Study charts women-led business influence in Mass.

A study out today found that women-led businesses in Massachusetts are strong engines of economic growth, and the study's authors said the findings debunk myths about women leaders and risk-taking.

The study is from Babson College and the Commonwealth Institute, a Boston-based nonprofit organization founded by women entrepreneurs.

Titled "The Top Woman-Led Businesses in Massachusetts: 2006 Results," the study noted that over 60 percent of the state's woman-led firms grew by more than 5 percent in 2006, in contrast to the statewide average for all firms of 3.3 percent.

Contrary to the perception that women tend to run lifestyle or retail businesses, the study found woman chief executives in every sector of the state economy.

Debunking the myth that women business leaders are risk-averse, women chief executives in Massachusetts are proactive and inclined to make bold decisions, the study's authors said.

Among the largest woman-led businesses in Massachusetts are Cumberland Farms Inc., Millennium Pharmaceuticals Inc., and Axcelis Technologies, the study's authors said.
(By Chris Reidy, Globe staff)