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Women entrepreneurs’ progress in the venturing process: the impact of risk aversion and culture

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  • Daniela Gimenez-Jimenez

    (Technische Universität München)

  • Linda F. Edelman

    (Bentley University)

  • Alexandra Dawson

    (Concordia University)

  • Andrea Calabrò

    (IPAG Business School)

Abstract

We explore the gendered impact of risk aversion and country-level culture on nascent student entrepreneurs’ progress in the venturing process. Combining country-level cultural normative variables from the 2004 Global Leadership and Organizational Behavior Effectiveness (GLOBE) survey with data from the 2013/2014 Global University Entrepreneurial Student Spirit Study (GUESSS), our sample consists of 1552 nascent student entrepreneurs from 11 countries. We start with the assumption that perceptions of risk-taking behaviors are not gendered. We then split our sample, finding that, for women, perceptions of risk-taking behaviors are associated with less progress in the venturing process; however, starting a new venture in a socially supportive culture moderates that relationship. For men, neither risk-taking behavior nor country cultural variables are related to their progress in the venturing process. Our study highlights both the importance of country-level contextual variables in entrepreneurship and the need to employ a gendered perspective when studying nascent entrepreneurship.

Suggested Citation

  • Daniela Gimenez-Jimenez & Linda F. Edelman & Alexandra Dawson & Andrea Calabrò, 2022. "Women entrepreneurs’ progress in the venturing process: the impact of risk aversion and culture," Small Business Economics, Springer, vol. 58(2), pages 1091-1111, February.
    • Handle: RePEc:kap:sbusec:v:58:y:2022:i:2:d:10.1007_s11187-020-00435-8
    DOI: 10.1007/s11187-020-00435-8
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