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The return-to-entrepreneurship puzzle

Ari Hyytinen, Pekka Ilmakunnas () and Otto Toivanen ()

Labour Economics, 2013, vol. 20, issue C, 57-67

Abstract: The returns to entrepreneurship are monetary and non-monetary. We offer new evidence on these returns using a large sample of male twins. Our within-twin analysis suggests that OLS estimates are downwards, and panel data estimates upwards biased. The within-twin estimates imply that entrepreneurs earn a negative earnings premium. Our within-twin analysis of non-monetary returns shows that entrepreneurs work longer hours and have greater responsibilities, but also have a greater control over their work.

Keywords: Entrepreneurship; Earnings; Twin data; Monetary returns; Non-monetary returns; Selection (search for similar items in EconPapers)
JEL-codes: L26 J24 (search for similar items in EconPapers)
Date: 2013
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Working Paper: The return-to-entrepreneurship puzzle (2011) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:eee:labeco:v:20:y:2013:i:c:p:57-67

DOI: 10.1016/j.labeco.2012.11.002

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