ABSTRACT

The availability of resources is paramount for innovation in women-led firms. We define a women-led firm where a chief executive officer (CEO) is a woman. We examine how nature – a pervasive and arbitrary type of institutional environment as well as access to resources is associated with different propensity to innovate between women and men-led firms.

Using micro-level cross-country data of 12,412 firms and a reduced sample of 5,052 firms during 2008–2015 and across 75 economies, we find that the differences in risk perception between women and men-led firms ae not associated with innovation propensity. Instead, the availability of resources proxied by a country's fiscal freedom and availability of internal resources lead to an increase in innovation in women-led firms. The relationship is non-linear and increases with the availability of finance. This work has important policy implications for the role of institutions to spur innovation in women-led firms.

摘要

资源的可用性对于女性领导的公司的创新至关重要。我们定义了一个女性领导的公司，其中首席执行官 (CEO) 是女性。我们研究了自然——一种普遍和任意类型的制度环境以及对资源的获取，如何与女性和男性领导的公司之间的不同创新倾向相关联。

使用 2008-2015 年间 75 个经济体的 12,412 家公司的微观跨国数据和 5,052 家公司的缩减样本，我们发现女性和男性领导的公司之间的风险认知差异与创新倾向无关。相反，一个国家的财政自由和内部资源的可用性所代表的资源可用性导致女性领导的公司的创新增加。这种关系是非线性的，并且随着资金的可用性而增加。这项工作对机构在促进女性主导企业创新方面的作用具有重要的政策意义。