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Does Academic Entrepreneurship Pay?

Pontus Braunerhjelm (), Anders Broström and Thomas Astebro ()

No 289, Working Paper Series in Economics and Institutions of Innovation from Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies

Abstract: Various policies have been devised to stimulate the creation of spin-offs from universities by academics. But we still do not know whether it is privately beneficial for academics to start new businesses. To address this question we compile total earnings for the universe of 478 individuals aged 60 or less working at Swedish universities who quit to become full-time entrepreneurs between 1999 and 2008. Using tax filings we record all possible earnings including wages, business income, dividends and capital gains. There are very few full-time academic entrepreneurs. Earnings are similar before and after becoming an entrepreneur and dividends and capital gains are inconsequential. But the income risk is more than three times higher in entrepreneurship. Entrepreneurship for academics appears a gradual process and quite episodic. Little explains entrepreneurial earnings except prior wage and forming a sole proprietorship.

Keywords: academic entrepreneurship; earnings; Sweden (search for similar items in EconPapers)
JEL-codes: J39 J62 M13 O32 (search for similar items in EconPapers)
Pages: 47 pages
Date: 2012-11-23
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Related works:
Journal Article: Does academic entrepreneurship pay? (2013) Downloads
Working Paper: Does academic entrepreneurship pay? (2013)
Working Paper: Does Academic Entrepreneurship Pay? (2012) Downloads
Working Paper: Does Academic Entrepreneurship Pay? (2012) Downloads
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