No experience necessary: the peer effects of intended entrepreneurs

Isaac Hacamo and Kristoph Kleiner

Review of Finance, 2024, vol. 28, issue 4, 1311-1344

Abstract: Under a randomized setting, this article finds workers with entrepreneurial ambitions—intended entrepreneurs—are (1) far more common than workers with past entrepreneurial experience and (2) increase the rate of entrepreneurship among their peers. Peer effects are persistent, stronger for tighter networks, and extend to the decision to join a startup. As intended peers explain half of the variation in entrepreneurship rates in our sample, our results demonstrate that intended entrepreneurs, even those that never personally start a firm, represent a vital component of the entrepreneurial ecosystem.

Keywords: entrepreneurship; peer effects; intention; random assignment; business school (search for similar items in EconPapers)
JEL-codes: C92 D81 D84 D91 L26 (search for similar items in EconPapers)
Date: 2024
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