Identifying success factors for female entrepreneurs using the AMO framework: Empirical evidence from Japan

This study applies deep insights from the ability, motivation, and opportunity (AMO) framework as an overarching theoretical perspective to identify critical success factors for female entrepreneurs. In doing so, it investigates how entrepreneurial persistence (i.e., motivation or “M”), together with prior venture experience (i.e., ability or “A”) and competitive intensity (i.e., opportunity or “O”) influence the success of women's entrepreneurial activities. Using data from 308 Japanese female entrepreneurs, we show a positive association between entrepreneurial persistence and female entrepreneurs' venture growth, which becomes stronger when prior venture experience and competitive intensity are considered. Most importantly, the three-way interaction between these factors maximizes the business performance of female entrepreneurs. Thus, venture growth is the highest in the presence of high levels of entrepreneurial persistence, prior venture experience, and competitive intensity. Our findings suggest that policy makers should improve the competitiveness of women-led ventures and create supportive business environments for female entrepreneurs.