What Makes a Successful Entrepreneur? Evidence from Brazil

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What Makes a Successful Entrepreneur? Evidence from Brazil

Author Info

Simeon Djankov (the World Bank)
Yingyi Qian (UC Berkeley and CERP)
Gerard Roland (UC Berkeley and CEPR)
Ekaterina Zhuravskaya () (New Economic School/CEFIR and CEPR)

Additional information is available for the following registered author(s):

Abstract

We report the results of a new survey on entrepreneurship in Brazil. In September 2006, we interviewed 400 entrepreneurs and 550 non-entrepreneurs of the same age, gender, education and location in 7 Brazilian cities. The data are used to test three competing hypotheses on entrepreneurship: the role of economic and legal institutions (security of property rights; access to credit); the role of sociological characteristics (family background, social networks); and the role of individual features (attitude towards risk, I.Q., self-confidence) in becoming an entrepreneur. In line with our previous research in China and Russia, we find that sociological characteristics have the strongest influence on becoming an entrepreneur. In contrast, success as an entrepreneur is primarily determined by the individual’s smartness and higher education in the family. Entrepreneurs are not more self-confident than non-entrepreneurs; and overconfidence is bad for business success.

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Publisher Info
Paper provided by Center for Economic and Financial Research (CEFIR) in its series Working Papers with number w0104.

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Length: 23 pages
Date of creation: May 2007
Date of revision:
Handle: RePEc:cfr:cefirw:w0104

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This paper has been announced in the following NEP Reports:

NEP-ALL-2007-07-27 (All new papers)
NEP-BEC-2007-07-27 (Business Economics)
NEP-CNA-2007-07-27 (China)
NEP-EDU-2007-07-27 (Education)
NEP-ENT-2007-07-27 (Entrepreneurship)
NEP-HRM-2007-07-27 (Human Capital & Human Resource Management)
NEP-LAB-2007-07-27 (Labour Economics)
NEP-LAM-2007-07-27 (Central & South America)
NEP-SOC-2007-07-27 (Social Norms & Social Capital)

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

Simeon Djankov & Edward Miguel & Yingyi Qian & Gérard Roland & Ekaterina Zhuravskaya, 2005. "Who are Russia's Entrepreneurs?," Journal of the European Economic Association, MIT Press, vol. 3(2-3), pages 587-597, 04/05. [Downloadable!] (restricted)
Other versions:
- Simeon Djankov & Edward Miguel & Yingyi Qian & Gerard Roland & Ekaterina Zhuravskaya, 2005. "Who are Russia’s entrepreneurs?," Working Papers w0048, Center for Economic and Financial Research (CEFIR). [Downloadable!]
Edward P. Lazear, 2002. "Entrepreneurship," NBER Working Papers 9109, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
Other versions:
- Lazear, Edward P., 2003. "Entrepreneurship," IZA Discussion Papers 760, Institute for the Study of Labor (IZA). [Downloadable!]
Roland, Gerard & Verdier, Thierry, 2003. "Law enforcement and transition," European Economic Review, Elsevier, vol. 47(4), pages 669-685, August. [Downloadable!] (restricted)
Other versions:
- Roland, Gérard & Verdier, Thierry, 2000. "Law Enforcement and Transition," CEPR Discussion Papers 2501, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
- Gerard Roland & Thierry Verdier, 1999. "Law Enforcement and Transition," William Davidson Institute Working Papers Series 262, William Davidson Institute at the University of Michigan Stephen M. Ross Business School. [Downloadable!]
- Roland, G. & Verdier, T., 2000. "Law Enforcement and Transition," DELTA Working Papers 2000-25, DELTA (Ecole normale supérieure).
Jiahua Che & Yingyi Qian, 1998. "Insecure Property Rights And Government Ownership Of Firms," The Quarterly Journal of Economics, MIT Press, vol. 113(2), pages 467-496, May. [Downloadable!] (restricted)
Other versions:
- Jiahua Che & Yingyi Qian, 1997. "Insecure Property rights and Government Ownership of Firms," William Davidson Institute Working Papers Series 51, William Davidson Institute at the University of Michigan Stephen M. Ross Business School. [Downloadable!]
- Jiahua Che & Yingyi Qian, . "Insecure Property Rights and Government Ownership of Firms," Working Papers 97050, Stanford University, Department of Economics. [Downloadable!]
Simeon Djankov & Rafael La Porta & Florencio Lopez-De-Silanes & Andrei Shleifer, 2002. "The Regulation Of Entry," The Quarterly Journal of Economics, MIT Press, vol. 117(1), pages 1-37, February. [Downloadable!] (restricted)
Other versions:
- Simeon Djankov & Rafael La Porta & Florencio LopezdeSilanes & Andrei Shleifer, 2000. "The Regulation of Entry," NBER Working Papers 7892, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
- Simeon Djankov & Rafael La Porta & Florencio Lopez-de-Silanes & Andre Shleifer, 2000. "The Regulation of Entry," Harvard Institute of Economic Research Working Papers 1904, Harvard - Institute of Economic Research. [Downloadable!]
- Djankov, Simeon & La Porta, Rafael & Lopez-de-Silanes, Florencio & Shleifer, Andrei, 2001. "The Regulation of Entry," Working Paper Series rwp01-015, Harvard University, John F. Kennedy School of Government. [Downloadable!]
- Djankov, Simeon & La Porta, Rafael & Shleifer, Andrei & Lopez de Silanes, Florencio, 2001. "The regulation of entry," Policy Research Working Paper Series 2661, The World Bank. [Downloadable!]
- Djankov, Simeon & La Porta, Rafael & López-de-Silanes, Florencio & Shleifer, Andrei, 2001. "The Regulation of Entry," CEPR Discussion Papers 2953, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
Simon Johnson & John McMillan & Christopher Woodruff, 2002. "Property Rights and Finance," NBER Working Papers 8852, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
Other versions:
- Simon Johnson & John McMillan & Christopher Woodruff, 2002. "Property Rights and Finance," American Economic Review, American Economic Association, vol. 92(5), pages 1335-1356, December. [Downloadable!]
Besley, Timothy, 1995. "Property Rights and Investment Incentives: Theory and Evidence from Ghana," Journal of Political Economy, University of Chicago Press, vol. 103(5), pages 903-37, October. [Downloadable!] (restricted)
Banerjee, Abhijit V & Newman, Andrew F, 1993. "Occupational Choice and the Process of Development," Journal of Political Economy, University of Chicago Press, vol. 101(2), pages 274-98, April. [Downloadable!] (restricted)
Other versions:
- Abhijit V. Banerjee & Andrew F. Newman, 1990. "Occupational Choice and the Process of Development," Discussion Papers 911, Northwestern University, Center for Mathematical Studies in Economics and Management Science. [Downloadable!]
Frye, Timothy & Zhuravskaya, Ekaterina, 2000. "Rackets, Regulation, and the Rule of Law," Journal of Law, Economics and Organization, Oxford University Press, vol. 16(2), pages 478-502, October.
Other versions:
- Frye, Timothy & Zhuravskaya, Ekaterina, 2001. "Rackets, Regulation and the Rule of Law," CEPR Discussion Papers 2716, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
- Timothy Frye & Ekaterina Zhuravskaya, 2000. "Rackets, Regulation and the Rule of Law," Working Papers w0002, Center for Economic and Financial Research (CEFIR). [Downloadable!]
Rajkamal Iyer & Antoinette Schoar, 2008. "Are there Cultural Determinants of Entrepreneurship?," NBER Chapters, in: International Differences in Entrepreneurship National Bureau of Economic Research, Inc.

Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

Mizumoto, Fabio M. & Artes, Rinaldo & Lazzarini, Sergio G. & Hashimoto, Marcos & Bedê, Marco A., 2008. "O Impacto de Capital Humano, Capital Social e Práticas Gerenciais na Sobrevivência de Empresas Nascentes: um Estudo com Dados de Pequenas Empresas no Estado de São Paulo," Ibmec Working Papers wpe_113, Ibmec Working Paper, Ibmec São Paulo. [Downloadable!]

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