How female entrepreneurship may boost business innovation and internationalization

Abstract This study sought to analyze the role female entrepreneurship plays in the internationalization and innovation process of firms. Additionally, this study aims to contribute to a better understanding of how the countries of Europe and Central Asia are grouped in terms of female entrepreneurship. Our analysis used secondary data collected from the Enterprise Surveys—The World Bank database to which multivariate statistical analysis were applied. The results suggest a non‐significant statistical relationship between female entrepreneurship and internationalization, which may be explained by high capital access constraints female entrepreneurs face. There are cultural and social barriers that affect the decision of women entrepreneurs to internationalize. Our results also show interdependence between internationalization and innovation. The results also suggest that the countries of Europe and Central Asia can be divided into two clusters. The difference between the two clusters can be justified by the role of women in the countries concerned. The originality of this article is related to the analysis of the possible contribution of women entrepreneurship to the internationalization of firms, which is still an understudied area, because of the exclusion of women entrepreneurs from the market due to the male norms that dominate the socioeconomic contexts. Additionally, the findings of this research can contribute to the implementation of a strategic policy framework to encourage female entrepreneurship.