Venture Capital's "Me Too" Moment / Sophie Calder-Wang, Paul Gompers, Patrick Sweeney.

Format:

Book

Author/Creator:

Calder-Wang, Sophie.

Contributor:

National Bureau of Economic Research.

Gompers, Paul.

Sweeney, Patrick.

Series:

Working Paper Series (National Bureau of Economic Research) no. w28679.

NBER working paper series no. w28679

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 2021.

Summary:

In this paper, we document the historically low rate of hiring of women in the venture capital sector. We find that the high-profile Ellen Pao v. Kleiner Perkins gender discrimination trial had dramatic treatment effects. In difference-in-differences regressions, we find that the rate of hiring of female venture capitalists increased substantially after the trial and that the hiring was more pronounced in states that were more receptive to the exposure. We use the state-level mandated maternity benefits as an instrument for the receptivity to the treatment effects of the Pao Trial. We also show that the fraction of founders who are female increases after the Pao Trial, but that the increase is driven entirely by the hiring of female venture capitalists. There is no increase in the propensity of male venture capitalists to invest in female founders in the post-Pao Trial period.

Notes:

Print version record

April 2021.