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The return-to-entrepreneurship puzzle

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

MPRA Paper from University Library of Munich, Germany

Abstract: The returns to entrepreneurship are monetary and non-monetary. We offer new evidence on these returns using a large sample of genetically identical male twins. Our within-twin analysis suggests that OLS estimates are downwards, and traditional first-differenced panel data estimates upwards biased. We find no differences in the earnings of men with either low or high education. Our within-twin analysis of non-monetary returns shows that entrepreneurs with low education work longer hours and have greater responsibilities, but also face a reduced risk of divorce and less monotonous work tasks. The same does not apply to highly educated entrepreneurs.

Keywords: entrepreneurship; earnings; twin data; education; monetary returns; nonmonetary returns; selection (search for similar items in EconPapers)
JEL-codes: J24 L26 (search for similar items in EconPapers)
Date: 2011-03
New Economics Papers: this item is included in nep-ent and nep-lab
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6) Track citations by RSS feed

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Related works:
Journal Article: The return-to-entrepreneurship puzzle (2013) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:30076

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