“…In the entrepreneurship field, researchers provide evidence that women entrepreneurs exhibit a lower level of innovativeness (Fuentes-Fuentes et al, 2015) and underperform on their financial performance indices (Powell, Eddleston, 2013). Women's risk aversion, family responsibilities, and insufficient resources explain this underperformance (Ahmad, 2011;Belghiti-Mahut et al, 2016). Moreover, the lack of social capital, education, and managerial skills, discriminatory treatment by the state administration, and limited access to bank loans explain the failure of women entrepreneurs (Ahmad, 2011;Boden, Nucci, 2000;Winn, 2005), in particular in developing countries (Goyal, Yadav, 2014).…”