What drives women towards domestic vs international business venturing? An empirical analysis in emerging markets

Focusing on emerging markets, this paper compares the motives behind the entrepreneurial activities of women within and across national boundaries. The research builds on the opportunity-necessity spectra and explores the interaction of four types of entrepreneurial motives: (i) becoming independent; (ii) gaining financial rewards; (iii) the lack of employment alternatives; and (iv) multiple motives. Panel data from 25 emerging market countries for the seven-year period between 2010 and 2016 are tested through a static approach comparing fixed and random effects followed by dynamic analysis using the generalised method of moments estimator. The findings reveal that financial rewards (maintain/increase income) encourage women towards international entrepreneurship, whereas necessity-driven motives (lack of job alternatives) lead women to start businesses in their home countries. Additionally, nonfinancial desires (such as becoming independent) have a negative impact on both domestic and international entrepreneurship by women.