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And the children shall lead: Gender diversity and performance in venture capital
Journal of Financial Economics ( IF 8.238 ) Pub Date : 2021-06-23 , DOI: 10.1016/j.jfineco.2020.06.026
Sophie Calder-Wang , Paul A. Gompers

Given overall lack of gender diversity in the venture capital and entrepreneurship industry shown in Calder-Wang and Gompers (2017) we ask: What promotes greater gender diversity in hiring? Does diversity lead to better firm performance and higher investment returns? In this paper, using a unique dataset of the gender of venture capital partners’ children, we find strong evidence that when partners have more daughters, the propensity to hire female partners increases. Moreover, our instrumental variable results suggest that increased gender diversity improves deal and fund performance. Lastly, the effects are primarily driven by the gender of senior partners’ children.



中文翻译:

孩子们将领导:风险投资中的性别多样性和绩效

鉴于 Calder-Wang 和 Gompers(2017 年)所显示的风险投资和创业行业总体缺乏性别多样性,我们问:什么促进了招聘中的更大性别多样性?多元化是否会带来更好的公司业绩和更高的投资回报?在本文中,使用风险投资合伙人子女性别的独特数据集,我们发现强有力的证据表明,当合伙人有更多女儿时,雇用女性合伙人的倾向会增加。此外,我们的工具变量结果表明,增加性别多样性可以改善交易和基金业绩。最后,影响主要是由高级合伙人子女的性别驱动的。

更新日期:2021-08-23
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