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Source: Tinbergen Institute
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van der Sluis, Justin |
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Successful Entrepreneurship and Human Capital Ph.D. Dissertation No. 402, Tinbergen Institute Research Series, April 2007. ISBN 978 90 5170 734 2. Also: http://dare.uva.nl/document/46786 Cohort(s): NLSY79 Publisher: Tinbergen Institute Keyword(s): Census of Population; Earnings; Educational Returns; Entrepreneurship; Income; Locus of Control (see Rotter Scale); Rotter Scale (see Locus of Control); Self-Employed Workers; Variables, Instrumental Permission to reprint the abstract has not been received from the publisher. We estimate the effect of education on incomes for both entrepreneurs and employees on a sample drawn from the National Longitudinal Survey of Youth (NLSY) in the USA. The nationally representative part of the NLSY consists of 6,111 individuals aged between 14 and 22 years in 1979.4 They have been interviewed annually up to 1994, and since then on a bi-annual basis. Our analysis is based on 19 waves, where the first interviews were held in 1979, and the last in the year 2000. Within each observed year, the sample includes all persons who are entrepreneurs or employees (defined below), while excluding students and people who are unemployed or otherwise not working. The resulting sample size per year includes, on average, 2,646 entrepreneurs/employees. On average, each individual is included in the sample in 12.8 waves. Before turning to the descriptive statistics, we first define the three endogenous variables empirically -- i.e., entrepreneur/employee, education and income -- and mention three appealing features of the dataset. An entrepreneur is defined as a person whose main occupation in the labor market is on a self-employed basis or who is the owner-director of an incorporated business. Farmers are excluded from the sample.5 Furthermore, we exclude \hobby" entrepreneurs from the sample by using a lower boundary of 300 hours per year worked as an entrepreneur. An employee is defined as a person whose main occupation is a salaried job. The education level of both groups is measured in years of completed schooling, with a maximum of 20. |
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Bibliography Citation
van der Sluis, Justin. Successful Entrepreneurship and Human Capital. Ph.D. Dissertation No. 402, Tinbergen Institute Research Series, April 2007. ISBN 978 90 5170 734 2.. |