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Woman’s entrepreneurship – female participation in loss-making SMEs

Author

Listed:
  • Tatjana Janovac

    (University Business Academy, Serbia, Faculty of Applied Management, Economics and Finance, Jevrejska 24, Belgrade, Serbia)

  • Verica Jovanoviæ

    (College of Economics and Administration, Imotska 1, Belgrade, Serbia)

  • Pavle Radanov

    (University Business Academy, Serbia, Faculty of Applied Management, Economics and Finance, Jevrejska 24, Belgrade, Serbia)

  • Saša Virijeviæ Jovanoviæ

    (University Business Academy, Serbia, Faculty of Applied Management, Economics and Finance, Jevrejska 24, Belgrade, Serbia)

Abstract

The paper explores the ownership structure of small and medium-sized enterprises (SMEs), which fell into a debt crisis due to business failures, in order to indicate the differences between male and female entrepreneurs. We conducted the empirical research on a sample of 186 small and medium-sized loss-making enterprises in the Republic of Serbia. The results obtained by descriptive statistical analysis of the observed sampleshow that the participation of female companies among loss-making enterprises is considerably low. The ratio of companies owned by women and those owned by men was 18.8%: 81.2%. Furthermore, we have recorded a significant difference in the amounts of debt, indicating that female companies have significantly lower debt rates when compared to those owned by men. The findings of this research can be applied as a strategic framework for policymakers to encourage female entrepreneurship.

Suggested Citation

  • Tatjana Janovac & Verica Jovanoviæ & Pavle Radanov & Saša Virijeviæ Jovanoviæ, 2021. "Woman’s entrepreneurship – female participation in loss-making SMEs," Zbornik radova Ekonomskog fakulteta u Rijeci/Proceedings of Rijeka Faculty of Economics, University of Rijeka, Faculty of Economics and Business, vol. 39(1), pages 39-58.
    • Handle: RePEc:rfe:zbefri:v:39:y:2021:i:1:p:39-58
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    References listed on IDEAS

    as
    1. Du Rietz, Anita & Henrekson, Magnus, 2000. "Testing the Female Underperformance Hypothesis," Small Business Economics, Springer, vol. 14(1), pages 1-10, February.
    2. Kumar, Ruchira, 2017. "Targeted SME Financing and Employment Effects : What Do We Know and What Can We Do Differently?," Jobs Group Papers, Notes, and Guides 27547256, The World Bank.
    3. Gabriela Calderon & Jesse M. Cunha & Giacomo De Giorgi, 2020. "Business Literacy and Development: Evidence from a Randomized Controlled Trial in Rural Mexico," Economic Development and Cultural Change, University of Chicago Press, vol. 68(2), pages 507-540.
    4. Meghana Ayyagari & Asli Demirguc-Kunt & Vojislav Maksimovic, 2014. "Who creates jobs in developing countries?," Small Business Economics, Springer, vol. 43(1), pages 75-99, June.
    5. Rizwan Ullah Khan & Yashar Salamzadeh & Syed Zulfiqar Ali Shah & Mazhar Hussain, 2021. "Factors affecting women entrepreneurs’ success: a study of small- and medium-sized enterprises in emerging market of Pakistan," Journal of Innovation and Entrepreneurship, Springer, vol. 10(1), pages 1-21, December.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    SMEs; owners; female entrepreneurs; loss-making enterprises; capital;
    All these keywords.

    JEL classification:

    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • J16 - Labor and Demographic Economics - - Demographic Economics - - - Economics of Gender; Non-labor Discrimination
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship

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