Female Entrepreneurs and Equity Crowdfunding in the US: Receiving Less When Asking for More

10 Journal of Business Venturing Insights (October 2018).

Duquesne University School of Law Research Paper No. 2018-20

24 Pages Posted: 23 Oct 2018

See all articles by Seth Oranburg

Seth Oranburg

Duquesne University - School of Law

Mark Geiger

Duquesne University - Palumbo Donahue School of Business

Date Written: October 9, 2018

Abstract

In this paper, we explore the relationship between gender and funding raised through equity crowdfunding. Using data collected from the population of US equity crowdfunding campaigns, we find that campaigns receive significantly less funding when the primary signatory is female. Furthermore, we explore interactions between gender and a campaign's funding target. The results suggest that campaigns raise significantly less funding, as the target amount increases, when the primary signatory is female. These results are the first to suggest a relationship between gender and funding among the population of US equity crowdfunding campaigns. Implications and future directions are discussed.

Keywords: gender, crowdfunding, equity crowdfunding, homophily, startups, entrepreneurship, corporate finance

Suggested Citation

Oranburg, Seth and Geiger, Mark, Female Entrepreneurs and Equity Crowdfunding in the US: Receiving Less When Asking for More (October 9, 2018). 10 Journal of Business Venturing Insights (October 2018).; Duquesne University School of Law Research Paper No. 2018-20. Available at SSRN: https://ssrn.com/abstract=3263521

Seth Oranburg (Contact Author)

Duquesne University - School of Law ( email )

600 Forbes Avenue
Pittsburgh, PA 15282
United States

Mark Geiger

Duquesne University - Palumbo Donahue School of Business ( email )

600 Forbes Ave.
Pittsburgh, PA 15282
United States

Register to save articles to
your library

Register

Paper statistics

Downloads
33
Abstract Views
172
PlumX Metrics