Social scientists studying the determinants of entrepreneurship have emphasized three distinct perspectives: the role of institutions, the role of social networks and the role of personal characteristics. We conduct a survey from five large developing and transition economies to better understand entrepreneurship in view of these three perspectives. Using data from a pilot study with over 2,000 interviews in 7 cities across China, we find that controlling for institutional environment entrepreneurs in China are much more likely to have family members who are entrepreneurs as well as childhood friends who became entrepreneurs, suggesting that social environment plays an important role in entrepreneurship. Entrepreneurs also differ strongly from non-entrepreneurs in their attitudes toward risks and their work-leisure preferences, echoing Schumpeter. Finally, failed entrepreneurs score the worst on aptitude tests, but have the best self-reported performance in school and perceive the business environment as least favourable.
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Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number
5706.
Simeon Djankov & Yingyi Qian & Gerard Roland & Ekaterina Zhuravskaya, 2005.
"Who Are China’s Entrepreneurs?,"
Working Papers
w0047, Center for Economic and Financial Research (CEFIR).
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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).
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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.
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Simeon Djankov & Rafael La Porta & Florencio LopezdeSilanes & Andrei Shleifer, 2000.
"The Regulation of Entry,"
NBER Working Papers
7892, National Bureau of Economic Research, Inc.
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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.
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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.
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Simon Johnson & John McMillan & Christopher Woodruff, 2002.
"Property Rights and Finance,"
NBER Working Papers
8852, National Bureau of Economic Research, Inc.
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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.
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