And the children shall lead: Gender diversity and performance in venture capital
| Autor: | Paul A. Gompers, Sophie Q. Wang |
|---|---|
| Rok vydání: | 2021 |
| Předmět: |
040101 forestry
Rate of return Economics and Econometrics Labour economics Entrepreneurship 050208 finance Social venture capital Gender diversity Strategy and Management media_common.quotation_subject 05 social sciences Instrumental variable 04 agricultural and veterinary sciences Venture capital Ask price Accounting 0502 economics and business Economics 0401 agriculture forestry and fisheries human activities Finance Diversity (politics) media_common |
| Zdroj: | Journal of Financial Economics. 142:1-22 |
| ISSN: | 0304-405X |
| Popis: | 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. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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