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Entrepreneurship: Origins and returns

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  • Berglann, Helge
  • Moen, Espen R.
  • Røed, Knut
  • Skogstrøm, Jens Fredrik

Abstract

We examine the origins and outcome of entrepreneurship on the basis of exceptionally comprehensive Norwegian matched worker-firm-owner data. In contrast to most existing studies, our notion of entrepreneurship not only comprises self-employment, but also employment in partly self-owned limited liability companies. Based on this extended entrepreneurship concept, we find that entrepreneurship tends to be profitable. It also raises income variability, but the most successful quartile gains much more than the least successful quartile loses. Key determinants of the decision to become an entrepreneur are occupational qualifications, family resources, gender, and work environments. Individual unemployment encourages, while aggregate unemployment discourages, entrepreneurship.

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Bibliographic Info

Article provided by Elsevier in its journal Labour Economics.

Volume (Year): 18 (2011)
Issue (Month): 2 (April)
Pages: 180-193

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Handle: RePEc:eee:labeco:v:18:y:2011:i:2:p:180-193

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Web page: http://www.elsevier.com/locate/labeco

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Keywords: Entrepreneurship Self-employment Spin-offs;

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References

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  1. HansK. Hvide, 2009. "The Quality of Entrepreneurs," Economic Journal, Royal Economic Society, vol. 119(539), pages 1010-1035, 07.
  2. Hyytinen, Ari & Maliranta, Mika, 2006. "When Do Employees Leave Their Job for Entrepreneurship: Evidence from Linked Employer-Employee Data," Discussion Papers 1023, The Research Institute of the Finnish Economy.
  3. Paul Gompers & Josh Lerner & David Scharfstein, 2005. "Entrepreneurial Spawning: Public Corporations and the Genesis of New Ventures, 1986 to 1999," Journal of Finance, American Finance Association, vol. 60(2), pages 577-614, 04.
  4. Justin van der Sluis & Mirjam van Praag & Wim Vijverberg, 2008. "Education And Entrepreneurship Selection And Performance: A Review Of The Empirical Literature," Journal of Economic Surveys, Wiley Blackwell, vol. 22(5), pages 795-841, December.
  5. Schumpeter, Joseph A., 1947. "The Creative Response in Economic History," The Journal of Economic History, Cambridge University Press, vol. 7(02), pages 149-159, November.
  6. Santarelli, Enrico & Vivarelli, Marco, 2006. "Entrepreneurship and the Process of Firms’ Entry, Survival and Growth," IZA Discussion Papers 2475, Institute for the Study of Labor (IZA).
  7. C. Mirjam van Praag & Peter H. Versloot, 2007. "What is the Value of Entrepreneurship? A Review of Recent Research," Tinbergen Institute Discussion Papers 07-066/3, Tinbergen Institute.
  8. Raaum Oddbjørn & Bratsberg Bernt & Røed Knut & Österbacka Eva & Eriksson Tor & Jäntti Markus & Naylor Robin A, 2008. "Marital Sorting, Household Labor Supply, and Intergenerational Earnings Mobility across Countries," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 7(2), pages 1-49, January.
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  13. Parker,Simon C., 2004. "The Economics of Self-Employment and Entrepreneurship," Cambridge Books, Cambridge University Press, number 9780521828130, April.
  14. Steven Klepper & Sally Sleeper, 2005. "Entry by Spinoffs," Management Science, INFORMS, vol. 51(8), pages 1291-1306, August.
  15. Hellmann, Thomas F., 2002. "When Do Employees Become Entrepreneurs?," Research Papers 1770, Stanford University, Graduate School of Business.
  16. Murat F. Iyigun & Ann L. Owen, 1997. "Risk, entrepreneurship and human capital accumulation," Finance and Economics Discussion Series 1997-37, Board of Governors of the Federal Reserve System (U.S.).
  17. von Greiff, Jenny, 2009. "Displacement and self-employment entry," Labour Economics, Elsevier, vol. 16(5), pages 556-565, October.
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Citations

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Cited by:
  1. Braunerhjelm, Pontus & Broström, Anders & Åstebro, Thomas, 2012. "Does Academic Entrepreneurship Pay?," Working Paper Series in Economics and Institutions of Innovation 289, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies.
  2. Lionel Désiage, 2010. "What are Entrepreneurs’ Objectives When Starting a New Business?," TEPP Working Paper 2010-06, TEPP.
  3. Vera Rocha & Anabela Carneiro & Celeste Amorim Varum, 2013. "Entrepreneurship Dynamics: Entry Routes, Business-Owner's Persistence and Exit Modes," CEF.UP Working Papers 1310, Universidade do Porto, Faculdade de Economia do Porto.
  4. Gohmann, Stephan F. & Fernandez, Jose M., 2014. "Proprietorship and unemployment in the United States," Journal of Business Venturing, Elsevier, vol. 29(2), pages 289-309.
  5. Hyytinen, Ari & Ilmakunnas, Pekka & Toivanen, Otto, 2011. "The return-to-entrepreneurship puzzle," MPRA Paper 30076, University Library of Munich, Germany.
  6. Joanna Nestorowicz & Joanna Tyrowicz, 2013. "Ethnic Competition or Complementarity: Which Drives (Returns to) Self-employment?," Working Papers 2013-15, Faculty of Economic Sciences, University of Warsaw.
  7. Peter Chinloy & Daniel Winkler, 2012. "Contracts, Individual Revenue and Performance," Journal of Labor Research, Springer, vol. 33(4), pages 545-562, December.
  8. Amanor-Boadu, Vincent, 2013. "Diversification Decisions in Agriculture: The Case of Agritourism in Kansas," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association (IAMA), vol. 16(2).
  9. Åstebro, Thomas & Chen, Jing, 2014. "The entrepreneurial earnings puzzle: Mismeasurement or real?," Journal of Business Venturing, Elsevier, vol. 29(1), pages 88-105.
  10. Røed, Knut & Skogstrøm, Jens Fredrik, 2013. "Unemployment Insurance and Entrepreneurship," IZA Discussion Papers 7121, Institute for the Study of Labor (IZA).
  11. Baltzopoulos, Apostolos & Braunerhjelm, Pontus & Tikoudis, Ioannis, 2012. "Spin-off: Individual, Firm, Industry and Regional Determinants," Working Paper Series in Economics and Institutions of Innovation 265, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies.

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