Hyytinen, Ari and Ilmakunnas, Pekka and Toivanen, Otto (2011): The return-to-entrepreneurship puzzle.
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The returns to entrepreneurship are monetary and non-monetary. We offer new evidence on these returns using a large sample of genetically identical male twins. Our within-twin analysis suggests that OLS estimates are downwards, and traditional first-differenced panel data estimates upwards biased. We find no differences in the earnings of men with either low or high education. Our within-twin analysis of non-monetary returns shows that entrepreneurs with low education work longer hours and have greater responsibilities, but also face a reduced risk of divorce and less monotonous work tasks. The same does not apply to highly educated entrepreneurs.
|Item Type:||MPRA Paper|
|Original Title:||The return-to-entrepreneurship puzzle|
|Keywords:||entrepreneurship; earnings; twin data; education; monetary returns; nonmonetary returns; selection|
|Subjects:||J - Labor and Demographic Economics > J2 - Demand and Supply of Labor > J24 - Human Capital; Skills; Occupational Choice; Labor Productivity
L - Industrial Organization > L2 - Firm Objectives, Organization, and Behavior > L26 - Entrepreneurship
|Depositing User:||Pekka Ilmakunnas|
|Date Deposited:||11. Apr 2011 06:23|
|Last Modified:||12. Feb 2013 17:48|
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