Informal Personal Financing of Entrepreneurs: Gender Characteristics

The Aim of the article is in the assess indicators characterizing informal personal financing of entrepreneurs in different countries. Initial information used in our research is the data obtained in the course of the survey habitats of various countries (Global Entrepreneurship Monitor). In the course of the study we consider the indicators characterizing investment activity of men and women on three options including financing of the entrepreneurs who are their relatives, colleagues, friends and acquaintances. The assessment of the levels of nine indicators used economic-mathematical modeling based on density functions of normal distribution. The use of these functions allows defining medium values and ranges changes in considered indexes typical for most countries. In addition, the survey identifies the national economies which are characterized by the maximum and minimum data nine indicators. The study demonstrates that there is a gender gap in the data for various states. The scientific novelty and originality of this research are as follows: the indicators of external investment in firms created by entrepreneurs in different countries have been estimated; the assessment of nine indicators characterizing external investments for start-up entrepreneurs has been modeled; presents a high difference in the values of considered indexes in different countries has been shown; countries with maximum and minimum values of each indicator. It has been proven: proportion in a number of involved men in informal financing of created SMEs established by their relatives in most countries is lower than the same indicator of women, and men proportion involved in informal financing of the new SMEs created by their colleagues, as well as friends and neighbors in most countries is higher than the same indicator of women. Further research can be aimed at detailing the structure of informal financing recipients among entrepreneurs.