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Balanced skills among nascent entrepreneurs

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  • Stuetzer, Michael
  • Obschonka, Martin
  • Schmitt-Rodermund, Eva

Abstract

This paper examines the effects and origins of balanced skills among nascent entrepreneurs. In a first step we apply Lazear’s jack-of-all-trades theory to investigate performance effects of a balanced skill set. Second, we investigate potential sources of balanced skills, thereby testing the investment hypothesis against the endowment hypothesis. Analyzing data on high-potential nascent projects, we find support for the notion that balanced skills are important for making progress in the venture creation process. Regarding the origins of balanced skills, the data support both hypotheses. In line with the investment hypothesis an early interest in an entrepreneurial career, prior managerial and entrepreneurial experience are significantly related with a more balanced skill set. Supporting the endowment hypothesis, an entrepreneurial personality profile indicating entrepreneurial talent is correlated with a balanced skill set. Our results thus hint at the need for theories on the origins of a balanced skill set that integrate both views.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 37524.

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Date of creation: 01 Feb 2012
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Handle: RePEc:pra:mprapa:37524

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Keywords: Nascent entrepreneurship; balanced skills; human capital; new venture creation; entrepreneurship;

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References

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Citations

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Cited by:
  1. Stuetzer, Michael & Obschonka, Martin & Brixy, Udo & Sternberg, Rolf & Cantner, Uwe, 2013. "Regional characteristics, opportunity perception and entrepreneurial activities," MPRA Paper 48277, University Library of Munich, Germany.
  2. Stuetzer, Michael & Obschonka, Martin & Davidsson, Per & Schmitt-Rodermund, Eva, 2013. "Where do entrepreneurial skills come from?," MPRA Paper 48274, University Library of Munich, Germany.
  3. Martin Obschonka & Eva Schmitt-Rodermund & Rainer K. Silbereisen & Samuel D. Gosling & Jeff Potter, 2013. "The Regional Distribution and Correlates of an Entrepreneurship-Prone Personality Profile in the United States, Germany, and the United Kingdom: A Socioecological Perspective," SOEPpapers on Multidisciplinary Panel Data Research 550, DIW Berlin, The German Socio-Economic Panel (SOEP).
  4. Simoes, Nadia & Moreira, Sandrina B. & Crespo, Nuno, 2013. "Individual Determinants of Self-Employment Entry – What Do We Really Know?," MPRA Paper 48403, University Library of Munich, Germany.
  5. Daniel Lechmann & Claus Schnabel, 2014. "Are the self-employed really jacks-of-all-trades? Testing the assumptions and implications of Lazear’s theory of entrepreneurship with German data," Small Business Economics, Springer, Springer, vol. 42(1), pages 59-76, January.
  6. Hessels, Jolanda & Brixy, Udo & Naudé, Wim & Gries, Thomas, 2014. "Skill Variety, Innovation and New Business Formation," IZA Discussion Papers 7889, Institute for the Study of Labor (IZA).
  7. Petra Moog & Arndt Werner & Stefan Houweling & Uschi Backes-Gellner, 2012. "The Impact of Balanced Skills, Working Time Allocation and Peer Effects on the Entrepreneurial Intentions of Scientists," Working Papers, University of Zurich, Department of Business Administration (IBW) 325, University of Zurich, Department of Business Administration (IBW).
  8. Cho, In Soo & Orazem, Peter, 2013. "Are Nonprofit Entrepreneurs Also “Jacks-Of-All-Trades�," Staff General Research Papers, Iowa State University, Department of Economics 35750, Iowa State University, Department of Economics.
  9. Jolanda Hessels & Udo Brixy & Wim Naudé & Thomas Gries, 2014. "Skill Variety, Innovation and New Business Formation," Tinbergen Institute Discussion Papers, Tinbergen Institute 14-011/VII, Tinbergen Institute.
  10. Rosendahl Huber, Laura & Sloof, Randolph & van Praag, Mirjam C., 2014. "Jacks-of-All-Trades? The Effect of Balanced Skills on Team Performance," IZA Discussion Papers 8237, Institute for the Study of Labor (IZA).
  11. Alina Sorgner, 2012. "A Physician With A Soul Of A Cook? Entrepreneurial Personality Across Occupations," Jena Economic Research Papers, Friedrich-Schiller-University Jena, Max-Planck-Institute of Economics 2012-063, Friedrich-Schiller-University Jena, Max-Planck-Institute of Economics.
  12. Alina Sorgner & Michael Fritsch, 2013. "Occupational Choice and Self-Employment - Are They Related?," Jena Economic Research Papers, Friedrich-Schiller-University Jena, Max-Planck-Institute of Economics 2013-001, Friedrich-Schiller-University Jena, Max-Planck-Institute of Economics.
  13. Klaesson, Johan & Larsson, Johan P, 2014. "Education and Self-employment Propensity," Working Paper Series in Economics and Institutions of Innovation, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies 345, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies.
  14. Elisabeth Bublitz & Florian Noseleit, 2014. "The skill balancing act: when does broad expertise pay off?," Small Business Economics, Springer, Springer, vol. 42(1), pages 17-32, January.
  15. Stuetzer, Michael & Goethner, Maximilian & Cantner, Uwe, 2012. "Do balanced skills help nascent entrepreneurs to make progress in the venture creation process?," Economics Letters, Elsevier, Elsevier, vol. 117(1), pages 186-188.

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