Women on the edge of a breakthrough? A stereotype threat theory of women’s angel investing
基于英国调查数据，研究女性与男性天使投资者在特征上的系统差异，提出刻板印象威胁理论解释女性参与度低的原因，并讨论女性专属网络和培训的作用。
The extent to which women participate in the angel investment market has become an important topic of research and policy interest. Based on UK survey data, we demonstrate that there are systematic but not unequivocal differences between women and men investors on a number of key investor and investment characteristics. We also report indicative evidence that members of women-only networks do differ from women who join mixed networks. Drawing on these results, we develop a stereotype threat theory perspective on women’s angel investing which highlights the cues, consequences, outcomes and responses to stereotype threat. Specifically, we theorise that stereotype threat influences women’s widely reported lower participation in the angel investment market. In addition, stereotype threat theory helps explain both women’s overall active involvement in the angel investment market and their participation in women-only investor networks. We conclude that there is a case for women-only angel networks and training programmes to mitigate the performance and participation consequences of stereotype threat.