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 (7)

Downloads: (external link)
https://mpra.ub.uni-muenchen.de/30076/1/MPRA_paper_30076.pdf original version (application/pdf)

Related works:
Journal Article: The return-to-entrepreneurship puzzle (2013)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:30076

Access Statistics for this paper

More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().