Open AccessPosted Content
Smart and Illicit: Who Becomes an Entrepreneur and Do They Earn More?
TLDR
In this article, the authors disaggregate the self-employed into incorporated and unincorporated to distinguish between "entrepreneurs" and other business owners, and find that the incorporated selfemployed and their businesses engage in activities that demand comparatively strong non-routine cognitive abilities, while the un-incorporated and their firms perform tasks demanding relatively strong manual skills.Abstract:
We disaggregate the self-employed into incorporated and unincorporated to distinguish between "entrepreneurs" and other business owners. We show that the incorporated self-employed and their businesses engage in activities that demand comparatively strong nonroutine cognitive abilities, while the unincorporated and their firms perform tasks demanding relatively strong manual skills. The incorporated selfemployed have distinct cognitive and noncognitive traits. Besides tending to be white, male, and come from higher-income families, the incorporated—as teenagers—typically scored higher on learning aptitude tests, had greater self-esteem, and engaged in more disruptive, illicit activities. The combination of "smart" and "illicit" tendencies as youths accounts for both entry into entrepreneurship and the comparative earnings of entrepreneurs. In contrast to past research, we find that entrepreneurs earn more per hour and work more hours than their salaried and unincorporated counterparts.read more
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The impact of COVID-19 on small business owners: Evidence from the first 3 months after widespread social-distancing restrictions.
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Experimentation and the Returns to Entrepreneurship
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The Impact of Covid-19 on Small Business Owners: Evidence of Early-Stage Losses from the April 2020 Current Population Survey
TL;DR: In this paper, the authors provided the first analysis of impacts of the pandemic on the number of active small businesses in the United States using nationally representative data from the April 2020 CPS.
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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.
Posted Content
Personality Traits of Entrepreneurs: A Review of Recent Literature
TL;DR: This paper reviewed the extensive literature since 2000 on the personality traits of entrepreneurs and identified interesting and irreducible parts of this heterogeneity, while also identifying places where they anticipate future large-scale research and the growing depth of the field are likely to clarify matters.
References
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Posted Content
A Survey of Corporate Governance
TL;DR: The authors surveys research on corporate governance, with special attention to the importance of legal protection of investors and of ownership concentration in corporate governance systems around the world, and presents a survey of the literature.
Posted Content
Endogenous Technological Change
TL;DR: In this paper, the authors show that the stock of human capital determines the rate of growth, that too little human capital is devoted to research in equilibrium, that integration into world markets will increase growth rates, and that having a large population is not sufficient to generate growth.
Book
Risk, Uncertainty and Profit
TL;DR: In Risk, Uncertainty and Profit, Frank Knight explored the riddle of profitability in a competitive market profit should not be possible under competitive conditions, as the entry of new entrepreneurs would drive prices down and nullify margins, however evidence abounds of competitive yet profitable markets as mentioned in this paper.
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Production, Information Costs, and Economic Organization
Armen A. Alchian,Harold Demsetz +1 more
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Entrepreneurship: Productive, Unproductive, and Destructive
TL;DR: In this article, historical evidence from ancient Rome, early China, and the Middle Ages and Renaissance in Europe is used to investigate the hypotheses that, while the total supply of entrepreneurs varies among societies, the productive contribution of the society's entrepreneurial activities varies much more because of their allocation between productive activities and largely unproductive activities such as rent seeking or organized crime.
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