Entrepreneurship and gender: differential access to finance and divergent business value

Robert M. Sauer, Katharina Wiesemeyer

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In this paper we examine differences in access to finance and business value by gender. Using recent data from the German Socio-Economic Panel, instrumented linear probability models show that an increase in personal wealth substantially affects the probability of being a business owner only among females. This is indicative of differential access to finance by gender. Among business owners, fixed-effects regressions reveal that obtaining a bank loan increases mean total business value more for females than for males. Thus, possession of a bank loan appears to be a critical factor in explaining the business value gender gap.
Original languageEnglish
Pages (from-to)584-596
Number of pages13
JournalOxford Review of Economic Policy
Issue number4
Publication statusPublished - 19 Sept 2018


  • Entrepreneurship
  • New Firms
  • Startups
  • Firm Performance
  • Size, Diversification, and Scope
  • Labor Demand

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