Dynamic Rela ti onships Management Journal, Vol. 11, No. 2, November 2022 97 Abstract We used bibliometric methods to examine studies related to women entrepreneurship. Specifically, we focused on understanding the recent trends, the most influen ti al publica ti ons and journals, topics on which women entrepreneur ‐ ship studies are conducted, and deciphering the future direc ti on of women entrepreneurship studies. We used the Scopus database to extract 1,554 documents published from 1982 to 2022 and analyzed the scien ti fic publica ti ons per year, the most cited arti cles, sources of publica ti ons, keyword co ‐occurrence, thema ti c structure (topic modeling), and bibliographic coupling. We found that the scien ti fic publica ti ons related to women entrepreneurship are increas ‐ ing significantly each year, and the most consistent keyword is “gender.” Cita ti on analysis iden ti fied Ahl (2006) as the most cited ar ti cle, which demonstrates Ahl’s notable influence, as well as the success of the gender turn influenced by feminist theory. Co ‐word analysis found seven clusters showing the thema ti c structure of women entrepreneurship research. Bibliographic coupling analysis found four clusters, encompassing various aspects associated with women entrepreneurship. The clusters are “Role of gender in an entrepreneur’s performance,” “Challenges and upcoming issues faced by women entrepreneurs,” “Impact of geographic loca ti on on women entrepreneurship,” and “Financial struggles of women entrepreneurs.” Topic modeling using the latent Dirchlet alloca ti on algorithm (LDA) iden ti fied seven areas of interest in the women entrepreneurship literature. We conclude with implica ti ons and sugges ti ons for future research. Keywords: women entrepreneurship, female entrepreneurship, bibliometric analysis, bibliographic coupling, co ‐word analysis, topic modeling GOING BACK TO THE ROOTS: A BIBLIOMETRIC AND THEMATIC ANALYSIS OF WOMEN ENTREPRENEURSHIP Naira Fayaz Amity Business School, Amity University U tt ar Pradesh, India Mirnaira13@gmail.com Sujata Khandai Amity College of Commerce and Finance, Amity University Utt ar Pradesh, India Skhandai@amity.edu Ivan Zupic Ins ti tute of Management Studies, Goldsmiths, University of London, England i.zupic@gold.ac.uk Avneet Kaur Amity College of Commerce and Finance, Amity University Utt ar Pradesh, India Kauravneet483@gmail.com Vol. 11, No. 2, 97 ‐115 doi:10.17708/DRMJ.2022.v11n02a07 Dynamic Rela ti onships Management Journal, Vol. 11, No. 2, November 2022 Naira Fayaz, Sujata Khandai, Ivan Zupic, Avneet Kaur: Going Back to the Roots: A Bibliometric and Thema ti c Analysis of Women Entrepreneurship 98 1 INTRODUCTION Increased scholarly and poli ti cal a tt en ti on has been invested in women entrepreneurship in recent years (Henry, Foss, & Ahl, 2016; Jennings & Brush, 2013). Globally, there are an es ti mated 274 million women involved in business startups. This does not include 139 million women owners/managers of es ‐ tablished businesses and 144 million women who are informal investors (GEM, 2020–21, p.14). It is now well accepted that women contribute significantly to en ‐ trepreneurial ac ti vity (Noguera, Álvarez, & Urbano, 2013) and economic development (Kelley et al., 2017, Hechevarría, Bullough, Brush, & Edleman, 2019) by crea ti ng new jobs and thus leading to an increase in the gross domes ti c product (GDP) (Bahmani ‐Oskooee, Kutan, & Xi, 2013; Ayogu & Agu, 2015). This has had a cascading e ffect on reducing poverty and social exclu ‐ sion (Langowitz & Minni ti , 2007; Rae, 2015). The number of studies and the a tt en ti on being paid to the realm of women entrepreneurship has in ‐ creased strongly in recent years. This includes several reviews of women’s entrepreneurship which furnish an understanding of the field. Brush (1992) reviewed 57 studies of women entrepreneurship published during the period 1975–1991 and proposed a new “integrated perspec ti ve for future research.” A ft er re ‐ viewing 81 research ar ti cles published during 1982– 2000 in leading entrepreneurship and management journals, Ahl (2006) cri ti cized a few shortcomings of women entrepreneurship research, revealed a trend of recrea ti ng the idea of women as being subordinate to men, and suggested new research direc ti ons. In addi ti on to these studies, the contribu ti ons of studies of women entrepreneurship to general en ‐ trepreneurship theories over the last 30 years was evaluated by Jennings & Brush (2013). More recently, the developmental trajectory of women en ‐ trepreneurship research, detec ti ng new research horizons, and developing trends in the literature was studied by Deng, Liang, Li, and Wang (2020). A com ‐ prehensive literature review and bibliometric analysis by Aggarwal and Johal (2021) a tt empted to iden ti fy a link between rural women and entrepreneurship. However, the significant growth of women en ‐ trepreneurship globally calls for a more thorough and comprehensive review and analysis of studies on the topic. Exis ti ng reviews, with the excep ti on of that by Deng et al. (2020), focused on a small num ‐ ber of studies published in management and busi ‐ ness journals. Hence, a major shortcoming that exists today is the lack of a more comprehensive un ‐ derstanding of the development trajectory and re ‐ cent and future trends in the domain of women entrepreneurship. Taking these shortcomings into considera ti on, this study answers the following ques ti ons: 1. What are the most influen ti al studies and out ‐ lets for women entrepreneurship? 2. What is the thema ti c structure of women en ‐ trepreneurship literature? 3. What is the intellectual structure of studies on women entrepreneurship? 4. What are the recent trends in the field of women entrepreneurship research? 5. How will the exis ti ng research shape the future direc ti on of women entrepreneurship studies? We bring clarity to the cumula ti ve knowledge of women entrepreneurship through a bibliometric analysis using bibliographic coupling, cita ti on anal ‐ ysis, co ‐word analysis, and topic modeling. By an ‐ swering the research ques ti ons, this bibliometric review makes the following contribu ti ons. First, this paper provides a comprehensive, systema ti c, and objec ti ve review of women entrepreneurship. Our study further complements exis ti ng reviews by con ‐ duc ti ng a co ‐word analysis, topic modeling, and bib ‐ liographic coupling, and visualizing them comprehensively. Second, we iden ti fy the areas of women entrepreneurship which demand increasing a tt en ti on, including an increasing focus on work–life balance and the significance and impera ti ve of net ‐ working to business. Thirdly, our study highlights a burgeoning interest in women entrepreneurs from developing countries Future research needs to focus on the women entrepreneurship ecosystem to study the ins ti tu ‐ ti onal environment embedded within it and work on improving it, because it is important to increase the percentage of women in entrepreneurship be ‐ cause of the possible economic benefits that could be derived from this. Dynamic Rela ti onships Management Journal, Vol. 11, No. 2, November 2022 99 2 LITERATURE REVIEW Entrepreneurship as a topic of research gained significance in the 1930s (Yadav & Unni, 2016). It took almost 50 years for the sub ‐domain of “women en ‐ trepreneurship” to emerge as a topic of research (Jennings & Brush, 2013). According to Schwartz (1976), Yadav and Unni’s (2016) review study of “fe ‐ male entrepreneurship” was the first ”academic re ‐ search paper,” Hisrich and O’Brien (1981) was the first “academic conference presenta ti on,” and Go ffee and Scase (1985) was the first book on the topic. Accord ‐ ing to Jennings and Brush (2013), the late 1990s and early 2000s were pivotal years in the study of women entrepreneurs, during which two conferences paved the way for women entrepreneurship as a research area. The first was a “policy ‐oriented Organiza ti on for Economic Coopera ti on and Development (OECD) Conference on women entrepreneurs in small and medium ‐sized enterprises” in 1998, and the second occurred in 2003 when Diana Interna ti onal hosted an academic conference. A few studies have explored women en ‐ trepreneurship through qualita ti ve and/or biblio ‐ metric analysis. Cardella, Hernández ‐Sánchez, & Sánchez ‐García (2020) examined 2,848 ar ti cles re ‐ la ti ng to women entrepreneurship and discovered that it was a rela ti vely new area of inves ti ga ti on that has gained con ti nual a tt en ti on from scholars, with increasingly more arti cles published in the last 20 years. According to Cardella et al.’s (2020) study, women entrepreneurship as a research subject is shi ft ing focus from the inves ti ga ti on of poli ti cal and economic problems to the examina ti on of beneficial factors that allow for the bridging of the gender gap. Deng et al. (2020) reported consistent observa ti ons, sta ti ng that the literature on women entrepreneur ‐ ship has increased exponen ti ally since 2014, with as many as of 150 ar ti cles annually, and certain clusters have received enhanced a tt en ti on. These clusters include “entrepreneurial inten ti on,” “ini ti a ti ng force,” and “social network.” Bas ti an, Sidani, & El Amine, (2018) highlighted the significance of devel ‐ oping a theore ti cal framework that can aid in gain ‐ ing a comprehensive understanding of women entrepreneurship. The framework can aid in assess ‐ ing the uniqueness of the geographical area as well as some of the mo ti vators or hurdles in women en ‐ trepreneurship. A comprehensive view of women entrepreneurs is necessary to iden ti fy new research direc ti ons (Paoloni, Secundo, Ndou, & Moda ffari, 2018). Paoloni et al. (2018) highlights digital women entrepreneurship. They emphasize that a per ti nent socioeconomic and technological phenomenon can reshape exis ti ng businesses and create opportuni ‐ ti es for developing innova ti ve solu ti ons for society. Adom & Anambane (2019) examined the involve ‐ ment of culture and gender stereotypes in the en ‐ trepreneurial journey of women. They further highlight that culture, which encapsulates gender stereotypes, helps drive women’s entrepreneurial behavior . This is because of a desire to escape these stereotypes, as well as gender inequality, which has hampered women’s living standards. An increasing number of studies pertaining to women entrepreneurship are being published. However, a qualita ti ve review can include only a lim ‐ ited number of studies. This paper fills this gap by presen ti ng a large ‐scale systemic analysis of trends in women entrepreneurship studies, co ‐authorship networks, recent topics of women entrepreneurship studies, and what the future holds for studies in women entrepreneurship. 3 METHODOLOGY We performed a bibliometric analysis to gain a be tt er understanding of the most important influences on women’s entrepreneurship and how the available literature on women’s entrepreneurship is structured. We employed the Scopus database, which is well ‐ known in the research community and contains over 27 million abstracts, making it the largest database (Burnham, 2006). The search criteria for ar ti ‐ cles included keywords such as “women entrepreneur ‐ ship,” “female entrepreneurship,” “women entrepreneurs” or “female entrepreneurs.” The biblio ‐ graphic search returned 3,228 results for the period 1982–2022. The ar ti cle selec ti on therea ft er was refined using four criteria. First, the ar ti cle had to be wri tt en in English (Cardella et al., 2020); second, it had to be a sci ‐ en ti fic paper published in a peer ‐reviewed journal, be ‐ cause these are considered to be reliable sources of informa ti on (Podsako ff , MacKenzie, Bachrach, and Pod ‐ sako ff, 2005), Third, the ar ti cle had to be related to “business, management, and accoun ti ng.” Finally, the Dynamic Rela ti onships Management Journal, Vol. 11, No. 2, November 2022 Naira Fayaz, Sujata Khandai, Ivan Zupic, Avneet Kaur: Going Back to the Roots: A Bibliometric and Thema ti c Analysis of Women Entrepreneurship 100 research ar ti cle must not have been published in a book as a chapter or in a conference proceeding. The criteria further narrowed the selec ti on to 1,584 ar ti cles. This approach is based on the PRISMA method guidelines (Libera ti et al., 2009) used by Cardella et al. (2020). The present study analyses the temporal evolu ti on of research publica ti ons, the most prominent authors on the topic, the most produc ti ve journals in terms of total quan ti ty of published ar ti cles, and the na ti ons with the maximum number of research contribu ti ons using a series of bibliometric indicators. At the final stage of filtra ti on, all 1,584 arti cles were read by the researchers to shortlist the ar ti cles that were not related directly to women en ‐ trepreneurship. Such ar ti cles (n = 29) were removed from the data set. For example, if an ar ti cle had a keyword “women entrepreneurship” but did not discuss entrepreneurship per se, the ar ti cle was eliminated. A consensus among the researchers was reached a ft er this step, and the final number of ar ‐ ti cles used in the analysis was 1,554. VOS viewer so ft ware version 1.6.10 was used for the analysis. Because it uses a bibliometric technique, it enables graphic illustra ti on, iden ti fica ti on, and clas ‐ sifica ti on of groups in a strategic matrix predicated on commonali ti es and contrasts. The graphic crea ti on of maps leads to deeper examina ti on of the rela ti on ‐ ships between variables, which aids in a be tt er un ‐ derstanding of the nature of a research area and makes it an indisputable analysis instrument (Val ‐ laster, Kraus, Merigo Lindahl, and Nielsen, 2019). 4 RESULTS 4.1 Scien ti fic Publica ti ons per Year 1 Women are among the fastest ‐growing groups of entrepreneurs, contribu ti ng significantly to global advancement, employment genera ti on, and eco ‐ 1 Publica ti ons in 2022 were not taken into account for this analysis because the data were available for only 4 months. Figure 1: PRISMA method—process of sample selec ti on Dynamic Rela ti onships Management Journal, Vol. 11, No. 2, November 2022 101 nomic systems (Brush, 2006). As shown in Figure 2, the number of scien ti fic publica ti ons on the subject is increasing each year . Scien ti fic publica ti ons on top ‐ ics related to women entrepreneurship have been available for quite some ti me; the first published ar ‐ ti cle dates back to 1950 (Cardella et al., 2020). Figure 2 highlights the increasing trend in publica ti ons on the topic during the period 1982–2022. The earliest publica ti on on women entrepreneurship in our data set extracted from Scopus was from 1982. The progress in the chosen field of study remained low un ti l 1997, when 10 publica ti ons were reported. However, the number of publica ti ons decreased again un ti l 2005, a ft er which scien ti fic publica ti ons increased and remained in double digits (e.g., 11 in 2005, 24 in 2006, 25 in 2007, and 30 in 2008). Apart from 2010 and 2015, all other years exhibited a sig ‐ nificantly posi ti ve increase in the number of publi ‐ ca ti ons related to women entrepreneurship. The maximum number of publica ti ons was reported in 2021, 242 publica ti ons. 4.2 Ar ti cle Cita ti ons Table 1 lists the 20 most cited ar ti cles. The ar ti cles were sorted on the basis of cita ti ons received and link strength, extracted through VOS viewer. Ahl’s (2006) research paper “Why Research on Women En ‐ trepreneurs Needs New Direc ti ons” is the most cited (n = 966). The link strength of Ahl’s ar ti cle is 307, which indicates its significance. Fischer, Reuber, and Dyke’s (1993) research ar ti cle is the second most cited ar ti cle in the study’s database, with 528 cita ti ons. De ‐ spite being significantly new compared with other publica ti ons, Ahl (2006) is s ti ll the most cited paper. The list of other publica ti ons is presented in Table 1. 4.3 Source of Publica ti ons A list of journals which publish ar ti cles pertain ‐ ing to women entrepreneurship was prepared using VOS viewer. The threshold used for shortlis ti ng the sources was five published ar ti cles. Of a total of 336 Figure 2: Publica ti ons from 1982 to 2022 Dynamic Rela ti onships Management Journal, Vol. 11, No. 2, November 2022 Naira Fayaz, Sujata Khandai, Ivan Zupic, Avneet Kaur: Going Back to the Roots: A Bibliometric and Thema ti c Analysis of Women Entrepreneurship 102 No. First author Title Year Cita ti ons DOI 1 Ahl, H. Why Research on Women Entrepreneurs Needs New Direc ti ons 2006 966 h tt ps://doi.org/10.1111/j.1540 ‐ 6520.2006.00138.x 2 Fischer, E. M. A theore ti cal overview and extension of research on sex, gender, and entrepreneurship 1993 528 h tt ps://doi.org/10.1016/0883 ‐ 9026(93)90017 ‐Y 3 Cli ff, J. E. Does one size fit all? exploring the rela ti onship between a tti tudes towards growth, gender, and business size 1998 486 h tt ps://doi.org/10.1016/S0883 ‐ 9026(97)00071 ‐2 4 Parasuraman, S. Work and Family Variables, Entrepreneurial Career Success, and Psychological Well ‐Being 1996 482 h tt ps://doi.org/10.1006/jvbe.1 996.0025 5 Brush, C. G. A gender ‐aware framework for women’s entrepreneurship 2009 468 h tt ps://doi.org/10.1108/17566 260910942318 6 Du Rietz, A. Te s ti ng the Female Underperformance Hypothesis 2000 362 h tt ps://doi.org/10.1023/A:1008 106215480 7 Verheul, I. Start ‐Up Capital: “Does Gender Ma tt er?” 2001 361 h tt ps://doi.org/10.1023/A:1011 178629240 8 Baughn, C. C. The Norma ti ve Context for Women’s Par ti cipa ti on in Entrepreneurship: A Mul ti county Study 2006 333 h tt ps://doi.org/10.1111/j.1540 ‐ 6520.2006.00142.x 9 Fairlie, R. W. Gender di fferences in business performance: evidence from the Characteris ti cs of Business Owners survey 2009 333 h tt ps://doi.org/10.1007/s1118 7 ‐009 ‐9207 ‐5 10 Boden, Jr., R. J On the survival prospects of men’s and women’s new business ventures 2000 317 h tt ps://doi.org/10.1016/S0883 ‐ 9026(98)00004 ‐4 11 Mirchandani, K. Feminist insight on gendered work: New direc ti ons in research on women and entrepreneurship 1999 312 h tt ps://doi.org/10.1111/1468 ‐ 0432.00085 12 Verheul, I. Explaining female and male entrepreneurship at the country level 2006 305 h tt ps://doi.org/10.1080/08985 620500532053 13 Gundry, L. K. The ambi ti ous entrepreneur: High growth strategies of women‐owned enterprises 2001 294 h tt ps://doi.org/10.1016/S0883 ‐ 9026(99)00059 ‐2 14 Sexton, D. L. Female and male entrepreneurs: Psychological characteris ti cs and their role in gender ‐related discrimina ti on 1990 293 h tt ps://doi.org/10.1016/0883 ‐ 9026(90)90024 ‐N 15 Minni ti , M. Being in Someone Else’s Shoes: the Role of Gender in Nascent Entrepreneurship 2007 289 h tt ps://doi.org/10.1007/s1118 7 ‐006 ‐9017 ‐y 16 Anna, A. L. Women business owners in tradi ti onal and non ‐ tradi ti onal industries 2000 282 h tt ps://doi.org/10.1016/S0883 ‐ 9026(98)00012 ‐3 17 Orhan, M. Why women enter into entrepreneurship: an explanatory model 2001 278 h tt ps://doi.org/10.1108/09649 420110395719 18 Demar ti no, R. Di fferences between women and men MBA entrepreneurs: exploring family flexibility and wealth crea ti on as career mo ti vators 2003 273 h tt ps://doi.org/10.1016/S0883 ‐ 9026(03)00003 ‐X 19 Lewis, P . The quest for invisibility: Female entrepreneurs and the masculine norm of entrepreneurship 2006 272 h tt ps://doi.org/10.1111/j.1468 ‐ 0432.2006.00317.x 20 Hughes. K. D. Extending Women’s Entrepreneurship Research in New Direc ti ons 2012 266 h tt ps://doi.org/10.1111/j.1540 ‐ 6520.2012.00504.x Table 1: Most cited ar ti cles Dynamic Rela ti onships Management Journal, Vol. 11, No. 2, November 2022 103 sources, 60 met the designated criteria. Table 2 in ‐ dicates the top 10 sources or journals publishing ar ‐ ti cles related to the topic of research. Women entrepreneurship ar ti cles are published most fre ‐ quently in the Interna ti onal Journal of Gender and Entrepreneurship. The total number of ar ti cles pub ‐ lished in this journal was 143. The second journal is the Interna ti onal Journal of Entrepreneurship and Small Business. The di fference in the number of ar ‐ ti cles published in the first and second journals is in itself significant, and shows the dominance of the former journal in this field of study. However, during the analysis, we found that the Interna ti onal Journal of Gender and Entrepreneurship is not the most cited. The most cited is the Journal of Business Ven ‐ turing, which is ninth on the list of sources, with a total of cita ti ons of 4,819. Thus the Journal of Busi ‐ ness Venturing is the most influen ti al source in women entrepreneurship literature. 4.4 Co ‐Occurrence (Keywords) Based on 1,555 studies of women entrepreneurs, we applied VOS viewer to create a network of keyword co ‐occurrence. This network was e ffec ti ve in gaining insight into the ar ti cles’ linked content. “Author key ‐ words show the core of the study and the focal point of an inves ti ga ti on that are carefully selected by the authors,” according to Oraee, Hosseini, Papadoniko ‐ laki, Palliyaguru, and Arashpour (2017). The type and strength of the rela ti onship between various fields of knowledge is highlighted by keyword co ‐occurrence analysis. Only 220 keywords of a total of 3,337 passed the threshold. With a total link strength of 796, the keyword “gender” occurred most o ft en (290 ti mes), followed by “entrepreneurship,” which occurred 297 ti mes and had a link strength of 757. “Women” (oc ‐ currence = 213, link strength = 631), “women en ‐ trepreneurs” (occurrence = 244, link strength = 469), “entrepreneur” (occurrence = 89, link strength = 374), and “female entrepreneurship” (occurrence = 140, link strength = 278) also were among the top keywords. Figure 3 presents the keywords graphically. A further analysis of keyword co ‐occurrence in VOS viewer indicated seven clusters comprising 96 items, a ft er filtering for a minimum of 10 occur ‐ rences of a keyword. Cluster 1 and Cluster 2 are the largest, with 22 and 19 items, respec ti vely, in each cluster. The most common keyword (n = 297) in Cluster 1 is “entrepreneurship,” and “female en ‐ trepreneurs” (n = 117) is the most common in Clus ‐ ter 2. Prima facie, Cluster 1 highlights aspects pertaining to the entrepreneurial side of women’s enterprises, focusing on entrepreneurial inten ti ons, entrepreneurial orienta ti on, entrepreneurship, and entrepreneurship educa ti on. In addi ti on, the cluster contains keywords focusing on women empower ‐ ment, gender gap, and opportunity recogni ti on. Cluster 2 contains keywords focusing on busi ‐ ness development, growth, and performance. This cluster essen ti ally focuses on developing or emerg ‐ Table 2: Journals publishing ar ti cles related to women entrepreneurship No. Journal Publica ti ons Cita ti ons 1 Interna ti onal Journal of Gender and Entrepreneurship 143 2,835 2 Interna ti onal Journal of Entrepreneurship and Small Business 92 1,003 3 Small Business Economics 51 2,847 4 Gender in Management 51 727 5 Journal of Developmental Entrepreneurship 45 487 6 Interna ti onal Journal of Entrepreneurial Behaviour and Research 43 1,279 7 Journal of Small Business and Entrepreneurship 41 453 8 Interna ti onal Entrepreneurship and Management Journal 33 1,046 9 Journal of Business Venturing 32 4,819 10 Journal of Small Business Management 31 744 Dynamic Rela ti onships Management Journal, Vol. 11, No. 2, November 2022 Naira Fayaz, Sujata Khandai, Ivan Zupic, Avneet Kaur: Going Back to the Roots: A Bibliometric and Thema ti c Analysis of Women Entrepreneurship 104 ing na ti ons such as India and Nigeria, among others. Cluster 3 contains 17 items and highlights gender is ‐ sues, equality, and rela ti ons, par ti cularly in the face of the global pandemic. A significant keyword in Cluster 3 is “covid ‐19.” Cluster 4 contains 12 items, and this cluster essen ti ally highlights theories such as the gender theory, feminist theory, and ins ti tu ‐ ti onal theory. Gender di fferences and gender stereo ‐ types appear in Cluster 5. Cluster 6, with eight items, highlights the challenges and barriers encountered by women entrepreneurs. Cluster 7 deals with as ‐ pects pertaining to work–life balance and venture capital, in addi ti on to gender and leadership. 4.5 Topic Modeling We further analyzed the abstracts of our docu ‐ ments using the latent Dirichlet alloca ti on (Blei, Ng, & Jordan, 2003) algorithm (LDA). Our analysis found twelve topics summarized in Table 4. The iden ti fied topics helped in narrowing the trends and/or pa tt erns being followed in the area of interest. Upon analyzing the topics, it was found that few of these topics are similar; e.g., Topics 1 and 11. Whereas the former concerns the general perspec ‐ ti ve of women entrepreneurship, the la tt er concerns the gender disparity in raising funds and capital for Figure 3: Keyword co ‐occurrence Table 3: Co ‐word clusters Cluster Cluster ti tle Items Keywords 1 Entrepreneurial aspect 22 Entrepreneurship, entrepreneurial inten ti ons, entrepreneurial orienta ti on 2 Commercial aspect 19 Business development, business growth, business performance 3 Gender ‐based aspect 17 Covid ‐19, economic development, gender equality, gender issue, gender rela ti ons 4 Theore ti cal aspect 12 Feminist theory, gender theory, ins ti tu ti onal theory 5 Gender ‐di fferences aspect 10 Gender di fferences, gender stereotype, UAE, Middle East 6 Challenges and barriers 08 Barriers, challenges, Malaysia, South Africa 7 Managing finances and work–life balance 08 Work–life balance, venture capital Dynamic Rela ti onships Management Journal, Vol. 11, No. 2, November 2022 105 business. Topics 5 and 6 also are similar. Whereas Topic 6 contains ar ti cles pertaining to how to man ‐ age the business owned by women or how female entrepreneurs are managing them, Topic 5 contains ar ti cles highligh ti ng the significance of networking and socializing. Topics 7 and 10 include ar ti cles in which significance is accorded to soft‐ skill enhance ‐ ment and management. Training, development, and mo ti va ti on are crucial for the success of any busi ‐ ness, irrespec ti ve of the gender of the owner. From a theore ti cal perspec ti ve, Topic 3 includes terms and ar ti cles considered important for theore ti cal advancement and understanding of various tech ‐ niques and methodologies for conduc ti ng research on women entrepreneurship. There is increasing focus on women entrepreneurs and work–life balance, in addi ‐ ti on to substan ti al interest in women entrepreneurs from developing countries. An area a tt rac ti ng signifi ‐ cant a tt en ti on is the significance of socializa ti on and networking for women entrepreneurs. Table 4: Topic modeling analysis Topic Descrip ti on Top terms 1 A gender ‐based perspecti ve of entrepreneurship Gender, entrepreneurship, women, entrepreneurial, context, social, gendered, experiences, iden ti ty, ins ti tu ti onal, cultural, prac ti ces, contexts, culture, values, norms, theory, explores, change, feminist 2 Women entrepreneurs and work ‐life balance Family, entrepreneurs, business, women, work, role, support, life, personal, experience, career, roles, influence, balance, entrepreneur, related, members, conflict, present, job 3 Theore ti cal approach to entrepreneurship Purpose, limited, entrepreneurship, literature, originality, design methodology approach, prac ti cal, studies, understanding, group, future, framework, limita ti ons, implica ti ons, approach, qualita ti ve, review, aims, context, insights 4 Entrepreneurship in a global context Entrepreneurship, countries, female, economic, acti vity, springer, nature, global, interna ti onal, policy, chapter, part, developing, region, ins ti tu ti ons, economies, country, emerging, cultural, level 5 Significance of socializa ti on and networking for women entrepreneurs Social, case, networks, process, media, venture, network, learning, crea ti on, networking, entrepreneur, opportuni ti es, entrepreneurs, community, woman, opportunity, area, immigrant, digital, business 6 Management of business venture by a women entrepreneur Development, women, management, innova ti on, leadership, studies, developed, model, focus, enterprise, role, companies, organiza ti ons, order, aim, innova ti ve, sustainable, dimensions, start ‐ups, tourism 7 Skill enhancement through training and development Business, entrepreneurs, women, support, training, government, skills, level, programs, ques ti onnaire, iden ti fy, survey, start, lack, develop, educa ti on, group, groups, collected, respondents 8 Women entrepreneurial scenario at a global level Business, businesses, growth, performance, capital, small, financial, firms, entrepreneurs, enterprises, access, owners, firm, women owned, impact, human, SMEs, micro, significant, survey 9 Women entrepreneurs of developing markets Employment, sector, economy, informal, market, knowledge, ac ti vi ti es, par ti cipa ti on, marke ti ng, number, industry, income, increase, working, employed, sources, general, due, formal, people 10 Mo ti va ti onal factors for entrepreneurship Entrepreneurial, factors, success, rela ti onship, influence, educa ti on, significant, posi ti ve, model, mo ti va ti on, factor, inten ti on, perceived, orienta ti on, variables, role, university, inten ti ons, students, structural 11 Gender disparity in raising capital for a venture Female, entrepreneurs, gender, male, men, di fferences, ventures, gap, compared, risk, start, characteris ti cs, venture, females, financing, interest, higher, examine, greater, funding 12 Challenges and prospects faced by women entrepreneurs Women, entrepreneurs, challenges, interviews, rural, barriers, economic, empowerment, enterprises, India, face, poten ti al, society, faced, ac ti vi ti es, conducted, mo ti va ti ons, developing, depth, country Dynamic Rela ti onships Management Journal, Vol. 11, No. 2, November 2022 Naira Fayaz, Sujata Khandai, Ivan Zupic, Avneet Kaur: Going Back to the Roots: A Bibliometric and Thema ti c Analysis of Women Entrepreneurship 106 4.6 Bibliographic Coupling Bibliographic coupling employs cita ti on analysis to ascertain a similarity rela ti onship between pub ‐ lica ti ons. This happens when two works refer to the same third work in their respec ti ve bibliographies. The “coupling strength” of two documents increases as the number of shared cita ti ons of other publica ‐ ti ons increases (Martyn, 1964). Colla ti ng the con ‐ nec ti ons between all the publica ti ons in a field of research aids in the crea ti on of a map of the re ‐ search field and the iden ti fica ti on of sub ‐groups (clusters) of research using quan ti ta ti ve network analysis methods (Zupic & Čater, 2015). The bibliographic coupling technique was ap ‐ plied to the en ti re data set of 1,554 documents, using a minimum of 100 cita ti ons per document, a resolu ti on size of 1.25, and a minimum cluster size of 5. This gave us a visual representa ti on of 70 doc ‐ uments fulfilling the aforemen ti oned filters from five clusters. A graphic representa ti on is provided in Figure 4. Cluster 1 (Red): Role of Gender in an Entrepreneur’s Performance The first cluster is the largest, containing 27 doc ‐ uments. It contains some of the most cited ar ti cles, e.g., Ahl (2006), which is cited 966 ti mes, and Cli ff (1998), which is cited 486 ti mes. This cluster’s most dominant sub ‐theme is “gender ‐based studies.” This topic is covered in 11 ar ti cles. For example, Roper and Sco tt (2009) discussed the di fficul ti es that women entrepreneurs face in obtaining funds for their start ‐ups. Following Roper and Sco tt (2009), Fairlie and Robb (2009) inves ti gated the role of prior work experience to explain why women’s enterprises have rela ti vely low survival rates, revenues, employ ‐ ment, and profits. However, in contrast, Orser, Rid ‐ ing, and Manley (2006) reported that women and men entrepreneurs are equally likely to seek external financing. However, women entrepreneurs refrain from seeking equity funding, because they primarily own small and medium enterprises. Similar work by authors such as Cromie (1987), Cowling and Taylor Figure 4: Bibliographic coupling map with four clusters of the top 100 ar ti cles Dynamic Rela ti onships Management Journal, Vol. 11, No. 2, November 2022 107 (2001), Demar ti no and Barbato (2003), and Ahl (2006) appears in the cluster. The other sub ‐theme on which authors are fo ‐ cusing is how performance of a venture run by women entrepreneurs is measured or impacted. Mitchelmore and Rowley (2013) developed a “Fe ‐ male Entrepreneur Competence” framework which provides a basis for an agenda focusing on educa ‐ ti on and overall development of women en ‐ trepreneurs. For years, authors have focused on how the performance of women’s entrepreneurial ventures can be enhanced (Parasuraman, 1996; Orhan & Sco tt , 2001; Brindley, 2005; Mitchelmore, 2013). Cluster 1 highlights the importance of collat ‐ ing gender ‐based studies with performance ‐based studies (in rela ti on to women entrepreneurs). Cluster 2 (Green): Challenges and Upcoming Issues Faced by Women Entrepreneurs This is the second largest cluster, with 18 items. This cluster contains publica ti ons which focus on is ‐ sues that women entrepreneurs might encounter, not just in developing countries but also in devel ‐ oped na ti ons such as the USA and Sweden. From a prac ti cal point of view, this cluster is significant. Pub ‐ lica ti ons in this cluster bring a tt en ti on to certain is ‐ sues that are universal, e.g., work–life balance and managing the domes ti c role. The most cited (n = 100) ar ti cle in this cluster, Ahl and Nelson (2015), explains that even in countries with “family ‐ friendly” welfare policies such as Sweden, women entrepreneurs face challenges in taking their ven ‐ ture to the next level. Interes ti ngly, this cluster also contains certain ar ti cles which focus on gender awareness (Brush, 2009), gender iden titi es (Garcia & Welter, 2013), and gender and technology ‐depen ‐ dent ventures (Marlow & McAdam, 2012). In addi ti on, this cluster includes publica ti ons which associate religious iden titi es with women en ‐ trepreneurs. Essers and Benschop (2009) explained how Moroccan and Turkish women entrepreneurs in the Netherlands cra ft their ethno ‐cultural iden ti ‐ ti es in rela ti on to their Muslim iden ti ty. A similar re ‐ ligious group was studied by Rehman and Roomi (2012), but in a di fferent geographical loca ti on (Pak ‐ istan). According to the research, major hurdles women face in achieving balance in a patriarchal Is ‐ lamic society are socio ‐cultural norms, mee ti ng fam ‐ ily commitments, and ensuring a healthy work ‐life balance (Kirkwood & Tootell, 2008; Eddleston & Powell, 2012), as well as masculinity (Lewis, 2006), which leads to hiding their gendered iden ti ty asso ‐ ciated with the business. Interes ti ngly, a few studies have discussed the future of women entrepreneurship. Hughes, Jen ‐ nings, Brush, Carter, and Welter (2012) argued that several studies focusing on women entrepreneurs highlight the problems faced by such entrepreneurs but do not indicate what the future holds for them. According to Hughes et al. (2012), describing pre ‐ cisely the new spheres for authors to inves ti gate will not only address the arguments raised thus far, but will also result in a broader and deeper comprehen ‐ sion of women’s entrepreneurship. Cluster 3 (Blue): Impact of Geographic Loca ti on on Women Entrepreneurship This cluster has 15 documents, in which the sci ‐ en ti fic publica ti ons shed light on how di fferent geo ‐ graphical loca ti ons impact the performance of ventures owned by women. The study by Baughn, Chua, and Neupert (2006) encompasses a number of countries (n = 38) to inves ti gate the impact of specific norms facilita ti ng women’s entrepreneur ‐ ship and the rela ti ve rates of women to men in ‐ volved in entrepreneurship in various countries. Another example is Jamali’s (2009) study, which brought a tt en ti on to the constraints faced and op ‐ portuni ti es available to women entrepreneurs in de ‐ veloping na ti ons. The cluster also contains publica ti ons pertain ‐ ing to specific na ti ons. Ce ti ndamar, Gupta, Karad ‐ eniz, and Egrican (2012) explored the impact of “human, family and financial capital” on women en ‐ trepreneurs in Turkey. Coad and Tamvada (2012) ac ‐ centuated the barriers faced by women entrepreneurs in India, and Manolova, Carter, Manev, and Gyoshev (2007) called to a tt en ti on the impact of the “human capital” of Bulgaria’s women entrepreneurs. Ramadani (2013, 2015) indicated the work done by women entrepreneurs in devel ‐ oping na ti ons such as Macedonia, Albania, and Kosovo. This cluster includes authors that have fo ‐ cused on developing na ti ons only. This gives a posi ‐ Dynamic Rela ti onships Management Journal, Vol. 11, No. 2, November 2022 Naira Fayaz, Sujata Khandai, Ivan Zupic, Avneet Kaur: Going Back to the Roots: A Bibliometric and Thema ti c Analysis of Women Entrepreneurship 108 ti ve outlook for na ti ons such as India. Because ac ‐ tual women entrepreneurship is growing in India (IBEF, 2022), so should the academic research, and this cluster is proof that this is the case. Cluster 4 (Yellow): Financial Struggles of Women Entrepreneurs The final cluster is the smallest, including just 10 scien ti fic publica ti ons. The major theme in this cluster is related to financing a business owned by women. Becker ‐Blease and Sohl (2007) discovered that although women entrepreneurs in the United States are more likely to receive angel investment for their ventures, they seek it at significantly lower rates than do men. In contrast, Eddleston, Ladge, Mi tt eness, and Balachandra (2016) found no di ffer ‐ ence in access to finance between women and men entrepreneurs. Eddleston et al. did not take into ac ‐ count any other source of finance other than bank loans, which could be the reason for this result. Woman ‐led ventures are less impac tf ul than male ‐ owned enterprises in terms of start ‐up financing, because women have less start ‐up capital, human resources, and prior work experience (Fairlie & Robb, 2009). Other studies in this cluster discussed the strategies to be applied in a woman ‐led business to make it successful (Gundry & Welsch, 2001), and women embarking upon an entrepreneurial journey a ft er breaking the glass ceiling (Ma tti s, 2004). 5 DISCUSSION AND CONCLUSION This research used bibliometric analysis to un ‐ derstand the trend in academic research related to women entrepreneurship. According to this study, the scien ti fic publica ti ons related to women en ‐ trepreneurship are increasing significantly each year. Our study takes into account research papers published through 2021. This is significant because a large number of ar ti cles on women entrepreneur ‐ ship were published a ft er 2020. There were 242 publica ti ons in 2021. Our study extracted four clus ‐ ters giving a broad picture of di fferent areas of con ‐ cern pertaining to women entrepreneurship. Among the four major clusters, the most signifi ‐ cant theme preferred by researchers across the globe is the role of gender in a venture’s perfor ‐ mance. The study used co ‐cita ti on analysis to exam ‐ ine the philosophical underpinnings of the most cited publica ti ons, and used bibliographic coupling to explore the similarity rela ti onship of research ar ‐ ti cles. We dis ti lled the insight of the academic schol ‐ ars who ar ti culated their viewpoints with cita ti ons using bibliometric methods. The most consistent keyword among the data set is “gender,” which is in agreement with the largest cluster extracted from bibliographic coupling. This finding is consistent with that of the study by Deng et al. (2020). The study also gives an overview of the trajec ‐ tory of research ar ti cles wri tt en over the years. The number of publica ti ons grew significantly a ft er 2005, and the maximum number of publica ti ons was reported in 2021. Publica ti ons prior to 2000 fo ‐ cused primarily on gender (Fischer, 1993; Cli ff, 1998) and work and family balance (Parasuraman, 1996). The base set in the earlier years of research could be the reason for the similar themes in the later years as well. In the recent past there have been publica ti ons on similar themes or topics (Sarfaraz, Faghih, & Majd, 2014; Adom & Anambane, 2019). A major shi ft in studies related to women en ‐ trepreneurship occurred a ft er 2010, with authors focusing more on challenges faced by (Deborah, Wilhelmina, Oyelana, & Ibrahim, 2015; Panda, 2018) and prospects available to (Garg & Agarwal, 2017) women entrepreneurs. This shi ft is visible be ‐ cause of women breaking the glass ceiling and the stereotype that women do not belong in the corpo ‐ rate world (Lathabhavan & Balasubramanian, 2017). The arti cles related to women entrepreneurship published in recent ti mes (2021 onward) take a di ‐ vergent route by focusing on specific industries (Ribeiro et al., 2021), developing na ti ons (Ogun ‐ dana, Simba, Dana, & Liguora, 2021), and sustain ‐ able development (Mahajan & Bandyopadhyay, 2021), to name a few. The trends observed in the area of women’s en ‐ trepreneurship were made more specific through the use of topic modeling. This analysis summarizes the topics under 12 headings, which contain content related to “a gender ‐based perspecti ve of en ‐ trepreneurship,” “skill enhancement through train ‐ ing and development,” and “challenges and prospects faced by women entrepreneurs” , to name a few. Dynamic Rela ti onships Management Journal, Vol. 11, No. 2, November 2022 109 This research resonates with the findings of Moreira, Marques, Braga, and Ra tt en (2019) to a certain extent; one cluster (role of gender) overlaps that of Moreira et al.’s “Epistemological posi ti on and gender.” However, the present research also di ffers from Moreira et al. regarding the most cited ar ti cle. The results of this study found Ahl (2006) to be the most cited ar ti cle, whereas in Moreira et al. (2019), Ahl (2006) was not even among the six most cited ar ti cles. This demonstrates Ahl’s (2006) notable in ‐ fluence, as well as the success of the gender turn in ‐ fluenced by feminist theory in recent ti mes. Furthermore, because co ‐cita ti on analyses evolve over ti me as addi ti onal studies are published with new cita ti on pa tt erns, it is logical to generate a co ‐ cita ti on analysis of the field on a regular basis. In ad ‐ di ti on to knowing which ar ti cle is cited the most, it is equally important to know which source or jour ‐ nal is publishing the most ar ti cles on women en ‐ trepreneurship. The Interna ti onal Journal of Gender and Entrepreneurship is the most prominent journal among the list available in terms of publishing ar ti ‐ cles on women entrepreneurship. The publica ti on count was 143, with 2,835 cita ti ons. Because the analysis found that “gender” is the most common keyword, the result for the source of publica ti on is jus ti fiable. The bibliographic coupling analysis revealed four clusters encompassing various aspects of women entrepreneurship. Cluster 1 is the largest cluster, and clearly indicates that for a long period the role of gender in entrepreneurship has re ‐ mained a topic of interest for various authors. The trend of gender ‐based studies is being associated with performance measurement (of ventures owned by women) studies, which is opening up new avenues for gender studies in general and women entrepreneurship in specific. Cluster 2 is the most promising cluster . Ar ti cles in this cluster are not only discussing challenges in financial terms (Panda, 2018), but also highligh ti ng more ‐contemporary is ‐ sues such as gender awareness and iden titi es, gen ‐ der and technology, and religious iden titi es (Brush et al., 2009; Garcia & Welter, 2013; Marlow & McAdam, 2012; Essers and Benschop, 2009). The trend in this cluster is that authors are aligning “gen ‐ der” with other variables to give a more holis ti c out ‐ look of women entrepreneurship. Bibliometric coupling also shows that much re ‐ search on women entrepreneurship is being con ‐ centrated in developing na ti ons (Baughn et al., 2006; Ce ti ndamar et al., 2012) because it o ft en is reported that women in these areas are forced into running a venture either because of financial prob ‐ lems (Baughn et al., 2006) or simply because they need to survive (Jamali, 2009). The pre ‐exis ti ng con ‐ di ti ons of such entrepreneurs are poor, and the pressure of earning a living to support their family puts them in a worse situa ti on. The final cluster of this research, although the smallest, s ti ll holds sig ‐ nificance. This cluster predominantly concerns the problems faced by women entrepreneurs in raising financing for their ventures. Women entrepreneurs are not easily trusted by funding agencies, because they are perceived as lacking in experience (Fairlie & Robb, 2009; Wellalage & Locke, 2017) in manag ‐ ing a business. However, the cluster also incorpo ‐ rates ar ti cles which show that women are climbing the corporate ladder (Salahuddin et al., 2021), thus showcasing the latent poten ti al of women. 5.1 Implica ti ons and Future Research Female entrepreneurs highlight their contribu ‐ ti ons as a key tool for future economic, social, and sustainable growth (Sajjad, Kaleem, Chani, & Ahmed, 2020). In the future, businesswomen around the world will look up to successful female entrepreneurs as role models (Al Mamun, Fazal, & Muniady, 2019). The present research establishes a base for aca ‐ demicians planning to conduct studies in a similar domain. Using bibliometric analysis, the research brings to a tt en ti on certain visible areas which have poten ti al for more research, including gender ‐based studies (Panda, 2018). The findings of this study sug ‐ gest that authors should include performance mea ‐ surement tools in gender ‐based studies. Mitchelmore and Rowley’s (2013) “Female En ‐ trepreneur Competence” framework provides a base for an ac ti on plan concentra ti ng on educa ti on and overall development of women entrepreneurs. Although this framework has been used in recent studies (e.g., Iskamto, Ghazali, & A ft hanorhan, 2020), there exists scope for more applica ti on. Dynamic Rela ti onships Management Journal, Vol. 11, No. 2, November 2022 Naira Fayaz, Sujata Khandai, Ivan Zupic, Avneet Kaur: Going Back to the Roots: A Bibliometric and Thema ti c Analysis of Women Entrepreneurship 110 This research summarizes approximately 1,500 articles in four clusters. This could help au ‐ thors in conducting qualitative studies focusing on a specific cluster. Publications in Cluster 2 high ‐ light the challenges faced by women en ‐ trepreneurs. The significance of this cluster is justified by number of recent publications (Isaga, 2018; Al ‐Kwifi, Tien Khoa, Ongsakul, & Ahmed, 2020). However, authors can narrow their focus to the challenges and issues faced by women in con ‐ flicted zones (political or economic) such as Kash ‐ mir in India, Iran, or Ukraine. A qualitative study conducted using in ‐depth interviews can bring to attention the harsh realities faced by women en ‐ trepreneurs in such politically unstable and war ‐ torn areas. The study concludes with articles focusing par ‐ ticularly on the troubles faced by women in secur ‐ ing additional funds or even seeking seed funding for their ventures. This is a point of concern at pre ‐ sent, because businesses in general are facing fi ‐ nancial difficulty (McLaughlin, 2022). The condition of women entrepreneurs is bound to worsen. The findings of this study can serve as a foundation for quantitative or qualitative studies focusing on what can be done to improve the fi ‐ nancial condition of women entrepreneurs not just in developing nations, but also in developed na ‐ tions. Studies focusing on the role of microfinance in entrepreneurship can benefit from the findings of Cluster 4. The results of this study also provide some insights for policy makers and bureaucrats. Coun ‐ tries may establish policies that support women entrepreneurs in terms of financial assistance (subsidies and rebates). This research can help governments to understand the problems that are faced by women entrepreneurs, and the so ‐ lutions they can provide to such entrepreneurs. Policy makers need to educate not only the women entrepreneurs, but their family members as well, in order to break the shackles. Using dig ‐ ital media or social media platforms, brands and governments can create a single platform for women entrepreneurs which can help them get in touch with other prospective entrepreneurs and impart to them necessary skills and knowl ‐ edge. 5.2 Limita ti ons and Conclusions The sample for the study was restricted to peer ‐ reviewed publica ti ons in English ‐language journals. As a result, a specific knowledge base was not taken into account. During the filtra ti on process, 96 ar ti ‐ cles could not be taken into considera ti on because of this criterion. Future studies can be conducted in collabora ti on with authors comfortable in languages other than English. This can add depth future stud ‐ ies. By broadening the language horizon not only can more studies be included in future research, but authors also can explore the cross ‐cultural aspect of entrepreneurship. The study is dependent on the data extracted from the Scopus database only. This is a limita ti on. Future studies can make use of other available databases such as the Web of Science for a more comprehensive study. In addi ti on, cita ti on analysis assigns a weight to a paper’s cita ti ons, and these weights are biased toward older ar ti cles, because those arti cles have a significantly greater number of cita ti ons than do recent publica ti ons. As a result, the bibliographic analyses may be biased in favor of older ar ti cles. In future research, authors can limit the search result to the number of cita ti ons (prefer ‐ ably less than 10). This automa ti cally will highlight the more recent ar ti cles. Our results also demonstrate that there has been limited scru ti ny of the role of social network or networking theories (Adler & Kwon, 2002; Na ‐ hapiet & Ghoshal, 1998) to inves ti gate the success of entrepreneurial firms. Future research could focus on how di fferent types of networks play sig ‐ nificant roles in di fferent entrepreneurial behaviors. 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