Intelligence, Self-confidence and Entrepreneurship
I investigate the effect of human capital on entrepreneurship using the National Longitudinal Survey of Youth - 1979. I find that individuals with higher measured intelligence and self-confidence are more likely to be entrepreneurs. Furthermore I present evidence suggesting that intelligence and self-confidence affect business ownership through two different channels: intelligence increases business survival while self-confidence increases business creation. Finally, once we control for intelligence and self-confidence the effect of formal college education almost completely vanishes. These results are robust to controlling for selection into entrepreneurship and selection into college.
|Date of creation:||24 Oct 2011|
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- Rodrigo Pinto & Azeem Shaikh & Adam Yavitz & James Heckman, 2010.
"Inference with Imperfect Randomization: The Case of the Perry Preschool Program,"
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- Jonathan Bean, 2010. "Boulevard of broken dreams: why public efforts to boost entrepreneurship and venture capital have failed - and what to do about it," Business History, Taylor & Francis Journals, vol. 52(4), pages 688-689.
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