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Does individual performance affect entrepreneurial mobility Empirical evidence from the financial analysis market

Author

Listed:
  • Groysberg, Boris

    () (Harvard Business School)

  • Nanda, Ashish

    () (Harvard Law School)

  • Prats, M Julia

    () (IESE)

Abstract

Our paper contributes to the studies of 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 dataset 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: turnover to entrepreneurship and other turnover. In contrast to turnover to entrepreneurship, star analysts are less likely to move to other firms than non-star analysts.

Suggested Citation

  • Groysberg, Boris & Nanda, Ashish & Prats, M Julia, 2009. "Does individual performance affect entrepreneurial mobility Empirical evidence from the financial analysis market," Journal of Financial Transformation, Capco Institute, vol. 25, pages 95-106.
  • Handle: RePEc:ris:jofitr:0832
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    Citations

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    Cited by:

    1. Jan Zabojnik, 2016. "Firm Reputation and Employee Startups," Working Papers 1362, Queen's University, Department of Economics.
    2. repec:kap:asiapa:v:34:y:2017:i:2:d:10.1007_s10490-017-9504-5 is not listed on IDEAS
    3. repec:bla:stratm:v:38:y:2017:i:11:p:2189-2212 is not listed on IDEAS
    4. Åstebro, Thomas & Chen, Jing, 2014. "The entrepreneurial earnings puzzle: Mismeasurement or real?," Journal of Business Venturing, Elsevier, vol. 29(1), pages 88-105.

    More about this item

    Keywords

    Entrepreneurship; ability; professionals;

    JEL classification:

    • J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • J44 - Labor and Demographic Economics - - Particular Labor Markets - - - Professional Labor Markets and Occupations

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