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High-Tech Entrepreneurship

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  • Serguey Braguinsky
  • Steven Klepper
  • Atsushi Ohyama

Abstract

Whereas most start-ups are in low-tech industries, we apply a novel strategy to a data set of scientists and engineers to focus predominantly on high-tech entrepreneurs. We develop a simple model in which the rewards from entrepreneurship are determined by the interaction of ability, the quality of the entrepreneurial idea, and experience in employment. As is consistent with the model, we find that the average return to entrepreneurship is positive, higher paid workers are more likely to become entrepreneurs, especially at younger ages, and greater pre-entry labor market experience is associated with longer tenure but lower earnings in entrepreneurship.

Suggested Citation

  • Serguey Braguinsky & Steven Klepper & Atsushi Ohyama, 2012. "High-Tech Entrepreneurship," Journal of Law and Economics, University of Chicago Press, vol. 55(4), pages 869-900.
  • Handle: RePEc:ucp:jlawec:doi:10.1086/666488
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    References listed on IDEAS

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    Cited by:

    1. Ashish Arora & Michelle Gittelman & Sarah Kaplan & John Lynch & Will Mitchell & Nicolaj Siggelkow & Serguey Braguinsky & David A. Hounshell, 2016. "History and nanoeconomics in strategy and industry evolution research: Lessons from the Meiji-Era Japanese cotton spinning industry," Strategic Management Journal, Wiley Blackwell, vol. 37(1), pages 45-65, January.
    2. Braguinsky, Serguey & Honjo, Yuji & Nagaoka, Sadao & Nakamura, Kenta, 2010. "Science-Based Business : Knowledge Capital or Entrepreneurial Ability? : Theory and Evidence from a Survey of Biotechnology Start-ups," IIR Working Paper 10-05, Institute of Innovation Research, Hitotsubashi University.
    3. Henry Sauermann, 2017. "Fire in the Belly? Employee Motives and Innovative Performance in Startups versus Established Firms," NBER Working Papers 23099, National Bureau of Economic Research, Inc.
    4. Florence Honoré & Martin Ganco, 2016. "Entrepreneurial teams' acquisition of talent: a two-sided approach," Working Papers 16-45, Center for Economic Studies, U.S. Census Bureau.
    5. Hao, Shengbin & Song, Michael, 2016. "Technology-driven strategy and firm performance: Are strategic capabilities missing links?," Journal of Business Research, Elsevier, vol. 69(2), pages 751-759.
    6. 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.
    7. Haifeng Qian & Kingsley Haynes, 2014. "Beyond innovation: the Small Business Innovation Research program as entrepreneurship policy," The Journal of Technology Transfer, Springer, vol. 39(4), pages 524-543, August.
    8. Konon, Alexander, 2015. "Personality traits, subjective learning, and entrepreneurial decision making," Annual Conference 2015 (Muenster): Economic Development - Theory and Policy 112805, Verein für Socialpolitik / German Economic Association.
    9. Guido Buenstorf & Kristian Nielsen & Bram Timmermans, 2017. "Steve Jobs or No Jobs? Entrepreneurial activity and performance among Danish college dropouts and graduates," Small Business Economics, Springer, vol. 48(1), pages 179-197, January.
    10. Charles E. Eesley & David H. Hsu & Edward B. Roberts, 2014. "The contingent effects of top management teams on venture performance: Aligning founding team composition with innovation strategy and commercialization environment," Strategic Management Journal, Wiley Blackwell, vol. 35(12), pages 1798-1817, December.
    11. Cumming, Douglas & Walz, Uwe & Werth, Jochen Christian, 2015. "The dynamics of entrepreneurial careers in high-tech ventures: Experience, education, and exit," SAFE Working Paper Series 122, Research Center SAFE - Sustainable Architecture for Finance in Europe, Goethe University Frankfurt.
    12. Åstebro, Thomas & Chen, Jing, 2014. "The entrepreneurial earnings puzzle: Mismeasurement or real?," Journal of Business Venturing, Elsevier, vol. 29(1), pages 88-105.
    13. repec:kap:sbusec:v:49:y:2017:i:3:d:10.1007_s11187-017-9848-8 is not listed on IDEAS

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