Entrepreneurship Financing through Local Equity Market and Access to Loans on Gender Perspective: Regression Analysis of Country Effects
1-Faculty of Tourism, Mersin University – Turkey
The low participation of in entrepreneurship and the low level of women entrepreneurship is often linked by the financial incentives. Thus, the assumptions in this study suggest that entrepreneurship facilities could easily increase in on developed financial environment. This study argues that the organizational environment of an entrepreneurs highly impacts the entrepreneurship level of individuals. To begin with, the study tries to explore the effects of gender on entrepreneurship and then effects of financial environment on both the level of entrepreneurship and women entrepreneurship.
The study identifies which factors increase entrepreneurial motivation. The study draws a conceptual framework related entrepreneurship regarding both gender and two financial variables: financing through local equity market, ease of access to loans. Based on this framework, a large sample of cross-sectional time series data constructed by integrating several databases was tested. The multilevel logistic regression estimation techniques with country random intercepts were used. After controlling the industry effects, year effects, several individual and country level variables effects on the measure of entrepreneurial activity; the study concluded that entrepreneurial activity and the women entrepreneurship improve by the factors: financing through local equity market, ease of access to loans.
The results of the analyses are almost completely consistent with the conceptual framework of this study. In general, the findings emphasize the importance of financial environment on entrepreneurship and women’s participation in entrepreneurial activities.
Key Words: Entrepreneurship, Women Entrepreneurship, Financing through Local Equity Market, Ease of Access to Loans, Financial Environment.