A new book by Jay Newton-Small suggests women traders would not have taken the same risks and could have avoided the crisis. Several studies have established that high levels of testosterone lead to more risk-taking actions (such as the financial bubbles of Wall Street). It’s also known that the presence of women tends to lower the levels of testosterone. When the credit crash happened in 2008, anxiety took over, and that caused male bodies to produce more cortisol. Researchers say cortisol clouded the bankers’ judgement. Other studies show that females respond to male’s cortisol with oxytocin, a hormone that promotes nurturing emotions and calm. So had more women been on Wall Street when the bubble burst, it is quite likely that they could have helped avoid the crisis that ensued.
Female leaders might have prevented the financial crisis
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