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Does individual performance affect entrepreneurial mobility Empirical evidence from the financial analysis market

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Author Info

  • Groysberg, Boris

    ()
    (Harvard Business School)

  • Nanda, Ashish

    ()
    (Harvard Law School)

  • Prats, M Julia

    ()
    (IESE)

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    Abstract

    Our paper contributes to the studies of the relationship between workers’ human capital and their decision to become self-employed as well as their probability to survive as entrepreneurs. Analysis from a panel dataset of research analysts in investment banks over 1988-1996 reveals that star analysts are more likely than non-star analysts to become entrepreneurs. Furthermore, we find that ventures started by star analysts have a higher probability of survival than ventures established by non-star analysts. Extending traditional theories of entrepreneurship and labor mobility, our results also suggest that drivers of turnover vary by destination: turnover to entrepreneurship and other turnover. In contrast to turnover to entrepreneurship, star analysts are less likely to move to other firms than non-star analysts.

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    File URL: http://www.capco.com/files/pdf/1094/02_Part%202/03_Does%20individual%20performance%20affect%20entrepreneurial%20mobility%20Empirical%20evidence%20from%20the%20financial%20analysis%20market.pdf
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    Bibliographic Info

    Article provided by Capco Institute in its journal Journal of Financial Transformation.

    Volume (Year): 25 (2009)
    Issue (Month): ()
    Pages: 95-106

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    Handle: RePEc:ris:jofitr:0832

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    Related research

    Keywords: Entrepreneurship; ability; professionals;

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    Cited by:
    1. Åstebro, Thomas & Chen, Jing, 2014. "The entrepreneurial earnings puzzle: Mismeasurement or real?," Journal of Business Venturing, Elsevier, vol. 29(1), pages 88-105.

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