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Intelligence, Self-confidence and Entrepreneurship

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  • Asoni, Andrea

    () (Research Institute of Industrial Economics (IFN))

Abstract

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.

Suggested Citation

  • Asoni, Andrea, 2011. "Intelligence, Self-confidence and Entrepreneurship," Working Paper Series 887, Research Institute of Industrial Economics.
  • Handle: RePEc:hhs:iuiwop:0887
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    References listed on IDEAS

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    1. Rodrigo Pinto & Azeem Shaikh & Adam Yavitz & James Heckman, 2010. "Inference with Imperfect Randomization: The Case of the Perry Preschool Program," 2010 Meeting Papers 1336, Society for Economic Dynamics.
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    3. Justin van der Sluis & Mirjam van Praag & Wim Vijverberg, 2008. "Education And Entrepreneurship Selection And Performance: A Review Of The Empirical Literature," Journal of Economic Surveys, Wiley Blackwell, vol. 22(5), pages 795-841, December.
    4. Alex Tabarrok, 2010. "Boulevard of Broken Dreams: Why Public Efforts to Boost Entrepreneurship and Venture Capital Have Failed - and What to Do About It," The Economic Record, The Economic Society of Australia, vol. 86(274), pages 458-459, September.
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    6. Keane, Michael P & Wolpin, Kenneth I, 1997. "The Career Decisions of Young Men," Journal of Political Economy, University of Chicago Press, vol. 105(3), pages 473-522, June.
    7. Macpherson, David A., 1988. "Self-employment and married women," Economics Letters, Elsevier, vol. 28(3), pages 281-284.
    8. 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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    More about this item

    Keywords

    Entrepreneurship; College Education; Intelligence; Self-confidence;

    JEL classification:

    • C41 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Duration Analysis; Optimal Timing Strategies
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship

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