Gender Dynamics in Crowdfunding (Kickstarter): Evidence on Entrepreneurs, Investors, Deals and Taste-Based Discrimination
Gender Dynamics in Crowdfunding (Kickstarter): Evidence on Entrepreneurs, Investors, Deals and Taste-Based Discrimination
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众筹中的性别动态（Kickstarter）：关于企业家、投资者、交易和品味歧视的证据
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发表时间：
2016
期刊：
影响因子：
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通讯作者：
Orly Sade
中科院分区：
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作者：
Hadar Gafni;D. Marom;A. Robb;Orly Sade
在本文中，我们调查是否一种新的形式的风险融资-众筹-减少女性企业家筹集资金的障碍。具体来说，我们调查性别动态和偏见的过程中筹集资金的新项目通过领先的众筹平台- Kickstarter。我们发现，女性占该平台项目负责人的35%，占投资者的44%。平均而言，男子为项目寻求的资本水平明显高于妇女，而且筹集的资金也多于妇女。然而，即使在控制了类别和目标金额之后，妇女在为其项目供资方面的成功率也更高。在男性投资的项目中，只有约23%的项目由女性领导。相反，妇女投资的项目中有40%以上是由妇女领导的。多元分析显示，项目负责人性别与同性别投资人比例之间存在显著正相关。人们提出的问题是，哪些因素可以解释妇女主导的项目主要由妇女供资的事实。为了将基于品味的歧视与统计歧视区分开来，我们对Kickstarter平台的投资者进行了一项调查，发现有证据表明，男性对女性主导的项目的一些较低投资可以归因于基于品味的歧视。
In this paper we investigate whether a new form of venture financing – crowdfunding – reduces the barriers of female entrepreneurs to raise capital. Specifically, we investigate gender dynamics and biases in the process of raising funding to new projects via the leading crowdfunding platform – Kickstarter. We find women made up about 35% of the project leaders and 44% of the investors on the platform. On average, men seek significantly higher levels of capital than women for their projects, and also raise more funds than women. However, women enjoy higher rates of success in funding their projects, even after controlling for category and goal amount. Only about 23% of projects that men invested in had female project leads. Conversely, more than 40% of projects that women invested in had female project leads. Multivariate analysis indicated significant positive correlation between the gender of the project leader and the percentage of the same gender investors. Questions arise around what factors explain the fact that female-led projects are predominantly financed by women. In an attempt to disentangle taste-based discrimination from statistical discrimination we conducted a survey of investors from the Kickstarter platform and find evidence that some of lower investment in female-led projects by men can be attributed to taste-based discrimination.