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Social Capital and the Uncertainty Reduction of Self-Employment

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Author Info

  • Pfann, Gerard A.

    ()
    (Maastricht University)

  • Blumberg, Boris F.

    (affiliation not available)

Abstract

We study the self-employed decision and its relation to human and social capital. Human capital is necessary to acquire skills. Social capital dampens the effects of uncertainty about future income. Our data set consists of 1339 respondents from the same age group, who were interviewed three times in life in 1957, 1983 and 1993. The self-employment probability equals 155 and peaks between ages 24 and 26. Duration analysis shows that social capital is the most important resource for self-employment.

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Bibliographic Info

Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 303.

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Length: 45 pages
Date of creation: Jun 2001
Date of revision:
Handle: RePEc:iza:izadps:dp303

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Keywords: Self-employment; social capital; human capital; event history;

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References

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  1. Dunn, Thomas & Holtz-Eakin, Douglas, 2000. "Financial Capital, Human Capital, and the Transition to Self-Employment: Evidence from Intergenerational Links," Journal of Labor Economics, University of Chicago Press, University of Chicago Press, vol. 18(2), pages 282-305, April.
  2. Pfann, Gerard A., 2000. "Options to Quit," IZA Discussion Papers 197, Institute for the Study of Labor (IZA).
  3. Lindh, Thomas & Ohlsson, Henry, 1996. "Self-Employment and Windfall Gains: Evidence from the Swedish Lottery," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 106(439), pages 1515-26, November.
  4. Douglas Holtz-Eakin & David Joulfaian & Harvey S. Rosen, 1993. "Entrepreneurial Decisions and Liquidity Constraints," NBER Working Papers 4526, National Bureau of Economic Research, Inc.
  5. Holtz-Eakin, Douglas & Joulfaian, David & Rosen, Harvey S, 1994. "Sticking It Out: Entrepreneurial Survival and Liquidity Constraints," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 102(1), pages 53-75, February.
  6. Evans, David S & Jovanovic, Boyan, 1989. "An Estimated Model of Entrepreneurial Choice under Liquidity Constraints," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 97(4), pages 808-27, August.
  7. Gerrit de Wit & Niels Bosma & Mirjam van Praag, 2000. "Determinants of Successful Entrepreneurship," Scales Research Reports, EIM Business and Policy Research H200002, EIM Business and Policy Research.
  8. Bates, Timothy, 1990. "Entrepreneur Human Capital Inputs and Small Business Longevity," The Review of Economics and Statistics, MIT Press, vol. 72(4), pages 551-59, November.
  9. Evans, David S & Leighton, Linda S, 1989. "Some Empirical Aspects of Entrepreneurship," American Economic Review, American Economic Association, American Economic Association, vol. 79(3), pages 519-35, June.
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  11. Taylor, Mark P, 1996. "Earnings, Independence or Unemployment: Why Become Self-Employed?," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 58(2), pages 253-66, May.
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  13. Jovanovic, Boyan & Lach, Saul, 1989. "Entry, Exit, and Diffusion with Learning by Doing," American Economic Review, American Economic Association, American Economic Association, vol. 79(4), pages 690-99, September.
  14. De Wit, G. & Winden, F., 1989. "An Empirical Analysis Of Self-Employment In The Netherlands," Papers, NEUHUYS - RESEARCH INSTITUTE FOR SMALL AND MEDIUM 89.02, NEUHUYS - RESEARCH INSTITUTE FOR SMALL AND MEDIUM.
  15. Blanchflower, D.G. & Oswald, A., 1991. "What Makes an Entrepreneur?," Economics Series Working Papers 99125, University of Oxford, Department of Economics.
  16. Bernard F. Lentz & David N. Laband, 1990. "Entrepreneurial Success and Occupational Inheritance among Proprietors," Canadian Journal of Economics, Canadian Economics Association, vol. 23(3), pages 563-79, August.
  17. Rees, Hedley & Shah, Anup, 1986. "An Empirical Analysis of Self-employment in the U.K," Journal of Applied Econometrics, John Wiley & Sons, Ltd., John Wiley & Sons, Ltd., vol. 1(1), pages 95-108, January.
  18. Bruderl, Josef & Preisendorfer, Peter, 1998. " Network Support and the Success of Newly Founded Businesses," Small Business Economics, Springer, Springer, vol. 10(3), pages 213-25, May.
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Citations

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Cited by:
  1. Claudio Michelacci & Olmo Silva, 2005. "Why So Many Local Entrepreneurs?," Working Papers, CEMFI wp2005_0506, CEMFI.
  2. Markus Kinateder, 2009. "Team Formation in a Network," Working Papers, Fondazione Eni Enrico Mattei 2009.36, Fondazione Eni Enrico Mattei.
  3. Kim, Byung-Yeon & Kang, Youngho, 2014. "Social capital and entrepreneurial activity: A pseudo-panel approach," Journal of Economic Behavior & Organization, Elsevier, Elsevier, vol. 97(C), pages 47-60.

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