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Two are better than one: Cortisol as a contingency in the association between epinephrine and self-employment

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  • Wolfe, Marcus T.
  • Patel, Pankaj C.

Abstract

In the context of self-employment, which is characterized by risk and uncertainty, epinephrine could elicit a “fight or flight” response. However, little attention has been given to what factors could differentiate those who ‘fight’ (i.e. pursue self-employment) versus those who ‘fly’ (i.e. forgo pursuing self-employment). Moving from individual and social explanations on drivers of self-employment as an occupational choice, we propose that the association between epinephrine and self-employment could be conditional on levels of a second hormone, namely cortisol. Based on a sample of 273 individuals from the Midlife in the United States (MIDUS 2) study, 2004–2006, and controlling for a wide variety of factors, epinephrine is not associated with self-employment on its own, however, it is associated with self-employment at low levels of cortisol. We are among the first to demonstrate a link between the dual influence of epinephrine and cortisol and self-employment.

Suggested Citation

  • Wolfe, Marcus T. & Patel, Pankaj C., 2017. "Two are better than one: Cortisol as a contingency in the association between epinephrine and self-employment," Journal of Business Venturing Insights, Elsevier, vol. 8(C), pages 78-86.
    • Handle: RePEc:eee:jobuve:v:8:y:2017:i:c:p:78-86
    DOI: 10.1016/j.jbvi.2017.07.002
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    Cited by:

    1. Daniel L. Bennett & Boris Nikolaev, 2021. "Historical Disease Prevalence, Cultural Values, and Global Innovation," Entrepreneurship Theory and Practice, , vol. 45(1), pages 145-174, January.
    2. Nicos Nicolaou & Phillip H. Phan & Ute Stephan, 2021. "The Biological Perspective in Entrepreneurship Research," Entrepreneurship Theory and Practice, , vol. 45(1), pages 3-17, January.
    3. Fisch, Christian & Franken, Ingmar H.A. & Thurik, Roy, 2021. "Are behavioral and electrophysiological measures of impulsivity useful for predicting entrepreneurship?," Journal of Business Venturing Insights, Elsevier, vol. 16(C).
    4. Tahseen Anwer Arshi & Asfia Ambrin & Venkoba Rao & Swapnil Morande & Kanwal Gul, 2022. "A Machine Learning Assisted Study Exploring Hormonal Influences on Entrepreneurial Opportunity Behaviour," Journal of Entrepreneurship and Innovation in Emerging Economies, Entrepreneurship Development Institute of India, vol. 31(3), pages 575-602, November.
    5. Patel, Pankaj C. & Wolfe, Marcus T., 2025. "Self-employment and inflammation in older adults: Examining biomarkers in the survey of health, ageing and retirement in Europe," Journal of Business Venturing Insights, Elsevier, vol. 23(C).

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