Journal ArticleDOI
Education and entrepreneurial success
Ivar Kolstad,Arne Wiig +1 more
TLDR
In this article, an instrument variable approach was used to address the endogeneity of education and found a significant and substantial effect of an added year of primary education on entrepreneurial profitability, consistent with theoretical arguments that primary schooling provides a generalised form of competence that underpins the variety of skills an entrepreneur needs to succeed in business.Abstract:
This paper estimates the effect of education on the success of entrepreneurial activity, using survey data from Malawi. An instrument variable approach is used to address the endogeneity of education. We find a significant and substantial effect of an added year of primary education on entrepreneurial profitability. This is consistent with theoretical arguments that primary schooling provides a generalised form of competence that underpins the variety of skills an entrepreneur needs to succeed in business. Results are robust to non-random selection into entrepreneurship.read more
Citations
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Journal ArticleDOI
Factors influencing the entrepreneurial engagement of opportunity and necessity entrepreneurs
TL;DR: In this paper, the authors analyzed the differences between business owners motivated by opportunity and necessity in terms of their socioeconomic characteristics, personality, and perceptions of entrepreneurial support, and found that those who prefer being a business owner and those who have more favorable perceptions of financial start-up support are more likely to be an opportunity versus a necessity business owner.
Journal ArticleDOI
To be born is not enough: the key role of innovative start-ups
TL;DR: In this article, the authors investigated the reasons why entry per se is not necessarily good and the evidence showing that innovative start-ups survive longer than their non-innovative counterparts.
ReportDOI
Opportunity versus Necessity Entrepreneurship: Two Components of Business Creation
TL;DR: In this article, the authors propose an operational definition of opportunity versus necessity entrepreneurship using readily available nationally representative data and find that "opportunity" vs. "necessity" entrepreneurship is associated with the creation of more growth-oriented businesses.
Journal ArticleDOI
Factors affecting the performance of small and medium enterprises in KwaZulu-Natal, South Africa
TL;DR: In this paper, the authors conducted a cross-sectional study among 74 SMEs owners/managers who were members of the Durban Chamber of Commerce via online using anonymous questionnaire to identify the internal and external factors affecting the performance of SMEs in KwaZulu-Natal, SA.
Journal ArticleDOI
Policy and entrepreneurship education
TL;DR: In this article, the authors provide a historic perspective and an overview of policy and practice affecting entrepreneurship education with a special focus on the recent development in Sweden, where entrepreneurship policy is being implemented in the Swedish educational system, the main effect on entrepreneurship education seems to be growth in an alternative view on entrepreneurship as foremost a means for accomplishing learning through action and practice.
References
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Book
Econometric Analysis of Cross Section and Panel Data
TL;DR: This is the essential companion to Jeffrey Wooldridge's widely-used graduate text Econometric Analysis of Cross Section and Panel Data (MIT Press, 2001).
Journal ArticleDOI
Sample Selection Bias as a Specification Error
TL;DR: In this article, the bias that results from using non-randomly selected samples to estimate behavioral relationships as an ordinary specification error or "omitted variables" bias is discussed, and the asymptotic distribution of the estimator is derived.
Book
Schooling, Experience, and Earnings
TL;DR: In this article, the authors analyzed the distribution of worker earnings across workers and over the working age as consequences of differential investments in human capital and developed the human capital earnings function, an econometric tool for assessing rates of return and other investment parameters.
ReportDOI
Instrumental variables regression with weak instruments
TL;DR: In this paper, the authors developed asymptotic distribution theory for instrumental variable regression when the partial correlation between the instruments and a single included endogenous variable is weak, here modeled as local to zero.
Book ChapterDOI
Testing for Weak Instruments in Linear IV Regression
James H. Stock,Motohiro Yogo +1 more
TL;DR: This paper proposed quantitative definitions of weak instruments based on the maximum IV estimator bias, or the maximum Wald test size distortion, when there are multiple endogenous regressors, and tabulated critical values that enable using the first-stage F-statistic (or, for instance, the Cragg-Donald (1993) statistic) to test whether give n instruments are weak.