Dutta, N., & Mallick, S. (2022). Gender and Access to Finance: Perceived Constraints of Majority‐Female‐owned Indian Firms. British Journal of Management.

Do firms with majority female ownership differ from firms with minorityfemale ownership or male‐owned firms in terms of perceived constraints onaccessing finance? Using World Bank Enterprise Survey (WBES) data for Indianfirms, our results show that there is no significant difference in male‐ andfemale‐owned firms in terms of their perceptions about accessing finance.Yet, this is true only for firms with minority female ownership (less than50%). Firms with majority female ownership do perceive more constraints onaccessing finance relative to firms with minority female ownership or zerofemale ownership. Based on demand‐ and supply‐side factors relating tobusiness inexperience, weaker networking, and lender perceptions, assuggested by signalling and gender congruity theories, the results imply thatmajority‐female‐owned firms need to negotiate more for financing access, asthey need to display positive signals for those investors who might possessstereotypical and gendered beliefs about the abilities of entrepreneurs. Wealso find that in relation to funding sources being one’s own retainedearnings or money from family and friends or advances from clients,majority‐female‐owned firms do not perceive financial barriers differentlyfrom male‐owned firms or firms with minority female ownership.