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Does Individual Performance Affect Entrepreneurial Mobility? Empirical Evidence from the Financial Analysis Market

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Author Info
Boris Groysberg
Ashish Nanda
M. Julia Prats
Abstract

Our paper contributes to the studies on the relationship between workers' human capital and their decision to become self-employed as well as their probability to survive as entrepreneurs. Analysis from a panel data set of research analysts in investment banks over 1988-1996 reveals that star analysts are more likely than non-star analysts to become entrepreneurs. Furthermore, we find that ventures started by star analysts have a higher probability of survival than ventures established by non-star analysts. Extending traditional theories of entrepreneurship and labor mobility, our results also suggest that drivers of turnover vary by destination: (a) turnover to entrepreneurship and (b) other turnover. In contrast to turnover to entrepreneurship, star analysts are less likely to move to other firms than non-star analysts.

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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 13633.

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Date of creation: Nov 2007
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Handle: RePEc:nbr:nberwo:13633

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Find related papers by JEL classification:
J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
J4 - Labor and Demographic Economics - - Particular Labor Markets
J6 - Labor and Demographic Economics - - Mobility, Unemployment, and Vacancies
J63 - Labor and Demographic Economics - - Mobility, Unemployment, and Vacancies - - - Turnover; Vacancies; Layoffs

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    Other versions:
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  14. Sherwin Rosen, 1982. "Authority, Control, and the Distribution of Earnings," Bell Journal of Economics, The RAND Corporation, vol. 13(2), pages 311-323, Autumn. [Downloadable!] (restricted)
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