theoretical grounding and hypothesis development
as this paper adopts a gender perspective in the analysis of informal investment, we will use some concept developed by feminist economic thought, specifically by the role investment theory, in order to base our hypothesis. self-interest, altruism and agency theory are also important in supporting the theoretical reasoning behind empirical observations. role investment theory.according to D. D. Bielby and W. T. Bielby (1988). England (1984) and lobel (1991), role investment theory is based on the idea thar family decision-making has traditionally implied some "trade off" in the roles played by each member of the marital couple. this leads to differences in role specification and specialization. orser, ridding and manley (2006) point out that in the context of small businesses, this implies differences in the investment in commercial activities (and, consequently, in managerial experience and styles) , in social networks (as a consequence of business relationships) and in the time dedicated to developping businesses. in relation to financing, the same authors point out that gender roles are manifested through different levels of tolerance to risk. traditionaly, men specialize in financial roles , because of which it would be expected that there are proportionally more informal investors than female.
theoretical grounding and hypothesis developmentas this paper adopts a gender perspective in the analysis of informal investment, we will use some concept developed by feminist economic thought, specifically by the role investment theory, in order to base our hypothesis. self-interest, altruism and agency theory are also important in supporting the theoretical reasoning behind empirical observations. role investment theory.according to D. D. Bielby and W. T. Bielby (1988). England (1984) and lobel (1991), role investment theory is based on the idea thar family decision-making has traditionally implied some "trade off" in the roles played by each member of the marital couple. this leads to differences in role specification and specialization. orser, ridding and manley (2006) point out that in the context of small businesses, this implies differences in the investment in commercial activities (and, consequently, in managerial experience and styles) , in social networks (as a consequence of business relationships) and in the time dedicated to developping businesses. in relation to financing, the same authors point out that gender roles are manifested through different levels of tolerance to risk. traditionaly, men specialize in financial roles , because of which it would be expected that there are proportionally more informal investors than female.
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