C. Mirjam van Praag () (Faculty of Economics and Econometrics, Universiteit van Amsterdam) Justen van der Sluis () (Faculty of Economics and Econometrics, Universiteit van Amsterdam) Arjen van Witteloostuijn () (University Groningen, and University of Durham)
Abstract
In the management literature, the locus-of-control concept has been applied extensively over the past three decades. This research note reports the results of a panel data study among a representative sample of 6,111 US young citizens who have been interviewed on a regular basis over a period of about two decades. In addition to this, various relevant personality traits and parental background characteristics have been administered before the first wave and before these young people started working. By analyzing this panel dataset, we offer three contributions to the locus-of-control literature. First, we test for the robustness of the locus-of-control effect on individual performance (in terms of hourly earnings) in the context of this impressive panel data context. Second, we explore whether or not the performance impact of the locus-of-control personality trait is different for employees vis-à-vis entrepreneurs. Third, we check whether the performance effect of an individual’s locus-of-control score interacts with her or his level of education. Our findings reveal that internality affects earnings positively, that this effect is stronger for entrepreneurs, and that education positively interacts with internality.
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