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Compared to their male peers, female entrepreneurs tend to face greater obstacles in raising venture funding from business angels, venture capitalists, and financial institutions. In this paper, we investigate whether this gender gap also exists in equity crowdfunding. Based on data from the German equity crowdfunding market, we find that ventures with and without female managing directors are equally successful in raising capital when launching their first equity crowdfunding campaign. In contrast, the former are significantly less successful than their peers in seasoned equity crowdfunding campaigns, and this disparity cannot be fully explained by differences in other venture-related or entrepreneur-related characteristics. However, we also find that the gender gap in seasoned offerings narrows if female entrepreneurs set more ambitious funding thresholds. Overall, our results indicate that pitching their equity crowdfunding campaigns in a more promotion-oriented way is a sensible strategy for female entrepreneurs to improve funding success. Plain English Summary: Equity crowdfunding enables female entrepreneurs to narrow the "gender gap" in venture financing. In this paper, we investigate whether the entrepreneurs' gender affects how successful they are in attracting capital in the German equity crowdfunding market. Our results indicate that the gender of a firm's managing director does not affect the funding outcome in initial equity crowdfunding campaigns. In seasoned equity crowdfunding offerings, though, we identify a gender gap in the sense that ventures with female managing directors are significantly less successful in raising capital from crowd investors than ventures solely led by men. However, this gender gap in seasoned offerings narrows for bolder campaign pitches. Hence, setting a higher funding threshold seems to be a simple and straightforward strategy for female entrepreneurs to increase the odds of reaching their funding targets. [ABSTRACT FROM AUTHOR]

Female entrepreneurs perform significantly better when guided by a female—as opposed to a male—mentor. Among the millions of entrepreneurs in developing economies, few are able to earn a decent livelihood. To help these entrepreneurs succeed, governmental and nongovernmental organizations invest billions of dollars every year in providing training programs. Many of these programs involve providing entrepreneurs with mentors. Unfortunately, the effects of these programs are often muted, or even null, for woman-owned firms. Against this backdrop, we tested whether gender matching, where female entrepreneurs are randomly paired with a female mentor, could help address the gender gap. Findings from a randomized controlled field experiment with 930 Ugandan entrepreneurs show that mentor gender has a powerful impact on female entrepreneurs. Firm sales and profits of female entrepreneurs guided by a female mentor increased by, on average, 32% and 31% compared with the control group, and these estimates are even larger for female entrepreneurs with high aspirations. In contrast, female entrepreneurs guided by a male mentor did not significantly improve performance compared with the control group. We provide suggestive mechanism evidence that female mentor-mentee arrangements were characterized by more positive engagements. History: Catherine Tucker served as the senior editor for this article. This paper has been accepted for the Marketing Science Special Section on DEI and through the Marketing Science: Frontiers review process. Conflict of Interest Statement: All authors certify that they have no affiliations with or involvement in any organization or entity with any financial interest or nonfinancial interest in the subject matter or materials discussed in this manuscript. Funding: This research was supported by grants from the UK Department for International Development (DFID) and Economic and Social Research Council's (ESRC) joint Growth Research Program, the Deloitte Institute for Innovation and Entrepreneurship (DIIE), and the universities the authors were affiliated with when the research was conducted. Supplemental Material: The online appendix and data files are available at https://doi.org/10.1287/mksc.2023.0108. [ABSTRACT FROM AUTHOR]

Women entrepreneurs are a promising yet under-supported group that have notable impacts on the economy. Recent societal attempts to empower female entrepreneurs and their critical role in economic development have motivated research on determinants of women's participation in entrepreneurship and what can reduce gender disparities in this field. Drawing on insights from information economics, this paper emphasizes the recent transformations through digital technologies and examines the effect of digital readiness of an economy on women's ability to close the gap on entrepreneurial activities. Using a sample of international observations over the 2010-2016 period, we show that the capability of an economy to exploit digital opportunities increases female participation in opportunitydriven entrepreneurship. The results also indicate that the positive role of digital readiness in women's entrepreneurship strengthens in populations with higher perceived opportunity and, more interestingly, higher fear of failure. [ABSTRACT FROM AUTHOR]

Purpose – Despite gender parity in the general working population, the higher up one looks in ranks within the firm the fewer women one finds. This under-representation of women in top positions at firms is purportedly even more acute in Latin America and the Caribbean (LAC). LAC is a large and increasingly important region of the world where women are well-represented in the workforce and are comparatively better educated than men. Documenting if this resource is utilized at full potential is therefore of crucial importance. The purpose of this paper is to document the level and impact of female representation at the executive level in the region, as no systematic study exists on this topic. Design/methodology/approach – The authors collect an original database of publicly listed companies to determine prevailing gender ratios among board members and executives in LAC region. The authors then estimate whether companies with women board members are more likely to appoint women executives. Finally, the authors estimate whether measures of female leadership at the firm are correlated with company performance. Findings – The authors find that women are as under-represented in LAC as in the USA, but much less so in the Caribbean. The authors find that companies with women board members are more likely to appoint women executives in LAC. The authors find that measures of female leadership at the firm are correlated with company performance but only regarding board membership and only when the proportion of women on the board is greater than 30 percent. Again composition effects are important. Overall, the authors conclude that the LAC region exhibits empirical regularities about under-representation of women in leadership positions at the firm that are very similar to those found for high-income countries in Europe and North America. Originality/value – The authors are the first and so far unique systematic study exists able to document the level and impact of female representation at the executive level in the region. [ABSTRACT FROM AUTHOR]

Although it seems almost a stylized fact that females are less likely than males to start new ventures, closing this gender gap is essential to foster sustainable economic growth. In this study, we analyze whether gender inequality, as measured at the country level by the World Economic Forum since 2006, is associated with the gender gap in entrepreneurship. By analyzing country-level information about gender inequality (97 countries) in combination with individual-level data from the Global Entrepreneurship Monitor (1,905,665 individuals) from the years 2006 to 2017, we find that in more gender equal countries involvement in total early-stage entrepreneurial activity (TEA) is higher. Gender inequality moderates the effect of gender on TEA, by almost closing the gender gap in entrepreneurship in the most gender equal countries. We show that gender inequalities in economic participation and opportunity as well as in political empowerment are the main drivers of this interaction effect. We find similar patterns when distinguishing between opportunity-driven and necessity-driven TEA. With opportunity-driven entrepreneurship as a potential vehicle for the economic empowerment of females, our study highlights the role of policies stimulating gender equality. [ABSTRACT FROM AUTHOR]

Male entrepreneurs are known to raise higher levels of funding than their female counterparts, but the underlying mechanism for this funding disparity remains contested. Drawing upon regulatory focus theory, we propose that the gap originates with a gender bias in the questions that investors pose to entrepreneurs. A field study conducted on question-and-answer interactions at TechCrunch Disrupt New York City during 2010 through 2016 reveals that investors tend to ask male entrepreneurs promotion-focused questions and female entrepreneurs prevention-focused questions, and that entrepreneurs tend to respond with matching regulatory focus. This distinction in the regulatory focus of investor questions and entrepreneur responses results in divergent funding outcomes for entrepreneurs whereby those asked promotion-focused questions raise significantly higher amounts of funding than those asked prevention-focused questions. We demonstrate that every additional prevention-focused question significantly hinders the entrepreneur’s ability to raise capital, fully mediating gender’s effect on funding. By experimentally testing an intervention, we find that entrepreneurs can significantly increase funding for their startups when responding to prevention-focused questions with promotion-focused answers. As we offer evidence regarding tactics that can be employed to diminish the gender disadvantage in funding outcomes, this study has practical as well as theoretical implications for entrepreneurship. [ABSTRACT FROM AUTHOR]

Research Summary: This study investigates whether there is a gender gap in the sale of patents by entrepreneurs and examines whether the personal wealth of female entrepreneurs can compensate for it. Using a sample of 107,697 independent inventors, we overcome the empirical challenge of measuring wealth through a novel approach that leverages Zillow data. We find strong evidence of a gender gap in patent sales, and find it poses a cruel irony for female entrepreneurs. While greater wealth of female entrepreneurs improves their likelihood of patent sale, increasing wealth simultaneously expands the gender gap, making female entrepreneurs increasingly worse off relative to male entrepreneurs except at high affluence. These results underscore the complexity of the challenges facing female entrepreneurs seeking to commercialize using patent sales. Managerial Summary: Are female entrepreneurs disadvantaged in monetizing their inventions, relative to male entrepreneurs? Our study, which examines invention commercialization through selling patents, suggests the answer is yes. We begin by evidencing the gender gap in patent sales, showing that female inventors are 41.7% less likely to sell a patent than male inventors. We then investigate whether an entrepreneur′s personal wealth—a financial asset that also represents valuable intangible resources like network connections and competency signals—can help to close it. We find that wealth is a double‐edged sword. Although greater wealth of female entrepreneurs improves their likelihood of patent sale, it can concurrently widen the gap, making them increasingly worse off versus male entrepreneurs. We offer concrete recommendations for closing the gender gap in patent sales. [ABSTRACT FROM AUTHOR]

This article examines the challenges and obstacles faced by female entrepreneurs in the cottage, micro, small, and medium enterprise (CMSME) sector in Bangladesh and shows that a combination of legislatory and regulatory reform can mitigate many of the issues that prevent women gaining from, and contributing to, this vital economic sector. Access to finance is found to be the greatest challenge faced by women in starting and operating CMSMEs in Bangladesh. This article explores the significant gender gap in access to formal credit, a gap that impacts negatively on the sector's growth and development. The article uses liberal feminist theory as a framework for analysis of the reforms. Analysis of data collected from banks and financial institutions on CMSME loans (2010–2018) shows that female entrepreneurs are treated significantly differently from men by financial institutions in Bangladesh. [ABSTRACT FROM AUTHOR]

Financial capital is a critical resource for growing firms, yet women entrepreneurs received very small percent of the funding. This research updates earlier research by the Diana Project using a data base of all venture capital funded firms in the US. We compare funding in those firms led by men and women across stage, sector, state, region and outcomes. Results show women have made progress in attracting venture capital, although there is still a significant gender gap. A research framework and future research directions are proposed. [ABSTRACT FROM PUBLISHER]

The Constitution of India ensures equal treatment to all its citizens without any discrimination. On the contrary, the patriarchal roots of the Indian society have subjected women to experience severe inequalities. This has resulted in a wide gender gap, which has been perceived to affect all the facets of a woman's life. The field of entrepreneurship is also witnessing an intensified gender gap due to the lack of adequate education/appropriate training among budding women entrepreneurs. To bring out more successful entrepreneurs, an empowering learning system is an indispensable need. Hence, the present experimental study aims to build and analyse the effectiveness of an innovative learning environment incorporating feminist pedagogy and the social web. Feminist pedagogy- a democratic system that facilitates active, collaborative and communal learning -was adopted for offering entrepreneurial training. For reaching the socially oppressed and geographically diverse Indian women, Facebook was used as a virtual learning system. [ABSTRACT FROM AUTHOR]

The spur of innovative startups has provided an unprecedented opportunity for female entrepreneurship. However, the mainstream literature on startups has elaborated a gender performance gap hypothesis. Considering the speed of technological, social, and cultural changes that have taken place in this millennium, we wonder if this gap can still be found today, with particular reference to new technology-based ventures. A financial analysis has been conducted on a sample of innovative Italian startups, and the following variables have been used to assess the company's success: (i) size, (ii) profitability, (iii) efficiency, (iv) financial structure, and (v) financial management. Our results reveal that as far as financial performance is concerned, innovative female-led startups do not lag behind male ones in terms of dimension, company profitability, efficiency, and financial management. However, findings confirmed, even for our sample, that female businesses raise, on average, a lower amount of financial resources in comparison to men. [ABSTRACT FROM AUTHOR]