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Are Young and Small Firms Hothouses for Nascent Entrepreneurs? Evidence from German Micro Data

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Author Info
Wagner, Joachim () (University of Lueneburg, HWWA and IZA Bonn)

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Abstract

Using a large recent representative sample of the German population this paper contributes to the entrepreneurship literature by empirically testing the hypothesis that young and small firms are hothouses for nascent entrepreneurs. The empirical estimation takes the rare events nature of becoming a nascent entrepreneur and the regional stratification of the sample into account. Controlling for various individual characteristics and attitudes (sex, age, risk aversion, presence of a role model in the family, and the width of professional background) we illustrate both the statistical significance and the economic importance for entrepreneurship of work experience in a firm that is both young and small.

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Publisher Info
Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 989.

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Length: 16 pages
Date of creation: Jan 2004
Date of revision:
Handle: RePEc:iza:izadps:dp989

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Related research
Keywords: entrepreneurship; young and small firms; rare events logit; Germany;

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Find related papers by JEL classification:
J23 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Demand
R12 - Urban, Rural, and Regional Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)

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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.:
  1. Jondeau, Eric & Rockinger, Michael, 2003. "User's guide," Journal of Economic Dynamics and Control, Elsevier, vol. 27(10), pages 1739-1742, August. [Downloadable!] (restricted)
  2. Blanchflower, David G & Meyer, Bruce D, 1994. " A Longitudinal Analysis of the Young Self-Employed in Australia and the United States," Small Business Economics, Springer, vol. 6(1), pages 1-19, February.
  3. Lazear, Edward P., 2003. "Entrepreneurship," IZA Discussion Papers 760, Institute for the Study of Labor (IZA). [Downloadable!]
  4. Gary King & Langche Zeng, 2001. "Explaining Rare Events in International Relations," International Organization, MIT Press, vol. 55(3), pages 693-715, September. [Downloadable!] (restricted)
    Other versions:
  5. Paul Reynolds & David Storey & Paul Westhead, 1994. "Cross-national Comparisons of the Variation in New Firm Formation Rates," Regional Studies, Taylor and Francis Journals, vol. 28(4), pages 443-456, July. [Downloadable!] (restricted)
  6. Beesley, M E & Hamilton, R T, 1984. "Small Firms' Seedbed Role and the Concept of Turbulence," Journal of Industrial Economics, Blackwell Publishing, vol. 33(2), pages 217-31, December. [Downloadable!] (restricted)
  7. Evans, David S & Leighton, Linda S, 1989. "Some Empirical Aspects of Entrepreneurship," American Economic Review, American Economic Association, vol. 79(3), pages 519-35, June. [Downloadable!] (restricted)
  8. David Audretsch & Michael Fritsch, 1994. "The Geography of Firm Births in Germany," Regional Studies, Taylor and Francis Journals, vol. 28(4), pages 359-365, July. [Downloadable!] (restricted)
  9. Catherine Armington & Zoltan J. Acs, 2002. "The Determinants of Regional Variation in New Firm Formation," Regional Studies, Taylor and Francis Journals, vol. 36(1), pages 33-45, February. [Downloadable!] (restricted)
  10. Evans, David S & Jovanovic, Boyan, 1989. "An Estimated Model of Entrepreneurial Choice under Liquidity Constraints," Journal of Political Economy, University of Chicago Press, vol. 97(4), pages 808-27, August. [Downloadable!] (restricted)
  11. Kihlstrom, Richard E & Laffont, Jean-Jacques, 1979. "A General Equilibrium Entrepreneurial Theory of Firm Formation Based on Risk Aversion," Journal of Political Economy, University of Chicago Press, vol. 87(4), pages 719-48, August. [Downloadable!] (restricted)
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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.)

  1. John Armour & Douglas Cumming, 2005. "Bankruptcy Law and Entrepreneurship," ESRC Centre for Business Research - Working Papers wp300, ESRC Centre for Business Research. [Downloadable!]
    Other versions:
  2. Guido Buenstorf, 2006. "Evolution on the Shoulders of Giants: Entrepreneurship and Firm Survival in the German Laser Industry," Papers on Economics and Evolution 2005-20, Max Planck Institute of Economics, Evolutionary Economics Group.
    Other versions:
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