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Determinants of self-employment by new PhDs

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  • Robert M. Feinberg

Abstract

Using 16 years of NSF data, we explore determinants of self-employment by new PhDs in the US, considering the role of field of study, demographics, and a factor that has gotten much attention in recent years (though in different contexts) – the role of student debt. While a small share of the population, one would think that young doctoral recipients are an especially innovative group, and perhaps likely candidates for entrepreneurial activities. After controlling for field and demographics and quality of doctoral institution, we find some evidence consistent with an impact of student debt, especially the more exogenous undergraduate debt, in limiting the choice of self-employment as an immediate career path post-graduate school. This effect, however, is limited to graduates of schools below the most elite.

Suggested Citation

  • Robert M. Feinberg, 2022. "Determinants of self-employment by new PhDs," Applied Economics Letters, Taylor & Francis Journals, vol. 29(19), pages 1771-1775, November.
    • Handle: RePEc:taf:apeclt:v:29:y:2022:i:19:p:1771-1775
    DOI: 10.1080/13504851.2021.1962504
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