Determinants of success of businesses of female entrepreneurs in taiwan

Abstract

This paper deals with the topic area “female entrepreneurship,” and the research focuses on the determinants of female entrepreneurs’ business success and sustainability, together with their impact on Taiwan’s economic development. According to the Morgan Stanley Capital International (MSCI) and the Financial Times Stock Exchange (FTSE) classification, Taiwan can be considered an emerging economy. Various liberal and social theories and Hofstede’s cultural dimensions were analyzed to develop some hypotheses, including some relevant success factors connected to female entrepreneurship in Taiwan. The Global Entrepreneurship Monitor (GEM) and the Female Entrepreneurship Index (FEI) were relevant for the data analysis because the research was based on secondary data with 1098 observations, and a logistic regression model was performed. The factors of fear of failure and personal network correlated significantly to female entrepreneurs’ business success in Taiwan and the level of education had no significant correlation. Further research is recommended to include additional factors to achieve a higher accuracy of the model. A comparison of Taiwan with another region/country might also deliver some interesting insights.