Girls Just Wanna Have Funds? The effect of women-friendly legislation on female-led firms’ access to credit

IF 0.9 3区社会学 Q3 ECONOMICS

International Review of Law and Economics Pub Date : 2022-12-01 DOI:10.1016/j.irle.2022.106101

Jérémie Bertrand , Caroline Perrin

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Abstract

Does a women-friendly legal environment help women overcome discrimination in credit markets? By examining antidiscrimination laws and their implications for women-led businesses' access to credit in 124 countries, the current study differentiates an effect on discouragement (i.e., not asking for credit when they need it, demand side) and an effect on the probability that they obtain credit (supply side). Legal protections are associated with lower discouragement for women-led firms, but they do not support the attainment of more credit. We demonstrate that enforcement efforts dramatically amplify the effect of women-friendly laws on self-restrictions in terms of credit and enable women-led firms to access more credit. Women are sensitive to the legal environment in which they operate, while banks need strong incentives to change their behavior. This effect is notable with regard to rational discouragement and prevails among smaller firms and in high-income countries. These results are robust to several tests.

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女孩只是想要资金?对妇女友好的立法对妇女领导的公司获得信贷的影响

一个对妇女友好的法律环境是否有助于妇女克服信贷市场上的歧视?通过审查124个国家的反歧视法律及其对妇女领导的企业获得信贷的影响，目前的研究区分了对阻碍的影响(即，当她们需要信贷时不要求信贷，需求方)和对她们获得信贷的可能性的影响(供应方)。法律保护与女性领导的公司受挫感降低有关，但它们并不支持获得更多的信贷。我们证明，执法工作极大地扩大了有利于妇女的法律对信贷自我限制的影响，并使妇女领导的公司能够获得更多的信贷。女性对她们所处的法律环境很敏感，而银行需要强有力的激励措施来改变她们的行为。这种影响在理性挫折方面是显著的，在小公司和高收入国家普遍存在。这些结果经得起几次检验。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

International Review of Law and Economics Multiple-

CiteScore

2.60

自引率

18.20%

发文量

审稿时长

48 days

期刊介绍： The International Review of Law and Economics provides a forum for interdisciplinary research at the interface of law and economics. IRLE is international in scope and audience and particularly welcomes both theoretical and empirical papers on comparative law and economics, globalization and legal harmonization, and the endogenous emergence of legal institutions, in addition to more traditional legal topics.