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Guiso, L., Rustichini, A. (2011). What drives women out of entrepreneurship? The joint role of testosterone and culture

Exploiting variation across communities in indices correlated with women emancipation, we show that in regions where women are less emancipated their average 2D4D Digit Ratio is lower than that of men compared to regions with higher indices, a nding is consistent with the existence of gender related obstacles into entrepreneurship. This nding can explain why: a) fewer women than men are entrepreneurs; b) the proportion of women among entrepreneurs is higher in countries with higher women emancipation; c) women entrepreneurs show more masculine traits. Once women enter  entrepreneurship, they are equally able than man.


Guiso, Luigi

Prof. Guiso joined the Institute in January 2007 from Università di Roma Tor Vergata. He has been visiting professor at the University of Chicago, Graduate School of Business. He is a Fellow of the Centre for Economic Policy Research, London and Director of the CEPR Finance Programme. He...

Rustichini, Aldo

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