- Category: Widget
- Published: Tuesday, 24 February 2015 17:23
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Research: Women Excel Over Men
In Some Financial Negotiations
Staten Island commercial bank cites analysis of negotiating acumen
STATEN ISLAND, N.Y. – Contrary to some beliefs, women may drive a harder bargain than men under a variety of circumstances.
Victory State Bank, Staten Island's only community-based business bank, offers that societal changes may not give traditional weighting to gender roles in doing deals.
In fact, given certain circumstances, women may be more effective than men when negotiating financial matters, according to a new analysis published by the American Psychological Association (APA).
Women bargain best when they have negotiation experience, know about the bargaining range and represent another person, the study found.
In this context, it turns out that women outperform men in some financial negotiations.
Researchers found that negotiation results depended on the situation and the person involved.
When women negotiated on behalf of another person, when they knew about the bargaining range in the negotiations and when they had experience in negotiating, they were better at it than men.
Society's beliefs about gender roles may be at the root of men's advantage in some negotiations, the authors wrote.
Previous research has found that gender roles reflect certain expectations of men's and women's behavior.
Male gender role characteristics include behaving in competitive, assertive or profit-oriented ways, whereas the traditional female gender role has communal characteristics, such as being relationship-oriented, accommodating and concerned with the welfare of others, APA reported.
"Women in negotiations might feel social pressure to adhere to the female role and display gender-consistent behavior such as accommodation or cooperation," the study said.
When women behave in a manner not consistent with society's expectations, they have historically risked backlash and disapproval, the authors noted.
"Our analysis suggests ways to lessen or even reverse gender differences in negotiations favoring men," said co-lead author Joachim Hüffmeier, PhD, of the Federal Institute for Occupational Safety and Health, Dortmund, Germany.
"It looks as though gender roles no longer give men a bargaining advantage if women are trained in negotiation, have information about the bargaining range and if they are negotiating for other individuals."
The analysis looked exclusively at research that had compared and reported final economic negotiation outcomes achieved by women and men in actual negotiations.
Examples included negotiating for an increase in one's own salary and negotiating a financial interest on behalf of a client, friend or on behalf of an organization or company.
While women performed better when negotiating on behalf of another individual, such was not the case when they negotiated on behalf of themselves or on behalf of a large organization, according to the study.
"It remains to be seen if this effect would hold when negotiating for smaller social entities, such as a team, workgroup or family," the authors wrote.
Researchers examined 51 studies from several countries, including the U.S., The Netherlands, Germany, India and China, with a total of 10,888 participants, of whom 4,656 were women and 6,232 were men. The samples included business people as well as graduate and undergraduate students.
About Victory State Bank
VSB Bancorp, Inc. (OTCQX: VSBN) is the one-bank holding company for Victory State Bank. As Staten Island, N.Y.’s only community-based commercial bank, Victory State Bank operates five full-service locations on the Island: The main office is in the community of Great Kills, and branches are in the communities of West Brighton, St. George, Dongan Hills and Rosebank. For additional information, Victory State Bank may be reached at 718-979-1100 or visited online at www.VictoryStateBank.com.