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Balanced skills among nascent entrepreneurs

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  • Michael Stuetzer

    ()

  • Martin Obschonka

    ()

  • Eva Schmitt-Rodermund

    ()

Abstract

This paper examines the effects and origins of balanced skills among nascent entrepreneurs. In a first step we apply Lazear’s jack-of-all-trades theory to investigate performance effects of a balanced skill set. Second, we investigate potential sources of balanced skills, thereby testing the investment hypothesis against the endowment hypothesis. Analyzing data on high-potential nascent projects, we find support for the notion that balanced skills are important for making progress in the venture creation process. Regarding the origins of balanced skills, the data support both hypotheses. In line with the investment hypothesis, an early interest in an entrepreneurial career, prior managerial and entrepreneurial experience are significantly related with a more balanced skill set. Supporting the endowment hypothesis, an entrepreneurial personality profile indicating entrepreneurial talent is correlated with a balanced skill set. Our results thus hint at the need for theories on the origins of a balanced skill set that integrate both views. Copyright Springer Science+Business Media, LLC. 2013

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Bibliographic Info

Article provided by Springer in its journal Small Business Economics.

Volume (Year): 41 (2013)
Issue (Month): 1 (June)
Pages: 93-114

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Handle: RePEc:kap:sbusec:v:41:y:2013:i:1:p:93-114

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Web page: http://www.springerlink.com/link.asp?id=100338

Related research

Keywords: Nascent entrepreneurship; Balanced skills; Human capital; New venture creation; Entrepreneurship; L26; M13; J24;

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Citations

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Cited by:
  1. Alina Sorgner & Michael Fritsch, 2013. "Occupational Choice and Self-Employment - Are They Related?," Jena Economic Research Papers 2013-001, Friedrich-Schiller-University Jena, Max-Planck-Institute of Economics.
  2. Martin Obschonka & Eva Schmitt-Rodermund & Rainer K. Silbereisen & Samuel D. Gosling & Jeff Potter, 2013. "The Regional Distribution and Correlates of an Entrepreneurship-Prone Personality Profile in the United States, Germany, and the United Kingdom: A Socioecological Perspective," SOEPpapers on Multidisciplinary Panel Data Research 550, DIW Berlin, The German Socio-Economic Panel (SOEP).
  3. Stuetzer, Michael & Obschonka, Martin & Brixy, Udo & Sternberg, Rolf & Cantner, Uwe, 2013. "Regional characteristics, opportunity perception and entrepreneurial activities," MPRA Paper 48277, University Library of Munich, Germany.
  4. Lechmann, Daniel S. J. & Schnabel, Claus, 2011. "Are the Self-Employed Really Jacks-of-All-Trades? Testing the Assumptions and Implications of Lazear's Theory of Entrepreneurship with German Data," IZA Discussion Papers 6157, Institute for the Study of Labor (IZA).
  5. Klaesson, Johan & Larsson, Johan P, 2014. "Education and Self-employment Propensity," Working Paper Series in Economics and Institutions of Innovation 345, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies.
  6. Stuetzer, Michael & Goethner, Maximilian & Cantner, Uwe, 2012. "Do balanced skills help nascent entrepreneurs to make progress in the venture creation process?," MPRA Paper 39115, University Library of Munich, Germany.
  7. Rosendahl Huber, Laura & Sloof, Randolph & van Praag, Mirjam, 2014. "Jacks-of-All-Trades? The Effect of Balanced Skills on Team Performance," IZA Discussion Papers 8237, Institute for the Study of Labor (IZA).
  8. Cho, In Soo & Orazem, Peter, 2013. "Are Nonprofit Entrepreneurs Also “Jacks-Of-All-Trades�," Staff General Research Papers 35750, Iowa State University, Department of Economics.
  9. Michael Stuetzer & Martin Obschonka & Per Davidsson & Eva Schmitt-Rodermund, 2013. "Where do entrepreneurial skills come from?," Applied Economics Letters, Taylor & Francis Journals, vol. 20(12), pages 1183-1186, August.
  10. Alina Sorgner, 2012. "A Physician With A Soul Of A Cook? Entrepreneurial Personality Across Occupations," Jena Economic Research Papers 2012-063, Friedrich-Schiller-University Jena, Max-Planck-Institute of Economics.
  11. Elisabeth Bublitz & Florian Noseleit, 2014. "The skill balancing act: when does broad expertise pay off?," Small Business Economics, Springer, vol. 42(1), pages 17-32, January.
  12. Simoes, Nadia & Moreira, Sandrina B. & Crespo, Nuno, 2013. "Individual Determinants of Self-Employment Entry – What Do We Really Know?," MPRA Paper 48403, University Library of Munich, Germany.
  13. Petra Moog & Arndt Werner & Stefan Houweling & Uschi Backes-Gellner, 2012. "The Impact of Balanced Skills, Working Time Allocation and Peer Effects on the Entrepreneurial Intentions of Scientists," Working Papers 325, University of Zurich, Department of Business Administration (IBW).
  14. Hessels, Jolanda & Brixy, Udo & Naudé, Wim & Gries, Thomas, 2014. "Skill Variety, Innovation and New Business Formation," IZA Discussion Papers 7889, Institute for the Study of Labor (IZA).
  15. Jolanda Hessels & Udo Brixy & Wim Naud� & Thomas Gries, 2014. "Skill Variety, Innovation and New Business Formation," Tinbergen Institute Discussion Papers 14-011/VII, Tinbergen Institute.

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