Equity Crowdfunding Success for Female Entrepreneurs: French Evidence

Guillaume Andrieu, Benjamin Le Pendeven () and Gaël Leboeuf ()
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Guillaume Andrieu: Groupe Sup de Co Montpellier (GSCM) - Montpellier Business School
Benjamin Le Pendeven: Audencia Recherche - Audencia Business School
Gaël Leboeuf: COACTIS - COnception de l'ACTIon en Situation - UL2 - Université Lumière - Lyon 2 - UJM - Université Jean Monnet - Saint-Étienne

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Abstract: A large body of literature documents the significant difficulties experienced by female entrepreneurs in obtaining early-stage funding from investors. We investigate this issue in the emerging equity crowdfunding (ECF) context. Our results, based on data from four French ECF platforms, confirm that the feminisation of top management significantly reduces the likelihood of funding, suggesting that crowdfunding does not alleviate the difficulties that women face in raising funds to create startups.

Date: 2021-04-09
New Economics Papers: this item is included in nep-eur and nep-pay
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Published in Economics Bulletin, 2021, 41 (2)

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