckström.
“Movies have the power to demonstrate the reality that investing is for everyone, regardless of gender and background. Ordinary people, including women, need to be inspired and encouraged, not excluded and disrespected.”
Lale Akoner, global markets analyst at eToro, said the entertainment industry’s portrayal of women in finance and investing is actively discouraging women with its toxic depictions. She said: “We know that a lack of confidence and the perception that investing is too complicated hold women back from investing, yet we’re seeing films and TV series perpetuate these myths.
“Closing the gap isn’t just the right thing to do, it’s essential to building a strong and inclusive society, where women have the same opportunity to build their wealth in a way that supports their goals. There is a need for female role models both on-and off-screen to encourage us all to talk more about money and to inspire the next generation of female investors.”
eToro commissioned the research as part of the launch of its Loud Investing campaign.
It has partnered with online financial adviser and asking women who invest to have one conversation about investing with a female friend, relative or colleague, sharing their experiences and inspiring others. Ms Akoner said: “Because one conversation could change a financial future.”