Africa’s businesswomen – underfunded or underperforming?
利用加纳800多家企业的面板数据，研究发现女性企业主的生产率比男性低11%至19%，但考虑金融约束后性别差距消失；资金充足的女性生产率甚至高于男性，且供应商信贷对女性尤为重要。
Abstract While the recent success of Africa’s ‘Lionesses’ – successful female entrepreneurs – is internationally celebrated, less is known about how liquidity can fuel the success of the ‘Lionesses’ and other businesswomen. Using information from a panel of over 800 male- and female-owned businesses in Ghana (ISSER-IGC survey), we capture a measure of underfunding, in addition to data on supplier credit, equity and other finance sources. Our regressions reveal a female-to-male productivity gap of between − 11 and − 19 per cent, values similar to estimates for other African countries. However, when financial constraints are taken into account, the gender performance gap disappears. Accordingly, female business owners who indicate that funding is not a problem are associated with higher productivity than males, all things equal. In a finding new to the literature, our regressions reveal the importance of supplier credit for Africa’s businesswomen.