Managerial Positions of Women in Spanish Exporting SMEs

The aim of this paper is to analyze the influence on Spanish Small and Medium Enterprises exporting activity of women in managerial positions. We distinguish women in three roles: as owners, as board members and as executive managers. Data were collected from System for Analysis of Iberian Balances database and the Spanish High Council of Chamber website. We built a sample of 266 Spanish exporting SMEs during the period 2000 to 2011, characterized by both financial stability and instability. Applying panel data methodology we observe that firms with executive women are more likely to export, have higher exported volumes, exhibit a more cautious selection of countries and exert a moderation effect in times of crisis. We also confirm the prudential character of women as owners while there are no significant results for women as board members. The paper has some implications for researches, SME's governance and policy-makers