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Taking care of business: the impact of culture and gender on entrepreneurs’ blended value creation goals

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Abstract

We examine entrepreneurs’ economic, social, and environmental goals for value creation for their new ventures. Drawing on ethics of care and theories of societal post-materialism, we develop a set of hypotheses predicting patterns of value creation across gender and countries. Using a sample of 15,141 entrepreneurs in 48 countries from the Global Entrepreneurship Monitor, we find that gender and cultural values of post-materialism significantly impact the kinds of value creation emphasized by entrepreneurs. Specifically, women entrepreneurs are more likely than men to emphasize social value goals over economic value creation goals. Individuals who start ventures in strong post-materialist societies are more likely to have social and environmental value creation goals and less likely to have economic value creation goals. Furthermore, as levels of post-materialism rise among societies, the relationship between value creation goals and gender changes, intensifying both the negative effect of being female on economic value goals and the positive effect on social value goals. In other words, post-materialism further widens the gender gap in value creation goals.

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Notes

  1. Countries: Algeria, Argentina, Belgium, Bosnia and Herzegovina, Brazil, Chile, China, Colombia, Croatia, Denmark, Dominican Republic, Finland, France, Germany, Greece, Guatemala, Hong Kong, Hungary, Iceland, Iran, Israel, Italy, Japan, Jordan, Latvia, Lebanon, Malaysia, Morocco, Netherlands, Norway, Peru, Romania, Russia, Saudi Arabia, Serbia, Slovenia, South Africa, South Korea, Spain, Switzerland, Tunisia, Uganda, UK, US, Uruguay, Venezuela, West Bank and Gaza Strip, and Yemen.

  2. We apply Rubin’s (1987) multiple imputation procedure to estimate the missing data values for the controls: household income education, industry, and innovativeness using the logistic regression method, and linear regression method for age (using predictors: GDP, gender, education, age, household income, and industry, and innovativeness). The percent of cases imputed from the covariates are all under one-third: household income (21 %), education (2 %), industry (12 %), and innovation (27 %). After five versions of the data set were generated by the multiple imputation procedure, we analyzed each version of imputed data. The goal is to estimate a model separately in each dataset, and identify the best-fitting model.

  3. GEM methods and sampling frame are reported in Reynolds et al. (2005). Nascent entrepreneurs are actively involved in the creation or development of a venture in which they will have ownership do not yet have positive cash flows. Baby business owners have ownership share in a new venture that has positive cash flow and is less than 42 months old. Established business owners’ ventures are operational and older than 42 months.

  4. For Tunisia, Hong Kong, Lebanon, Yemen, and West Bank and Gaza, data was not available for Y002 in waves 1–5, so we used wave 6 responses to estimate societal averages (Wave 6 was administered from 2010 to 2014).

  5. We pool all available waves of WVS/EVS to ensure the largest proportion of coverage on the post-materialism index since not every country in our sample participated in every wave of the WVS/EVS. This approach is acceptable and common in prior research using post-materialism (e.g., Abramson et al. 1997) since work by Inglehart and Baker (2000) finds cultural values are stable constructs over time.

  6. These countries are: United States, Netherlands, Belgium, France, Spain, Italy, Switzerland, United Kingdom, Denmark, Norway, Germany, Iceland, Finland, and Hong Kong.

  7. These countries are Argentina, Morocco, Algeria, Uganda, Guatemala, Jordan, Yemen, and West Bank and Gaza Strip.

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Authors and Affiliations

  1. Center for Entrepreneurship, College of Business, University of South Florida, 4202 E. Fowler Ave., Tampa, FL, 33620, USA

    Diana M. Hechavarría

  2. Management Department, American University, Washington, DC, 20008, USA

    Siri A. Terjesen

  3. Norwegian School of Economics, Bergen, Norway

    Siri A. Terjesen

  4. College of Business and Behavioral Sciences, Clemson University, 139 Sirrine Hall, Clemson, SC, 29634, USA

    Amy E. Ingram

  5. Managerial Studies, University of Illinois at Chicago, MC 243, University Hall 2211, 601 South Morgan Street, Chicago, IL, 60607, USA

    Maija Renko

  6. IE Business School, Maria de Molina 11, 28006, Madrid, Spain

    Rachida Justo

  7. Center for Women’s Entrepreneurial Leadership, Babson College, Wellesley, MA, USA

    Amanda Elam

  8. Management, Innovation, and Entrepreneurship Department, Poole College of Management, North Carolina State University, Raleigh, NC, 27695, USA

    Amanda Elam

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  1. Diana M. Hechavarría
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  2. Siri A. Terjesen
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  3. Amy E. Ingram
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  4. Maija Renko
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  5. Rachida Justo
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  6. Amanda Elam
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Correspondence to Siri A. Terjesen.

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Hechavarría, D.M., Terjesen, S.A., Ingram, A.E. et al. Taking care of business: the impact of culture and gender on entrepreneurs’ blended value creation goals. Small Bus Econ 48, 225–257 (2017). https://doi.org/10.1007/s11187-016-9747-4

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