How Does Femininity Affect Entrepreneurial Success?

In a dynamic and uncertain entrepreneurial environment, femininity is a key factor in the development of entrepreneurial activities and has a significant impact on entrepreneurial success. However, there is still no consensus on how femininity affects entrepreneurial success. Therefore, this paper attempts to study the impact of femininity on entrepreneurial success from a nonlinear perspective. Based on data on 1363 female entrepreneurs in China, quantitative analysis is adopted to analyze the relationship between female characteristics and entrepreneurial success. The results show that the effect of femininity on entrepreneurial success is variable, showing an S-shaped trend of first increasing, then decreasing, and then increasing. Meanwhile, the incorporation of the entrepreneurial development stage into the model supports the argument of a nonlinear relationship between femininity and entrepreneurial success; that is, femininity has a positive impact on entrepreneurial success in the start-up period, a negative impact on entrepreneurial success in the growth period, and a positive impact once again in the maturity period. The findings strengthen arguments advanced by the non-linear view that femininity has both positive and negative effects on entrepreneurial success throughout the entrepreneurial process. The wider significance of these findings is that women entrepreneurs can clearly recognize the role of their femininity in the entrepreneurial process, which provides important insights for female entrepreneurs to grasp their own characteristics and improve the success rate of entrepreneurship. At the same time, in different stages of development, these research results enable female entrepreneurs to timely and appropriately exert their femininity, adapt to market trends and opportunities, and make enterprises succeed and achieve sustainable development.