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The Effects of Entrepreneurship Education

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  • Weber, Richard
  • Graevenitz, Georg von
  • Harhoff, Dietmar

Abstract

Entrepreneurship education ranks highly on policy agendas in Europe and the US, but little research is available to assess its impacts. In this context it is of primary importance to understand whether entrepreneurship education raises intentions to be entrepreneurial generally or whether it helps students determine how well suited they are for entrepreneurship. We develop a theoretical model of Bayesian learning in which entrepreneurship education generates signals which help students to evaluate their own aptitude for entrepreneurial tasks. We derive predictions from the model and test them using data from a compulsory entrepreneurship course at a German university. Using survey responses from 189 students ex ante and ex post, we find that entrepreneurial propensity declined somewhat in spite of generally good evaluations of the class. Our tests of Bayesian updating provide support for the notion that students receive valuable signals and learn about their own type in the entrepreneurship course.

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Bibliographic Info

Paper provided by University of Munich, Munich School of Management in its series Discussion Papers in Business Administration with number 10966.

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Date of creation: 08 Aug 2009
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Handle: RePEc:lmu:msmdpa:10966

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Keywords: entrepreneurship; entrepreneurship education; Bayes’ Rule; learning; signals;

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References

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Citations

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Cited by:
  1. Block, J.H. & Thurik, A.R. & van der Zwan, P.W. & Walter, S., 2010. "Business Takeover or New Venture? Individual and Environmental Determinants from a Cross-Country Study," ERIM Report Series Research in Management ERS-2010-042-ORG, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus Uni.
  2. Oliver Falck & Ludger Woessmann, 2010. "School Competition and Students' Entrepreneurial Intentions: International Evidence Using Historical Catholic Roots of Private Schooling," CESifo Working Paper Series 3086, CESifo Group Munich.
  3. Isidoro Romero & Raluca Mariana Petrescu & Alina Elena Balalia (Iosif), 2011. "Universities as Suppliers of Entrepreneurship Education Services. The Cases of The University of Seville and The Academy of Economic Studies in Bucharest," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 13(30), pages 347-361, June.
  4. Graevenitz, Georg von & Weber, Richard, 2011. "How to Educate Entrepreneurs?," Discussion Papers in Business Administration 12280, University of Munich, Munich School of Management.
  5. Michael Fritsch, 2011. "The effect of new business formation on regional development - Empirical evidence, interpretation, and avenues for further research," Jena Economic Research Papers 2011-006, Friedrich-Schiller-University Jena, Max-Planck-Institute of Economics.
  6. Michael Fritsch, 2011. "New Business Formation and Regional Development: A Survey and Assessment of the Evidence," Discussion Papers of DIW Berlin 1127, DIW Berlin, German Institute for Economic Research.
  7. Viktor Slavtchev & Stavroula Laspita & Holger Patzelt, 2012. "Effects of entrepreneurship education at universities," Jena Economic Research Papers 2012-025, Friedrich-Schiller-University Jena, Max-Planck-Institute of Economics.
  8. Laura Rosendahl Huber & Randolph Sloof & Mirjam van Praag, 2012. "The Effect of Early Entrepreneurship Education: Evidence from a Randomized Field Experiment," Tinbergen Institute Discussion Papers 12-041/3, Tinbergen Institute.
  9. Clara Cardone-Riportella & María José Casasola-Martinez & Isabel Feito-Ruiz, 2014. "Do Entrepreneurs Come From Venus Or Mars? Impact Of Postgraduate Studies: Gender And Family Business Background," Working Papers 14.04, Universidad Pablo de Olavide, Department of Financial Economics and Accounting (former Department of Business Administration).
  10. Martin, Bruce C. & McNally, Jeffrey J. & Kay, Michael J., 2013. "Examining the formation of human capital in entrepreneurship: A meta-analysis of entrepreneurship education outcomes," Journal of Business Venturing, Elsevier, vol. 28(2), pages 211-224.
  11. Caroline Rizza & Celeste Amorim Varum, 2011. "Directions in entrepreneurship education (EE) in Europe," Investigaciones de Economía de la Educación volume 6, in: Antonio Caparrós Ruiz (ed.), Investigaciones de Economía de la Educación 6, edition 1, volume 6, chapter 32, pages 517-538 Asociación de Economía de la Educación.
  12. Åstebro, Thomas & Bazzazian, Navid & Braguinsky, Serguey, 2012. "Startups by recent university graduates and their faculty: Implications for university entrepreneurship policy," Research Policy, Elsevier, vol. 41(4), pages 663-677.
  13. Joern H. Block & Lennart Hoogerheide & Roy Thurik, 2009. "Education and Entrepreneurial Choice: An Instrumental Variables Analysis," Tinbergen Institute Discussion Papers 09-088/4, Tinbergen Institute, revised 23 Nov 2010.
  14. Navid Bazzazian & Thomas Åstebro, 2011. "“Universities, Entrepreneurship and Local Economic Development'," ERSA conference papers ersa10p822, European Regional Science Association.

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