Firm, owner, and financing characteristics: differences between female- and male-owned small businesses
AbstractDifferences in financing patterns and financial characteristics between female- and male-owned firms are often attributed to imperfections in credit markets. However, these differences could arise for many reasons, such as differences in the characteristics and preferences of owners and firms. The differences in lending patterns by gender may in fact have little or nothing to do with supply side factors or market imperfections. The goal of our paper is to test the hypothesis that differences in financing patterns between female- and male-owned small businesses can be explained by differences in business, credit history, and owner characteristics other than gender. In what follows, we first describe how owner, business, and financing characteristics of female-owned businesses differ from male-owned businesses. We then conduct a multivariate analysis of indicators of credit use and recent lending experiences, modeling each of these as a function of firm, owner, and credit history characteristics.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Board of Governors of the Federal Reserve System (U.S.) in its series Finance and Economics Discussion Series with number 2002-18.
Date of creation: 2002
Date of revision:
This paper has been announced in the following NEP Reports:
- NEP-ALL-2002-05-07 (All new papers)
- NEP-CFN-2002-05-07 (Corporate Finance)
- NEP-ENT-2002-05-03 (Entrepreneurship)
- NEP-MFD-2002-05-07 (Microfinance)
- NEP-MIC-2002-05-07 (Microeconomics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Cooper, Arnold C. & Woo, Carolyn Y. & Dunkelberg, William C., 1989. "Entrepreneurship and the initial size of firms," Journal of Business Venturing, Elsevier, vol. 4(5), pages 317-332, September.
- Evans, David S & Jovanovic, Boyan, 1989. "An Estimated Model of Entrepreneurial Choice under Liquidity Constraints," Journal of Political Economy, University of Chicago Press, vol. 97(4), pages 808-27, August.
- Berger, Allen N & Udell, Gregory F, 1995. "Relationship Lending and Lines of Credit in Small Firm Finance," The Journal of Business, University of Chicago Press, vol. 68(3), pages 351-81, July.
- David G. Blanchflower & Phillip B. Levine & David J. Zimmerman, 2003.
"Discrimination in the Small-Business Credit Market,"
The Review of Economics and Statistics,
MIT Press, vol. 85(4), pages 930-943, November.
- David G. Blanchflower & Phillip B. Levine & David J. Zimmerman, 1998. "Discrimination in the Small Business Credit Market," NBER Working Papers 6840, National Bureau of Economic Research, Inc.
- Riding, Allan L. & Swift, Catherine S., 1990. "Women business owners and terms of credit: Some empirical findings of the Canadian experience," Journal of Business Venturing, Elsevier, vol. 5(5), pages 327-340, September.
- Petersen, Mitchell A & Rajan, Raghuram G, 1994. " The Benefits of Lending Relationships: Evidence from Small Business Data," Journal of Finance, American Finance Association, vol. 49(1), pages 3-37, March.
- Blackwell, David W & Winters, Drew B, 1997. "Banking Relationships and the Effect of Monitoring on Loan Pricing," Journal of Financial Research, Southern Finance Association & Southwestern Finance Association, vol. 20(2), pages 275-89, Summer.
- Boden, Richard Jr., 1996. "Gender and self-employment selection: An empirical assessment," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 25(6), pages 671-682.
- Sabarwal, Shwetlena & Terrell, Katherine, 2008.
"Does gender matter for firm performance ? evidence from Eastern Europe and Central Asia,"
Policy Research Working Paper Series
4705, The World Bank.
- Sabarwal, Shwetlena & Terrell, Katherine, 2008. "Does Gender Matter for Firm Performance? Evidence from Eastern Europe and Central Asia," IZA Discussion Papers 3758, Institute for the Study of Labor (IZA).
- Reyes Aterido & Mary Hallward-Driemeier, 2011. "Whose business is it anyway?," Small Business Economics, Springer, vol. 37(4), pages 443-464, November.
- Bellucci, Andrea & Borisov, Alexander & Zazzaro, Alberto, 2010.
"Does gender matter in bank-firm relationships? Evidence from small business lending,"
Journal of Banking & Finance,
Elsevier, vol. 34(12), pages 2968-2984, December.
- Andrea Bellucci & Alexander V. Borisov & Alberto Zazzaro, 2009. "Does Gender Matter in Bank-Firm Relationships? Evidence from Small Business Lending," Mo.Fi.R. Working Papers 31, Money and Finance Research group (Mo.Fi.R.) - Univ. Politecnica Marche - Dept. Economic and Social Sciences.
- Elena Bardasi & Shwetlena Sabarwal & Katherine Terrell, 2011. "How do female entrepreneurs perform? Evidence from three developing regions," Small Business Economics, Springer, vol. 37(4), pages 417-441, November.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Kris Vajs).
If references are entirely missing, you can add them using this form.