Gender differences in the contribution patterns of equity-crowdfunding investors
利用瑞典股权众筹平台数据，发现女性投资者更少投资年轻、高科技和高股权比例的企业，且更倾向于投资男性投资者比例高的项目，表明女性风险规避程度更高。
This paper is an exploratory attempt to understand gender-related differences in the behavior of investors in firms seeking equity financing. Using data from the Swedish equity crowdfunding platform FundedByMe, we find that female investors are less likely to invest in the equity of firms that are younger and high tech and have a higher percentage of equity offerings. This pattern seems consistent with a greater risk aversion in female versus male investors. Furthermore, female investors are more likely to invest in projects in which the proportion of male investors is higher.