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Gender differences in entrepreneurial choice and risk aversion -- a decomposition based on a microeconometric model

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  • Frank M. Fossen

Abstract

Why are female entrepreneurs so rare? In Germany, women exhibit both a lower entry rate into and higher exit rate from self-employment. To explain this gender gap, this study estimates a structural microeconometric model of transition rates that includes a standard risk aversion parameter. Inputs into the model are the expected value and variance of earnings from self-employment and dependent employment, estimated separately by gender and accounting for nonrandom selection into self-employment. The gender differential in the transition rates is decomposed using a novel extension of the Blinder--Oaxaca technique for nonlinear models. Women's higher estimated risk aversion explains the largest part of their higher exit rate but only a small portion of their lower entry rate.

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File URL: http://hdl.handle.net/10.1080/00036846.2011.554377
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Bibliographic Info

Article provided by Taylor & Francis Journals in its journal Applied Economics.

Volume (Year): 44 (2012)
Issue (Month): 14 (May)
Pages: 1795-1812

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Handle: RePEc:taf:applec:44:y:2012:i:14:p:1795-1812

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Cited by:
  1. Lechmann, Daniel S. J., 2013. "Can working conditions explain the return-to-entrepreneurship puzzle?," Discussion Papers 86, Friedrich-Alexander-University Erlangen-Nuremberg, Chair of Labour and Regional Economics.
  2. Caliendo, Marco & Fossen, Frank M. & Kritikos, Alexander S., 2011. "Personality Characteristics and the Decision to Become and Stay Self-Employed," IZA Discussion Papers 5566, Institute for the Study of Labor (IZA).
  3. Parker, Simon C., 2013. "Do serial entrepreneurs run successively better-performing businesses?," Journal of Business Venturing, Elsevier, vol. 28(5), pages 652-666.

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