The return-to-entrepreneurship puzzle
AbstractThe returns to entrepreneurship are monetary and non-monetary. We offer new evidence on these returns using a large sample of male twins. Our within-twin analysis suggests that OLS estimates are downwards, and panel data estimates upwards biased. The within-twin estimates imply that entrepreneurs earn a negative earnings premium. Our within-twin analysis of non-monetary returns shows that entrepreneurs work longer hours and have greater responsibilities, but also have a greater control over their work.
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Bibliographic InfoArticle provided by Elsevier in its journal Labour Economics.
Volume (Year): 20 (2013)
Issue (Month): C ()
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Web page: http://www.elsevier.com/locate/labeco
Entrepreneurship; Earnings; Twin data; Monetary returns; Non-monetary returns; Selection;
Other versions of this item:
- Hyytinen, Ari & Ilmakunnas, Pekka & Toivanen, Otto, 2011. "The return-to-entrepreneurship puzzle," MPRA Paper 30076, University Library of Munich, Germany.
- Hyytinen, Ari & Ilmakunnas, Pekka & Toivanen, Otto, 2011. "The return-to-entrepreneurship puzzle," Open Access publications from Katholieke Universiteit Leuven urn:hdl:123456789/304828, Katholieke Universiteit Leuven.
- L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
- J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
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