The returns to entrepreneurship : evidence from matched person-firm data / Mirjam van Praag (Copenhagen Business School, CEPR, IZA and Tinbergen Institute), Arvid Raknerud (Statistics Norway and Norges Bank) ; IZA Institute of Labor Economics
VerfasserPraag, Mirjam van In der Gemeinsamen Normdatei der DNB nachschlagen ; Raknerud, Arvid In der Gemeinsamen Normdatei der DNB nachschlagen
KörperschaftForschungsinstitut zur Zukunft der Arbeit In der Gemeinsamen Normdatei der DNB nachschlagen
ErschienenBonn, Germany : IZA Institute of Labor Economics, September 2017
Elektronische Ressource
Umfang1 Online-Ressource (29 Seiten)
SerieDiscussion paper ; no. 11018
URNurn:nbn:de:hbz:5:2-138786 Persistent Identifier (URN)
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The returns to entrepreneurship [0.26 mb]
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Empirical studies show low pecuniary returns of switching from wage employment to entrepreneurship. We reconsider the pecuniary gains of this switching by employing a two-stage procedure, where the randomness in the timing of inheritance transfers is used as an exclusion restriction to identify causal effects. The model is estimated on data covering the whole Norwegian population of individuals matched to the entire population of firms established in the period 2002-2011. The results indicate that the average returns to entrepreneurship are significantly negative for individuals entering entrepreneurship through self-employment and modest, but significantly positive, for incorporated startups.