Graduation Year


Date of Submission


Document Type

Open Access Senior Thesis

Degree Name

Bachelor of Arts



Reader 1

Heather Antecol

Reader 2

Murat Binay

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This paper examines the inequalities that exist between male and female CEO’s and other top executives by analyzing the effect of gender diversity when it comes to venture capital funding and firm performance. Building off of previous research, I focus on three major areas. First, I utilize data from 2016 to 2018 found in PitchBook and Wharton Research Data Services (WRDS). Second, I explore the effect of firm performance prior to funding on the amount of capital received. Third, I narrow down the analysis of firms to 364 companies that were once venture capital backed and have successfully exited with an IPO within this time. I use separate models to estimate the effect of gender diversity on venture capital funding and firm performance thereafter. My findings suggest that gender diversity among executives appears to have a positive effect on venture capital funding, which is the opposite of what I hypothesized. Lastly, I find that female executives have an insignificant effect on firm performance after receiving funding.