Gender Stereotypes and Entrepreneur Financing
Abstract I document a significant gender gap in entrepreneurs’ access to early-stage equity financing. Using unique administrative data on French startups, I show that this gap is particularly pronounced in male-dominated sectors. Controlling for a comprehensive set of entrepreneur and startup characteristics—including demographics, backgrounds, and motivations—accounts for 42% of the average gender gap. However, in male-dominated sectors, 80% of the gap remains unexplained. Growth-oriented female entrepreneurs rely more heavily on bank loans, substituting equity with debt. Finally, VC-backed female-founded startups outperform their male counterparts in male-dominated sectors. These findings suggest that context-dependent stereotypes influence equity financing decisions.
- DOI
- 10.1093/rfs/hhaf049
- Volume
- 39 (7)
- Pages
- 1970-2017
- Language
- en
- Export
- BibTeX
- Sources
- openalex crossref