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Entrepreneurial motives and performance: Why might better educated entrepreneurs be less successful?

  • Arnab Bhattacharjee

    (CRIEFF - Centre for Research into Industry, Enterprise, Finance and the Firm - St Andrews)

  • Jean Bonnet

    ()

    (TEPP - Travail, Emploi et Politiques Publiques - CNRS : FR3435 - Université Paris-Est Marne-la-Vallée (UPEMLV), CREM - Centre de Recherche en Economie et Management - CNRS : UMR6211 - Université de Rennes 1 - Université de Caen Basse-Normandie)

  • Nicolas Le Pape

    (TEPP - Travail, Emploi et Politiques Publiques - CNRS : FR3435 - Université Paris-Est Marne-la-Vallée (UPEMLV), CREM - Centre de Recherche en Economie et Management - CNRS : UMR6211 - Université de Rennes 1 - Université de Caen Basse-Normandie)

  • Régis Renault

    (THEMA - Théorie économique, modélisation et applications - CNRS : UMR8184 - Université de Cergy Pontoise)

In a sample of newly created French firms, the impact of an entrepreneurís education on the firm's survival varies widely depending on his previous labor market situation. While it is strongly positive for the overall population, it is much weaker or insignificant for entrepreneurs who were previously unemployed or poorly matched. Our theoretical entrepreneurship model shows that these differences may be attributed to differences in unobserved human capital for better educated entrepreneurs across different initial states in the labor market. Empirical results are consistent with the theory if employers have limited information about potential entrepreneurs'human capital.

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Paper provided by HAL in its series Working Papers with number halshs-00809745.

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Date of creation: Aug 2009
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Handle: RePEc:hal:wpaper:halshs-00809745
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