Women on wall street: Despite diversity measures, wall street remains vulnerable to sex discrimination charges

Shaken by sexual harassment charges and costly lawsuits, Wall Street in the late 1990s saw a real shift away from its "old boy network" past - at least on paper anyway. In response to sexual harassment suits, many firms on Wall Street implemented strict sexual harassment policies, and even family friendly work-life balance policies. Unfortunately, the lawsuits have continued, prompting many to wonder why Wall Street continues to be so hostile to anyone other than white males. In a research study conducted in 1998 and 1999 with 76 men and women working on Wall Street, I found a number of reasons why change has been so slow in the making. Copyright of the Academy of Management, all rights reserved.