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In the name of my parents: Entrepreneurship and the intergenerational transmission of values

  • Michael Wyrwich

    ()

    (School of Economics and Business Administration, Friedrich-Schiller-University Jena)

Mounting empirical evidence shows that kids of self-employed parents are very likely to become entrepreneurs themselves. These findings are often attributed to the intergenerational transmission of parental norms and values. However, many papers in the field are not that explicit about parental values. Furthermore, nearly all studies neglect potential heterogeneity of entrepreneurial parents and their values. I argue that values of entrepreneurial parents can be quite different due to context factors like their motivation for being self-employed (e.g., necessity- vs. opportunity driven). I also think that direct information on values should be exploited to understand their intergenerational transmission. To this end, I fill research gaps and contribute to the literature by making use of a natural experiment. This allows identify- ing a group of entrepreneurial parents with a distinct value orientation and detecting a trans- mission of these parental values.

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Paper provided by Friedrich-Schiller-University Jena in its series Jena Economic Research Papers with number 2013-031.

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Date of creation: 20 Aug 2013
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Handle: RePEc:jrp:jrpwrp:2013-031
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  1. Hyytinen, Ari & Ilmakunnas, Pekka & Toivanen, Otto, 2013. "The return-to-entrepreneurship puzzle," Labour Economics, Elsevier, vol. 20(C), pages 57-67.
  2. Bisin, A. & Verdier, T., 1997. "The Economics of Cultural Transmission and the Dynamics of Preferences," DELTA Working Papers 97-03, DELTA (Ecole normale supérieure).
  3. Doepke, Matthias & Zilibotti, Fabrizio, 2014. "Parenting with Style: Altruism and Paternalism in Intergenerational Preference Transmission," CEPR Discussion Papers 10029, C.E.P.R. Discussion Papers.
  4. Fritsch, Michael, 2004. "Entrepreneurship, entry and performance of new business compared in two growth regimes: East and West Germany," Freiberg Working Papers 2004,09, TU Bergakademie Freiberg, Faculty of Economics and Business Administration.
  5. Nicos Nicolaou & Scott Shane & Lynn Cherkas & Janice Hunkin & Tim D. Spector, 2008. "Is the Tendency to Engage in Entrepreneurship Genetic?," Management Science, INFORMS, vol. 54(1), pages 167-179, January.
  6. Matthias Doepke, . "Occupational Choice and the Spirit of Capitalism," UCLA Economics Online Papers 419, UCLA Department of Economics.
  7. Tabellini, Guido, 2007. "The Scope of Cooperation: Values and incentives," CEPR Discussion Papers 6534, C.E.P.R. Discussion Papers.
  8. Bruno S. Frey & Matthias Benz, 2003. "Being Independent is a Great Thing: Subjective Evaluations of Self-Employment and Hierarchy," CESifo Working Paper Series 959, CESifo Group Munich.
  9. Koellinger, Philipp & Minniti, Maria & Schade, Christian, 2007. ""I think I can, I think I can": Overconfidence and entrepreneurial behavior," Journal of Economic Psychology, Elsevier, vol. 28(4), pages 502-527, August.
  10. Michael Fritsch & Alina Rusakova, 2012. "Self-Employment after Socialism: Intergenerational Links, Entrepreneurial Values, and Human Capital," Jena Economic Research Papers 2012-022, Friedrich-Schiller-University Jena.
  11. Michael Wyrwich, 2011. "Regional Entrepreneurial Heritage in a Socialist and Post-socialist Economy," ERSA conference papers ersa10p495, European Regional Science Association.
  12. Michael Wyrwich, 2012. "Regional Entrepreneurial Heritage in a Socialist and a Postsocialist Economy," Economic Geography, Clark University, vol. 88(4), pages 423-445, October.
  13. Dunn, Thomas & Holtz-Eakin, Douglas, 2000. "Financial Capital, Human Capital, and the Transition to Self-Employment: Evidence from Intergenerational Links," Journal of Labor Economics, University of Chicago Press, vol. 18(2), pages 282-305, April.
  14. Alberto Alesina & Nichola Fuchs Schuendeln, 2005. "Good bye Lenin (or not?): The Effect of Communism on People's Preferences," NBER Working Papers 11700, National Bureau of Economic Research, Inc.
  15. Earle, John S. & Sakova, Zuzana, 2000. "Business start-ups or disguised unemployment? Evidence on the character of self-employment from transition economies," Labour Economics, Elsevier, vol. 7(5), pages 575-601, September.
  16. Nicolaou, Nicos & Shane, Scott, 2010. "Entrepreneurship and occupational choice: Genetic and environmental influences," Journal of Economic Behavior & Organization, Elsevier, vol. 76(1), pages 3-14, October.
  17. Alberto Bisin & Thierry Verdier, 2000. ""Beyond the Melting Pot": Cultural Transmission, Marriage, and the Evolution of Ethnic and Religious Traits," The Quarterly Journal of Economics, Oxford University Press, vol. 115(3), pages 955-988.
  18. Westlund, Hans & Bolton, Roger, 2003. "Local Social Capital and Entrepreneurship," Small Business Economics, Springer, vol. 21(2), pages 77-113, September.
  19. Landes, David S., 1949. "French Entrepreneurship and Industrial Growth in the Nineteenth Century," The Journal of Economic History, Cambridge University Press, vol. 9(01), pages 45-61, May.
  20. Thomas Dunn & Douglas Holtz-Eakin, 1996. "Financial Capital, Human Capital, and the Transition to Self-Employment:Evidence from Intergenerational Links," NBER Working Papers 5622, National Bureau of Economic Research, Inc.
  21. Fuchs-Schundeln, Nicola & Alesina, Alberto, 2007. "Good-Bye Lenin (Or Not?): The Effect of Communism on People's Preferences," Scholarly Articles 4553032, Harvard University Department of Economics.
  22. Simone Chlosta & Holger Patzelt & Sabine Klein & Christian Dormann, 2012. "Parental role models and the decision to become self-employed: The moderating effect of personality," Small Business Economics, Springer, vol. 38(1), pages 121-138, January.
  23. Croson, David C. & Minniti, Maria, 2012. "Slipping the surly bonds: The value of autonomy in self-employment," Journal of Economic Psychology, Elsevier, vol. 33(2), pages 355-365.
  24. Carter, Nancy M. & Gartner, William B. & Shaver, Kelly G. & Gatewood, Elizabeth J., 2003. "The career reasons of nascent entrepreneurs," Journal of Business Venturing, Elsevier, vol. 18(1), pages 13-39, January.
  25. Baumol, William J, 1990. "Entrepreneurship: Productive, Unproductive, and Destructive," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages 893-921, October.
  26. Wyrwich, Michael, 2013. "Can socioeconomic heritage produce a lost generation with regard to entrepreneurship?," Journal of Business Venturing, Elsevier, vol. 28(5), pages 667-682.
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