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This study evaluates whether the presence of a lone founder and family involvement impact private firms’ leverage differently from a methodological view. Using a sample of 4,102 private firms in Spain and taking under consideration a panel data structure from 2006 to 2013, we find that lone founder and family involvement matter in capital structure decisions and size shapes the forementioned influence. Our findings show that lone founder involvement always implies higher debt than the rest of firms and suggest that firms with genuine family involvement are significantly low debt companies.

Purpose The purpose of this paper is to determine how and why differences in gender affect entrepreneurial intention (EI). Although there are many studies in this area, scholars have yet to reach a consensus. Design/methodology/approach This study uses a survey of students at Malaga University in two stages to introduce a new perspective that links gender and university degree subject with the predisposition towards business creation. Structural equation modelling (SEM) is applied. Findings Comparing the explanatory power of an additive model and a multiplicative model, this paper confirms that socialisation conditions both men and women in their choice of university studies. Consequently, gender and university degree subject choice are shown to be linked and both affect EI. Research limitations/implications These findings provide a starting point for closing the information gap in the literature, but deeper analysis is required to combine other factors, such as international variations and the influence of different education systems on entrepreneurship. Practical implications These results are of special value to universities interested in fomenting entrepreneurship in their graduates, allowing them to better propose educational policies and communication campaigns reducing the effect of gender on degree choice. Originality/value The contribution of this research is the development of introducing university degree subjects as tied to gender. The study forms one construct together, and not a descriptive variable of the sample selected or as two independent exogenous variables, as is the case in most of the literature in this area.