Paper Title
A MULTILEVEL ANALYSIS OF GENDER, AND FIRMS’ GROWTH PERFORMANCE: CONTINGENCIES RELATED TO THE INSTITUTIONAL ENVIRONMENT AND NATIONAL CULTURE

Abstract
In this paper, we raised the following questions: Does having a critical mass of females in the ownership layer of a firm’shierarchy matter for firm growth performance (sales growth)? We further explore contextual factors that influence female representation in firm ownership and the firm growth linkage. Using the World Bank’s Enterprise survey data, a multilevel model was employed to test the hypotheses using an extensive sample of 3,061 firms from 18 countries. Result refutes the general female underperformance conception and instead suggests that a critical mass (measured as at least 20%) of firm ownership by females is associated with positive firm growth and that this firm level association is accentuated under the gender equality in an institutional environment. The results, however, find limited support for the moderating effect of two other cultural dimensions. The study’s limitations, theoretical contributions and implications for future research are discussed. Keywords: Critical Mass, Cross-National, Gender, Firm Ownership, Gender Equality, Multidisciplinary, Multilevel analysis, National culture, Sales Growth, Women Entrepreneurship