Workforce Reductions at Women-Owned Businesses in the United States

This paper finds that women-owned private firms were less likely than firms owned by men to lay off workers during the recent recession. Women-owned firms were about 25% less likely to reduce their workforces than were firms owned by men, even after controlling for industry, size, and profitability. Women-owned firms operate with greater labor intensity and are less likely to hire temporary or leased workers. These patterns suggest that labor hoarding may be an aspect of a female business leadership style.