When Less is More: Distinguishing Between Entrepreneurial Choice and Performance

Andrew E. Burke, Felix R. FitzRoy and Michael A. Nolan

Oxford Bulletin of Economics and Statistics, 2000, vol. 62, issue 5, 565-587

Abstract: This paper uses NCDS data on individual characteristics to distinguish determinants of entrepreneurial choice, income and job generation. A new model of utility from self‐employment shows that relaxing liquidity constraints could inhibit performance. Empirically, we find that a range of inheritance enhances the performance of the self‐employed and increases self‐employment; while higher education also increases self‐employment income and job creation, but reduces the probability of self‐employment. Combining these choice and performance effects, we find that education has a positive net effect on job creation, as does inheritance up to a certain threshold.

Date: 2000
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