Gender Gaps in Venture Capital Performance
We explore gender differences in performance in a comprehensive sample of venture capital investments in the United States. Investments by female venture capital investors have significantly lower success rates than investments by their male colleagues when controlling for personal characteristics,...
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| Veröffentlicht in: | Journal of financial and quantitative analysis 2022-03, Vol.57 (2), p.485-513 |
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| container_end_page | 513 |
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| container_issue | 2 |
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| container_title | Journal of financial and quantitative analysis |
| container_volume | 57 |
| creator | Gompers, Paul A. Mukharlyamov, Vladimir Weisburst, Emily Xuan, Yuhai |
| description | We explore gender differences in performance in a comprehensive sample of venture capital investments in the United States. Investments by female venture capital investors have significantly lower success rates than investments by their male colleagues when controlling for personal characteristics, including employment and educational history, and portfolio companies’ characteristics. The gender differences in investment outcomes are not due to female investors being less skilled but, rather, are largely attributable to female investors receiving less benefit from the track records of their colleagues. Performance differences disappear in older, larger firms and firms with other female investors. This supports the view that formal feedback mechanisms and hierarchies are potentially useful in ameliorating the female performance gap. |
| doi_str_mv | 10.1017/S0022109020000988 |
| format | Article |
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Investments by female venture capital investors have significantly lower success rates than investments by their male colleagues when controlling for personal characteristics, including employment and educational history, and portfolio companies’ characteristics. The gender differences in investment outcomes are not due to female investors being less skilled but, rather, are largely attributable to female investors receiving less benefit from the track records of their colleagues. Performance differences disappear in older, larger firms and firms with other female investors. 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This supports the view that formal feedback mechanisms and hierarchies are potentially useful in ameliorating the female performance gap.</description><subject>Age differences</subject><subject>Capital investments</subject><subject>Colleagues</subject><subject>Employment</subject><subject>Females</subject><subject>Gender differences</subject><subject>Geschlechterunterschiede</subject><subject>Investments</subject><subject>Personal characteristics</subject><subject>Risikokapital</subject><subject>Unternehmenserfolg</subject><subject>USA</subject><subject>Venture capital</subject><subject>Weibliche Führungskräfte</subject><subject>Women</subject><issn>0022-1090</issn><issn>1756-6916</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2022</creationdate><recordtype>article</recordtype><recordid>eNp1kM1Lw0AQxRdRsFb_AG8Bb0J0ZvMx2aMUTYWCgh_XsNmdSEqbxN304H_vhhZ6EOcyh_m994YnxDXCHQLS_RuAlAgKJIRRRXEiZkhZHucK81Mxm87xdD8XF96vJ0hKmInbkjvLLir14KO2iz65G3eOo4Ue2lFvold2Te-2ujN8Kc4avfF8ddhz8fH0-L5YxquX8nnxsIpNCjTGqkZpU6OI2IDNLNq0SWtZU2asaiyBDV-gYkyxkTrDRNUF5axJEyWFkslc3Ox9B9d_79iP1brfuS5EVjKXpJQEygKFe8q43nvHTTW4dqvdT4VQTZVUfyoJmmivYdN3rT8qqCjSJFhTQJKDrd7WrrVffEz_3_gXTcNqew</recordid><startdate>20220301</startdate><enddate>20220301</enddate><creator>Gompers, Paul A.</creator><creator>Mukharlyamov, Vladimir</creator><creator>Weisburst, Emily</creator><creator>Xuan, Yuhai</creator><general>Cambridge University Press</general><scope>OQ6</scope><scope>AAYXX</scope><scope>CITATION</scope><scope>8BJ</scope><scope>FQK</scope><scope>JBE</scope><orcidid>https://orcid.org/0000-0003-3018-7614</orcidid></search><sort><creationdate>20220301</creationdate><title>Gender Gaps in Venture Capital Performance</title><author>Gompers, Paul A. ; Mukharlyamov, Vladimir ; Weisburst, Emily ; Xuan, Yuhai</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c407t-9b12d4c977ec0d5d1d4f4b2b75cd9fd70d09019e141f2a5139b876ea7a7738923</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2022</creationdate><topic>Age differences</topic><topic>Capital investments</topic><topic>Colleagues</topic><topic>Employment</topic><topic>Females</topic><topic>Gender differences</topic><topic>Geschlechterunterschiede</topic><topic>Investments</topic><topic>Personal characteristics</topic><topic>Risikokapital</topic><topic>Unternehmenserfolg</topic><topic>USA</topic><topic>Venture capital</topic><topic>Weibliche Führungskräfte</topic><topic>Women</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>Gompers, Paul A.</creatorcontrib><creatorcontrib>Mukharlyamov, Vladimir</creatorcontrib><creatorcontrib>Weisburst, Emily</creatorcontrib><creatorcontrib>Xuan, Yuhai</creatorcontrib><collection>ECONIS</collection><collection>CrossRef</collection><collection>International Bibliography of the Social Sciences (IBSS)</collection><collection>International Bibliography of the Social Sciences</collection><collection>International Bibliography of the Social Sciences</collection><jtitle>Journal of financial and quantitative analysis</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>Gompers, Paul A.</au><au>Mukharlyamov, Vladimir</au><au>Weisburst, Emily</au><au>Xuan, Yuhai</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>Gender Gaps in Venture Capital Performance</atitle><jtitle>Journal of financial and quantitative analysis</jtitle><addtitle>J. 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| ispartof | Journal of financial and quantitative analysis, 2022-03, Vol.57 (2), p.485-513 |
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| language | eng |
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| source | Cambridge Journals Online; Business Source Complete (EBSCO) |
| subjects | Age differences Capital investments Colleagues Employment Females Gender differences Geschlechterunterschiede Investments Personal characteristics Risikokapital Unternehmenserfolg USA Venture capital Weibliche Führungskräfte Women |
| title | Gender Gaps in Venture Capital Performance |
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