Financing and Performance of Female-Owned Firms in Middle Eastern and African Economies

Instituto Complutense de Analisis Economico, working paper, February 2017

29 Pages Posted: 30 Jan 2017

See all articles by Mina Baliamoune-Lutz

Mina Baliamoune-Lutz

University of North Florida ; Economic Research Forum

Stefan Lutz

Frankfurt University of Applied Sciences; Universidad Complutense de Madrid

Date Written: January 30, 2017

Abstract

Empirical evidence suggests that lack of access to financing is a major constraint to performance by female-owned firms in most countries. Firm performance, financing structure, and constraints have been well explored for firms in developed economies but this is not the case for firms in developing economies, especially in Africa and the Middle-East. Largely due to lack of data availability, existing literature on African firms has presented some survey-based evidence on firm performance and financing structures while detailed financial evidence is lacking. This paper aims at filling this research gap. We identify female-owned firms and examine the impact of ownership structure on financing and firm performance. We use cross-sectional financial data covering 25,500 companies in the Middle East and Africa for the years 2006 to 2014. Our results reveal a clear, but perhaps surprising, gender-specific pattern.

Keywords: gender, ownership, firm profitability, financing structure, MENA, Africa, FDI, globalization

JEL Classification: F20, J16, L22, M10

Suggested Citation

Baliamoune-Lutz, Mina and Lutz, Stefan, Financing and Performance of Female-Owned Firms in Middle Eastern and African Economies (January 30, 2017). Instituto Complutense de Analisis Economico, working paper, February 2017. Available at SSRN: https://ssrn.com/abstract=2907977 or http://dx.doi.org/10.2139/ssrn.2907977

Mina Baliamoune-Lutz

University of North Florida ( email )

1 UNF Drive
Jacksonville, FL 32224-2645
United States

HOME PAGE: http://www.unf.edu/

Economic Research Forum ( email )

21 Al-Sad Al-Aaly Street
Dokki, Giza
Cairo
Egypt

HOME PAGE: http://erf.org.eg/

Stefan Lutz (Contact Author)

Frankfurt University of Applied Sciences ( email )

Nibelungenplatz 1
Frankfurt / Main, 60318
Germany

Universidad Complutense de Madrid

Carretera de Humera s/n
Madrid, Madrid 28223
Spain

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