Economic crisis, women entrepreneurs and bank loans: some empirical evidence from Italy

Figures & data

Table 1. Variables.

Variables	Description
Gender	Man
Muravyev, Talavera and Schaefer (2009)	Woman
Alesina, Lotti and Mistrulli (2013)
Stefani and Vacca (2013)
Cesaroni, Lotti and Mistrulli (2013)
Entrepreneur’s age	Young: no more than 35 years
(Cole and Mehran, 2011)	Adult: more than 35 years
Education	Basic: primary or secondary school
(Coleman, 2002)	Advanced: high school or university
Banking history	Entrepreneurial experience:
(Shaw, Carter and Brierton, 2001)	- New entrepreneur: no more than 5 years experience - Mature: 5 to 10 years experience - Senior: more than 10 years experience
	Firm’s age: - 6 to 10 years - More than 10 years
Industry	Manufacturing
(Cole and Mehran, 2011; Stefani and Vacca, 2013)	Service e trade

Source: Authors’ elaboration.

Table 2. Bank loans application during the crisis.

	Total		Men		Women
	No.	%	No.	%	No.	%
Yes	48	22%	26	24%	22	20%
No	170	78%	82	76%	88	80%
Total	218	100%	108	100%	110	100%

Source: Research results.

Table 3. Reasons for not apply for new bank funding.

	Total		Men		Women
	No.	%	No.	%	No.	%
Little chance of obtaining bank loans	8	4.7%	6	7.3%	2	2.3%
Banking conditions are too onerous	3	1.8%	2	2.4%	1	1.1%
Better not to have new debts	32	18.8%	17	20.7%	15	17.1%
I didn’t need new financing	127	74.7%	57	69.6%	70	79.5%
Total	170	100%	82	100%	88	100%

Source: Research results.

Table 4. Reasons for new bank loans application.

	Total		Men		Women
	No.	%	No.	%	No.	%
New investments	23	47.9%	12	46.1%	11	50%
Cash flow problems	19	39.6%	12	46.1%	7	31.8%
Inventory replenishment	3	6.2%	1	3.8%	2	9.1%
Pay employees	3	6.2%	1	3.8%	2	9.1%
Other	–	–	–	–	–	–
Total	48	100%	26	100%	22	100%

Source: Research results.

Table 5. New bank loans application: banks’ response.

	Total		Men		Women
	No.	%	No.	%	No.	%
I obtained the entire amount	38	79.2%	22	84.6%	16	72.7%
I only got a part of the amount	6	12.5%	2	7.7%	4	18.2%
I didn’t accept bank conditions	3	6.2%	2	7.7%	1	4.5%
My application was rejected	1	2.1%	–	–	1	4.5%
Total	48	100%	26	100%	22	100%

Source: Research results.

Table 6. Guarantors’ involvement for grant funding.

	Total		Men		Women
	No.	%	No.	%	No.	%
Yes	24	50%	13	50%	11	50%
No	24	50%	13	50%	11	50%
Total	48	100%	26	100%	22	100%

Source: Research results.

Table 7. Guarantee consortium’s involvement.

	Total		Men		Women
	No.	%	No.	%	No.	%
Yes	24	50%	12	46.2%	12	54.5%
No	24	50%	14	53.8%	10	45.5%
Total	48	100%	26	100%	22	100%

Source: Research results.

Table 8. Benefits obtained thanks to guarantee consortium (max 3 answers).

	Total		Men		Women
	No.	%	No.	%	No.	%
No, I didn’t get any benefit	2	8.3%	2	16.7%	–	–
Yes, I obtained the entire funding	20	83.3%	9	75%	11	91.7%
Yes, I paid a lower interest ratio	20	83.3%	9	75%	11	91.7%
Yes, I got an higher amount than what I would have got on my own	1	4.2%	–	–	1	8.33%
Yes, I paid lower bank charges	1	4.2%	1	8.3%	–	–
Yes, I had to provide fewer guarantees	2	8.3%	2	16.7%	–	–
Yes, I got other benefits	–	–	–	–	–	–

Source: Research results.

Table 9. Other variables affecting access to bank credit.

Variable	Sample		Funding								Guarantor						Credit guarantee consortium
			Yes, the entire amount		Yes, only a part		No		Total		Yes		No		Total		Yes		No		Total
	N	%	N	%	N	%	N	%	N	%	N	%	N	%	N	%	N	%	N	%	N	%
Entrepreneur’s age
Young (≤ 35 years)	4	8	3	75	0	0	1	25	4	100	2	50	2	50	4	100	2	50	2	50	4	100
Adult (> 35)	44	92	35	80	6	14	3	7	44	100	22	50	22	50	44	100	22	50	22	50	44	100
Total	48	100	38		6		4		48		24		24		48		24		24		48
Education
Primary or secondary school	27	56	22	81	3	11	2	7	27	100	11	41	16	59	27	100	13	48	14	52	27	100
High school or university	21	44	16	76	3	14	2	10	21	100	13	62	8	38	21	100	11	52	10	48	21	100
Total	48	100	38		6		4		48		24		24		48		24		24		48
Entrepreneur’s experience
New entrepreneur	4	9	3	75	1	25	0	0	4	100	2	50	2	50	4	100	3	75	1	2	4	100
Mature	5	10	4	80	0	0	1	20	5	100	3	60	2	40	5	100	0	0	5	100	5	100
Senior	39	81	31	79	5	13	3	8	39	100	19	49	20	51	39	100	21	54	18	46	39	100
Total	48	100	38		6		4		48		24		24		48		24		24		48
Firm’s age
6 to 10 years	13	27	10	77	2	15	1	8	13	100	7	54	6	46	13	100	4	31	9	69	13	100
More than 10 years	35	73	28	80	4	11	3	9	35	100	17	49	18	51	35	100	20	57	15	43	35	100
Total	48	100	38		6		4		48		24		24		48		24		24		48
Industry
Manufacturing	18	38	14	78	2	11	2	11	18	100	8	44	10	56	18	100	11	61	7	39	18	100
Service / Trade	30	63	24	80	4	13	2	7	30	100	16	53	14	47	30	100	13	43	17	57	30	100
Total	48	100	38		6		4		48		24		24		48		24		24		48

Source: Research results.