Venture Capital, Gender, and Deregulation in IT Startup Performance

• 成果类型: Article
• 署名作者: Lee, Ho Cheung Brian; Wang, Yen-Yao; Qi, Kangkang; Sambamurthy, Vallabh; Evans, Jocelyn D.
• 署名单位: University of Wisconsin System; University of Wisconsin Madison; University of Missouri System; University of Missouri Kansas City
• 刊物名称: JOURNAL OF MANAGEMENT INFORMATION SYSTEMS
• ISSN/ISSBN: 0742-1222; 1557-928X
• DOI: 10.1080/07421222.2025.2602398
• 发表日期: 2026-01-02
• 页码: 109-141
• 关键词: IT startups; venture capital; Female leadership; VC utilization bias; deregulation; INFORMATION-TECHNOLOGY PROFESSION; firm performance; women; entrepreneurship; DISCRIMINATION; COMPETITION; INNOVATION; creation; IMPACT; GROWTH

摘要

Venture capital (VC) plays a key role in enabling information technology (IT) startups, driving economic growth and innovation. However, two defining features in the IT industry-deregulated market dynamics and gender-imbalanced labor structures-change VC effectiveness. The male-dominated ecosystem channels resources toward male entrepreneurs, leaving female-led IT startups less resourced and, in theory, more likely to benefit from VC support. Yet, they face challenges converting VC into internal capacity, such as hiring in male-dominated markets-a dynamic we term VC utilization bias. Deregulation further complicates this relationship: while it can enhance resource flexibility, it also intensifies competition, amplifying disparities. Using multiple datasets and the Telecommunications Act of 1996 as an exogenous shock, we document VC utilization bias and show that deregulation magnifies it. This work contributes to the information systems (IS) literature by examining gender bias at the executive level in the IT industry and how VC support amplifies gender disparity among IT entrepreneurs.