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Past Experience and Future Success: New Evidence on Owner Characteristics and Firm Performance

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  • Ron Jarmin
  • C.J. Krizan

Abstract

Because the ability of entrepreneurs to start their own businesses is key to the success of the U.S. economy and to the economic mobility of many disadvantaged demographic groups, understanding why entrepreneurship activity varies across groups and geography is an increasingly important issue. As a step in this direction we employ a novel set of metrics of business success to the growing literature and find great variation across groups and metrics. For example, we find that black-owned firms grow slower than white or Asian-owned firms. However, once we condition on firm survival, the differences disappear. Interestingly, we also find differences across groups in their start-up histories. For example, Asian-owned firms are less likely than white-owned firms to have started-out as nonemployers but firms owned by all other minority groups, as well as women-owned firms, are more likely to start-out without employees.

Suggested Citation

  • Ron Jarmin & C.J. Krizan, 2010. "Past Experience and Future Success: New Evidence on Owner Characteristics and Firm Performance," Working Papers 10-24, Center for Economic Studies, U.S. Census Bureau.
  • Handle: RePEc:cen:wpaper:10-24
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    File URL: https://www2.census.gov/ces/wp/2010/CES-WP-10-24.pdf
    File Function: First version, 2010
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    References listed on IDEAS

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    1. Edward L. Glaeser, 2007. "Entrepreneurship and the City," NBER Working Papers 13551, National Bureau of Economic Research, Inc.
    2. Bates, Timothy, 1990. "Entrepreneur Human Capital Inputs and Small Business Longevity," The Review of Economics and Statistics, MIT Press, pages 551-559.
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    Cited by:

    1. J. David Brown & John S. Earle & Mee Jung Kim & Kyung Min Lee, 2017. "High-Growth Entrepreneurship," Working Papers 17-53, Center for Economic Studies, U.S. Census Bureau.
    2. Lucia Foster & Patrice Norman, 2015. "The Annual Survey of Entrepreneurs: An Introduction," Working Papers 15-40r, Center for Economic Studies, U.S. Census Bureau.
    3. Lucia Foster & Patrice Norman, 2017. "The Annual Survey of Entrepreneurs: An Update," Working Papers 17-46, Center for Economic Studies, U.S. Census Bureau.
    4. Marco Vivarelli, 2013. "Is entrepreneurship necessarily good? Microeconomic evidence from developed and developing countries," Industrial and Corporate Change, Oxford University Press, pages 1453-1495.
    5. Vivarelli, Marco, 2012. "Drivers of entrepreneurship and post-entry performance : microeconomic evidence from advanced and developing countries," Policy Research Working Paper Series 6245, The World Bank.
    6. Vivarelli, Marco, 2012. "Entrepreneurship in Advanced and Developing Countries: A Microeconomic Perspective," IZA Discussion Papers 6513, Institute for the Study of Labor (IZA).

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