Gender effects and firm financial performance: A SUMAD meta-analysis of social responsibility and family-to-work conflict

Abstract

The current study uses SUMAD meta-analytic methods (Oh, 2020) to examine gender differences in social responsibility and family-to-work conflict. Synthesizing evidence from across social science literature, the results of this study provide an evidence-based foundation to support more theorizing and practical discourse regarding gender effects in entrepreneurship. As explained by theories of socialization and social roles, gender differences in (a) socially responsible attitudes and behaviors and (b) the balance between family and work responsibilities, are likely two of the more pervasive gender effects that influence entrepreneurial careers. The goal of this study is to motivate more research and practical discussion on these and related gender effects to improve our understanding of entrepreneurship phenomena. Using firm performance as an example, the results of the SUMAD meta-analysis suggest that gender effects related to social responsibility and family-to-work conflict have significant consequences for entrepreneurship outcomes. Based on the evidence and theory rooted in socialization and social roles, the current study calls for more theorizing and primary-level studies on these and related gender effects in entrepreneurship research. Comment to Readers:Does gender matter? Of course it does (depending on the issue). A simple search of “does gender matter” reveals ample discussion on this topic across a variety of gender issues. In this article I highlight gender regarding differences between women and men in social responsibility and family-to-work conflict. As the evidence suggests, gender does indeed matter as women – on average – are more socially responsible and have more family-to-work conflict than their men counterparts. The results of this study show that greater social responsibility is tied to better business performance whereas greater family-to-work conflict is tied to worse business performance. So, what should we do? First, acknowledge the fact that women and men are different in the contexts of social issues and family matters to clear the way for constructive discourse about these gender differences. Second, embrace that women are higher than men in socially responsible attitudes and behaviors, and that more women in business could inherently result in more socially responsible business practices. Moreover, while this is a societal win in and of itself, the results suggest it could also carry over to improved financial and economic performance. Lastly, focus more on “why” there are differences between women and men regarding family-to-work conflict. Specifically, emphasize both societal-driven influences (e.g., stereotypes; biases) and individual-driven influences (e.g., individual differences; personal preferences). Understanding these influences, which are not mutually exclusive, is key for maximizing the personal and professional well-being of both women and men.