6533b86efe1ef96bd12cca90
RESEARCH PRODUCT
The Return-to-Entrepreneurship Puzzle
Otto ToivanenPekka IlmakunnasAri Hyytinensubject
Organizational Behavior and Human Resource ManagementEconomics and EconometricsLabour economicsEntrepreneurshipta511Earningsmedia_common.quotation_subjectControl (management)05 social sciencesLarge samplejel:J24Work (electrical)jel:L260502 economics and business8. Economic growthEconomics050207 economicsWelfarehealth care economics and organizations050203 business & managemententrepreneurship; earnings; twin data; education; monetary returns; nonmonetary returns; selectionPanel dataTwo-part tariffmedia_commondescription
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.
| year | journal | country | edition | language |
|---|---|---|---|---|
| 2013-01-01 | SSRN Electronic Journal |