TY - JOUR
T1 - A whole new world
T2 - Counterintuitive crowdfunding insights for female founders
AU - Wesemann, Henrik
AU - Wincent, Joakim
N1 - Funding Information:
Funding for this research was provided by the Grants Office of the University of St.Gallen in form of an International Postdoctoral Fellowship.
Publisher Copyright:
© 2021 Elsevier Inc.
Copyright:
Copyright 2021 Elsevier B.V., All rights reserved.
PY - 2021/3/23
Y1 - 2021/3/23
N2 - Female entrepreneurs are subjected to stereotypes that make it difficult to secure funding. Crowdfunding challenges many of the causes of this discrimination but we know little about if and how it changes optimal funding strategies for female entrepreneurs. Using a sample of 3191 crowdfunding campaigns by female entrepreneurs, we draw from signaling theory to develop and test a series of counterintuitive conjectures for female crowdfunding success. Our results contradict advice that may be derived from traditional entrepreneurial finance: women in crowdfunding should use their gender as advertising, use more female-centric language, avoid self-promotion, start businesses in male-dominated sectors, and ask for more money. These findings highlight new theoretical mechanisms in crowdfunding and develop recommendations for female entrepreneurs who want to raise funds.
AB - Female entrepreneurs are subjected to stereotypes that make it difficult to secure funding. Crowdfunding challenges many of the causes of this discrimination but we know little about if and how it changes optimal funding strategies for female entrepreneurs. Using a sample of 3191 crowdfunding campaigns by female entrepreneurs, we draw from signaling theory to develop and test a series of counterintuitive conjectures for female crowdfunding success. Our results contradict advice that may be derived from traditional entrepreneurial finance: women in crowdfunding should use their gender as advertising, use more female-centric language, avoid self-promotion, start businesses in male-dominated sectors, and ask for more money. These findings highlight new theoretical mechanisms in crowdfunding and develop recommendations for female entrepreneurs who want to raise funds.
KW - 512 Business and Management
KW - crowdfunding
KW - female entrepreneurship
KW - gender
KW - signaling theory
UR - http://www.scopus.com/inward/record.url?scp=85102862691&partnerID=8YFLogxK
UR - https://www.mendeley.com/catalogue/40a478fe-094e-39bf-b911-e57f1c17fa36/
U2 - 10.1016/j.jbvi.2021.e00235
DO - 10.1016/j.jbvi.2021.e00235
M3 - Article
AN - SCOPUS:85102862691
SN - 2352-6734
VL - 15
JO - Journal of Business Venturing Insights
JF - Journal of Business Venturing Insights
M1 - e00235
ER -