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Title: Does Entrepreneurship Pay? The Michael Bloombergs, the Hot Dog Vendors, and the Returns to Self-Employment
Resulting in 1 citation.
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Levine, Ross Rubinstein, Yona |
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Does Entrepreneurship Pay? The Michael Bloombergs, the Hot Dog Vendors, and the Returns to Self-Employment Working Paper, Haas School of Business, University of California--Berkeley, September 2012 Cohort(s): NLSY79 Publisher: University of California - Berkeley Keyword(s): Armed Forces Qualifications Test (AFQT); Current Population Survey (CPS) / CPS-Fertility Supplement; Educational Attainment; Entrepreneurship; Illegal Activities; Occupational Aspirations; Occupational Choice; Risk-Taking; Rosenberg Self-Esteem Scale (RSES) (see Self-Esteem); Rotter Scale (see Locus of Control); Self-Employed Workers; Self-Esteem; Wages Permission to reprint the abstract has not been received from the publisher. We use the classification of the self-employed into incorporated and unincorporated to separate between “entrepreneurs” and other business owners. Using data from the CPS and the NLSY79, we find, in contrast to a large body of research, that entrepreneurs earn much more per hour and work many more hours than their salaried and unincorporated counterparts. Moreover, the incorporated self-employed have distinct cognitive and noncognitive traits: they are more educated, and even as teenagers, they score higher on learning aptitude tests, exhibit greater self-esteem, and engage in more aggressive, illicit, risk-taking activities. And, these traits are much more important for entrepreneurial success than they are for success in other employment activities. |
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Bibliography Citation
Levine, Ross and Yona Rubinstein. "Does Entrepreneurship Pay? The Michael Bloombergs, the Hot Dog Vendors, and the Returns to Self-Employment." Working Paper, Haas School of Business, University of California--Berkeley, September 2012. |