Table 3 Descriptive statistics...

Table 3

Descriptive statistics

	Female-owned	Male-owned	Difference	Standard error	T-stat	N
Log total revenues	7.563	8.227	−0.665	0.287	−2.318	2,393
Log net profit	1.265	1.796	−0.531	0.516	−1.030	2,269
Average age	45.363	44.499	0.864	0.521	1.660	2,752
Average work exp (same ind)	9.437	12.850	−3.413	0.491	−6.955	2,754
Avg education^a	6.215	6.045	0.170	0.102	1.670	2,747
Provides product	0.536	0.493	0.043	0.026	1.677	2,756
Provides service	0.808	0.879	−0.071	0.020	−3.618	2,756
Sole proprietorship	0.537	0.362	0.176	0.025	6.896	2,756
Avg hrs worked	39.903	42.124	−2.221	1.156	−1.920	2,749
Log total size	0.463	0.705	−0.242	0.037	−6.512	2,676
Number owner operators	1.161	1.317	−0.155	0.030	−5.198	2,756
Home based	0.536	0.493	0.043	0.026	1.677	2,756
Website	0.402	0.413	−0.011	0.025	−0.429	2,756
Email	0.876	0.870	0.006	0.017	0.349	2,756
Hi tech business	0.009	0.022	−0.014	0.001	−10.342	2,756
Medium tech business	0.107	0.148	−0.041	0.007	−5.566	2,756
Low tech business	0.884	0.830	0.054	0.008	7.140	2,756

	Female-owned	Male-owned	Difference	Standard error	T-stat	N
Log total revenues	7.563	8.227	−0.665	0.287	−2.318	2,393
Log net profit	1.265	1.796	−0.531	0.516	−1.030	2,269
Average age	45.363	44.499	0.864	0.521	1.660	2,752
Average work exp (same ind)	9.437	12.850	−3.413	0.491	−6.955	2,754
Avg education^a	6.215	6.045	0.170	0.102	1.670	2,747
Provides product	0.536	0.493	0.043	0.026	1.677	2,756
Provides service	0.808	0.879	−0.071	0.020	−3.618	2,756
Sole proprietorship	0.537	0.362	0.176	0.025	6.896	2,756
Avg hrs worked	39.903	42.124	−2.221	1.156	−1.920	2,749
Log total size	0.463	0.705	−0.242	0.037	−6.512	2,676
Number owner operators	1.161	1.317	−0.155	0.030	−5.198	2,756
Home based	0.536	0.493	0.043	0.026	1.677	2,756
Website	0.402	0.413	−0.011	0.025	−0.429	2,756
Email	0.876	0.870	0.006	0.017	0.349	2,756
Hi tech business	0.009	0.022	−0.014	0.001	−10.342	2,756
Medium tech business	0.107	0.148	−0.041	0.007	−5.566	2,756
Low tech business	0.884	0.830	0.054	0.008	7.140	2,756

Note(s): ^aRepresents the average of the highest education of the team members. As per the variable description, category 6 represents “some graduate school but no (masters) degree.” Thus, the team members of both male and female majority teams on average have completed a bachelor’s degree and completed some post-graduate coursework without earning a master’s degree

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