STILL A MAN’S WORLD? SECOND GENERATION GENDER BIAS IN EXTERNAL EQUITY TERM SHEET NEGOTIATIONS
Vol. Volume 21, Number 3 September/2016
ETHNé SWARTZ, FRANCES M. AMATUCCI & SUSAN COLEMAN
Women increasingly start and lead growth ventures yet receive a small proportion of external equity funding. Term sheet negotiation is a pivotal moment for obtaining growth capital. We employ a multi-method, mixed mode research design to explore strategies of women entrepreneurs who have negotiated term sheets and discuss our quantitative findings. Results indicate that women entrepreneurs in our sample worked hard to achieve optimal outcomes yet come up short due to exogenous and endogenous factors linked to second generation gender bias in the negotiation process. Propositions for future research are generated given the results of this exploratory research.
Gender, term sheet negotiation, private equity, external equity, multi-method, mixed mode research design