Can Lack-of-Fit Penalties Apply to Male Entrepreneurs? Equity Fundraising in Femtech
研究了女性科技行业中男性CEO的股权融资表现，发现男性CEO筹集的资金少于女性CEO，挑战了男性在女性主导行业不受不匹配惩罚的假设。
Persistent evidence of a male advantage in equity fundraising has led entrepreneurship scholars to assume that while women face fit penalties in male-typed industries, men are exempt from penalties in female-typed ones. Yet underlying sociological theory implies that lack-of-fit penalties would apply to both sexes. Analyzing 718 equity deals from 408 ventures in Femtech, we find that male CEOs raise smaller deal amounts than female CEOs. Post hoc analyses and interviews provide interpretive triangulation consistent with two plausible explanatory accounts, embodied task competence and moral legitimacy. This challenges the assumption that men are exempt from fit penalties in female-typed industries.