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New Venture Financing and Subsequent Business Growth in Men– and Women–Led Businesses

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  • Gry Agnete Alsos
  • Espen John Isaksen
  • Elisabet Ljunggren
Abstract
This study investigates the possible funding gap for women–owned compared with men–owned new businesses. With longitudinal data from new businesses in Norway, gender differences in funding perceptions and behaviors, as well as in actually obtained amounts of funding, are explored. While there are few detected gender differences with respect to funding perceptions and behavior, women obtain significantly less financial capital to develop their new businesses. Moreover, the results indicate that the lower levels of financial capital that women business founders achieve are associated with lower early business growth compared with their male counterparts.

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  • Gry Agnete Alsos & Espen John Isaksen & Elisabet Ljunggren, 2006. "New Venture Financing and Subsequent Business Growth in Men– and Women–Led Businesses," Entrepreneurship Theory and Practice, , vol. 30(5), pages 667-686, September.
    • Handle: RePEc:sae:entthe:v:30:y:2006:i:5:p:667-686
    DOI: 10.1111/j.1540-6520.2006.00141.x
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    References listed on IDEAS

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    3. Pourya Darnihamedani & Siri Terjesen, 2022. "Male and female entrepreneurs’ employment growth ambitions: the contingent role of regulatory efficiency," Small Business Economics, Springer, vol. 58(1), pages 185-204, January.
    4. Naegels, Vanessa & Mori, Neema & D'Espallier, Bert, 2022. "The process of female borrower discouragement," Emerging Markets Review, Elsevier, vol. 50(C).
    5. Irene Comeig & Ainhoa Jaramillo-Gutiérrez & Federico Ramírez, 2022. "Are credit screening contracts designed for men?," Service Business, Springer;Pan-Pacific Business Association, vol. 16(4), pages 883-905, December.
    6. Pavlova, Elitsa & Gvetadze, Salome, 2023. "Female access to finance: A survey of literature," EIF Working Paper Series 2022/87, European Investment Fund (EIF).
    7. Zhao, Xi & Lin, Chunyi & Knerr-Sievers, Beatrice & Lu, Qiuting & Mardani, Abbas, 2023. "The impact of institutional environment on entrepreneurial performance in micro E-commerce for Women: The mediating role of entrepreneurial network," Journal of Business Research, Elsevier, vol. 154(C).
    8. Blount, Ian & Triana, Maria del Carmen & Richard, Orlando & Li, Mingxiang, 2023. "How women CEOs’ financial knowledge and firm homophily affect venture performance," Journal of Business Research, Elsevier, vol. 155(PA).
    9. Caglayan, Mustafa & Talavera, Oleksandr & Xiong, Lin, 2022. "Female small business owners in China: Discouraged, not discriminated," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 80(C).
    10. Geiger, Mark, 2020. "A meta-analysis of the gender gap(s) in venture funding: Funder- and entrepreneur-driven perspectives," Journal of Business Venturing Insights, Elsevier, vol. 13(C).
    11. Chiara Cannavale & Giorgia Rivieccio & Lorenza Claudio & Iman Zohoorian Nadali, 2023. "The impact of gender egalitarianism on entrepreneurial cognition: a multilevel analysis," Quality & Quantity: International Journal of Methodology, Springer, vol. 57(5), pages 4803-4826, October.
    12. Seigner, Benedikt David Christian & Milanov, Hana, 2023. "Mirror, mirror—A gendered lens on female entrepreneurs’ facial attractiveness in reward-based crowdfunding," Journal of Business Venturing Insights, Elsevier, vol. 20(C).
    13. Jiang, Yiqi & Jiang, Zhou & Chen, Zhijun, 2024. "Women entrepreneurship in China: A bibliometric literature review and future research agenda," Journal of Business Research, Elsevier, vol. 179(C).
    14. Elitzur, Ramy & Solodoha, Eliran, 2021. "Does gender matter? Evidence from crowdfunding," Journal of Business Venturing Insights, Elsevier, vol. 16(C).
    15. Deng, Wei & Orbes, Irina & Ma, Pengcheng, 2024. "Necessity- and opportunity-based female entrepreneurship across countries: The configurational impact of country-level institutions," Journal of International Management, Elsevier, vol. 30(4).

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