The entrepreneurial competencies literature posits that nascent entrepreneurs can be taught skilled behaviors to improve the efficacy of entrepreneurial activities. Recently, Morris et al. (2013) demonstrated that 9 of 13 entrepreneurial competencies were improved for 40 students after a six-week international consulting project. The current study explores whether the same competencies can be developed in a classroom setting. Using a quasi-experimental design with a sample of undergraduate students, we conducted pre- and post-tests of entrepreneurial competencies and found that students enrolled in an Entrepreneurial Thinking course increased competencies in 6 of 13 areas.
{"title":"Improving Entrepreneurial Competencies in the Classroom","authors":"C. Glackin, Steven E. Phelan, Rodney McCrowre","doi":"10.2139/ssrn.3152912","DOIUrl":"https://doi.org/10.2139/ssrn.3152912","url":null,"abstract":"The entrepreneurial competencies literature posits that nascent entrepreneurs can be taught skilled behaviors to improve the efficacy of entrepreneurial activities. Recently, Morris et al. (2013) demonstrated that 9 of 13 entrepreneurial competencies were improved for 40 students after a six-week international consulting project. The current study explores whether the same competencies can be developed in a classroom setting. Using a quasi-experimental design with a sample of undergraduate students, we conducted pre- and post-tests of entrepreneurial competencies and found that students enrolled in an Entrepreneurial Thinking course increased competencies in 6 of 13 areas.","PeriodicalId":268317,"journal":{"name":"ERPN: Individuals (Topic)","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-11-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114342665","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2017-11-02DOI: 10.18510/IJMIER.2017.324
Waleed Hmedat, Mubarak Ali, B. Muthuraman
Purpose: Higher education institutions assume an effective role in enriching the education quality of a nation. The curriculum developed or approved by the ministry, which is an apex body in the country, has a direct impact on the outcomes of the educational system. This paper has made an attempt to critically evaluate the entrepreneurial initiatives developed by the students who pursue their MBA programme.Methodology: This research work is based on both primary and secondary sources of data and the primary data required for the study were collected through a structured questionnaire from rightly designed sample size while for the secondary data, the researchers have relied on previous research works in the same field, apart from other sources like, magazines, e-library resources, text books and websites. The data were analysed by Percentage Analysis and Henry Garrett Ranking Technique to attain the objectives of the study.Findings: The results of the study indicate that most of the students who pursue MBA programme are willing to initiate own business to make a career.Practical Implications: This research work implies that if MBA programmes offered by HEIs incorporate more of practical sessions involving the students in real world problem analysis and decision making mechanism, the students would be able to become successful entrepreneurs.Social Implications: The results of the study indicate that when more of entrepreneurial oriented master programmes are offered, the country will be able to ensure sustainable growth in the business field focusing on SME.Result Limitations/Implications: The present research study has focused on only the MBA students whereas there are other master degree programmes having courses in entrepreneurship, creativity and innovation, which are not covered by the study.Originality/Value: The result outcomes and suggestions would be of valuable basis for any authority who is involved in reviving the curriculum of academic programmes in entrepreneurship.
{"title":"A Study on Entrepreneurial Initiatives among MBA Students in Sultanate of Oman","authors":"Waleed Hmedat, Mubarak Ali, B. Muthuraman","doi":"10.18510/IJMIER.2017.324","DOIUrl":"https://doi.org/10.18510/IJMIER.2017.324","url":null,"abstract":"Purpose: Higher education institutions assume an effective role in enriching the education quality of a nation. The curriculum developed or approved by the ministry, which is an apex body in the country, has a direct impact on the outcomes of the educational system. This paper has made an attempt to critically evaluate the entrepreneurial initiatives developed by the students who pursue their MBA programme.Methodology: This research work is based on both primary and secondary sources of data and the primary data required for the study were collected through a structured questionnaire from rightly designed sample size while for the secondary data, the researchers have relied on previous research works in the same field, apart from other sources like, magazines, e-library resources, text books and websites. The data were analysed by Percentage Analysis and Henry Garrett Ranking Technique to attain the objectives of the study.Findings: The results of the study indicate that most of the students who pursue MBA programme are willing to initiate own business to make a career.Practical Implications: This research work implies that if MBA programmes offered by HEIs incorporate more of practical sessions involving the students in real world problem analysis and decision making mechanism, the students would be able to become successful entrepreneurs.Social Implications: The results of the study indicate that when more of entrepreneurial oriented master programmes are offered, the country will be able to ensure sustainable growth in the business field focusing on SME.Result Limitations/Implications: The present research study has focused on only the MBA students whereas there are other master degree programmes having courses in entrepreneurship, creativity and innovation, which are not covered by the study.Originality/Value: The result outcomes and suggestions would be of valuable basis for any authority who is involved in reviving the curriculum of academic programmes in entrepreneurship.","PeriodicalId":268317,"journal":{"name":"ERPN: Individuals (Topic)","volume":"19 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-11-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134510360","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The business literature has long been concerned with understanding why people become entrepreneurs. This literature, however, has mixed together two important issues — founding a new business and being the right person to operate it. Up until recently, entrepreneurship scholars have largely believed that founders run their ventures personally. Yet it is not clear from either a theoretical or an empirical standpoint why this should be the case. Indeed, entrepreneurs are often criticized for having limited business expertise and placing personal motives ahead of financial returns. Whether founders are optimal managers for their firms strongly depends on their motives for operating the firm personally, i.e., whether their decision is driven by expected non-pecuniary benefits of management or by more strategic considerations. In our paper, we use fine-grained data on entrepreneurs in Denmark to examine what motivates them to operate their firms personally as opposed to hiring a manager. We find that while nonpecuniary motives play a role in the founders’ decision to operate their firms personally, opportunity cost of owner-management and relevant prior experience are equally important. Thus, entrepreneurs put significant emphasis on the characteristics that would improve firm performance and their overall wealth. Our findings are similar for entrepreneurs in high-technology and low-technology sectors as well as for founders who hire non-family and family managers. We also observe that when founders do not manage their firms personally, they typically work full-time at another firm or play a non-managing role in their own venture. In our subsequent analysis, we investigate how these two types of non-managing founders differ, providing further insights into their behavioral motives.
{"title":"Entrepreneur—A Jockey or a Horse Owner?","authors":"Elena Kulchina, Pernille Gjerløv-Juel","doi":"10.2139/ssrn.3441997","DOIUrl":"https://doi.org/10.2139/ssrn.3441997","url":null,"abstract":"The business literature has long been concerned with understanding why people become entrepreneurs. This literature, however, has mixed together two important issues — founding a new business and being the right person to operate it. Up until recently, entrepreneurship scholars have largely believed that founders run their ventures personally. Yet it is not clear from either a theoretical or an empirical standpoint why this should be the case. Indeed, entrepreneurs are often criticized for having limited business expertise and placing personal motives ahead of financial returns. Whether founders are optimal managers for their firms strongly depends on their motives for operating the firm personally, i.e., whether their decision is driven by expected non-pecuniary benefits of management or by more strategic considerations. In our paper, we use fine-grained data on entrepreneurs in Denmark to examine what motivates them to operate their firms personally as opposed to hiring a manager. We find that while nonpecuniary motives play a role in the founders’ decision to operate their firms personally, opportunity cost of owner-management and relevant prior experience are equally important. Thus, entrepreneurs put significant emphasis on the characteristics that would improve firm performance and their overall wealth. Our findings are similar for entrepreneurs in high-technology and low-technology sectors as well as for founders who hire non-family and family managers. We also observe that when founders do not manage their firms personally, they typically work full-time at another firm or play a non-managing role in their own venture. In our subsequent analysis, we investigate how these two types of non-managing founders differ, providing further insights into their behavioral motives.","PeriodicalId":268317,"journal":{"name":"ERPN: Individuals (Topic)","volume":"18 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-01-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126145852","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Through a mixed-methods approach, we explore how the perceived dangers involved in starting a business in a dangerous region of the world differ by gender. We also explore the ways that women’s bus...
{"title":"A Different Frame of Reference: Entrepreneurship and Gender Differences in the Perception of Danger","authors":"A. Bullough, Maija Renko","doi":"10.5465/AMD.2015.0026","DOIUrl":"https://doi.org/10.5465/AMD.2015.0026","url":null,"abstract":"Through a mixed-methods approach, we explore how the perceived dangers involved in starting a business in a dangerous region of the world differ by gender. We also explore the ways that women’s bus...","PeriodicalId":268317,"journal":{"name":"ERPN: Individuals (Topic)","volume":"2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-11-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130293826","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This study uses inductive methodology to examine the motivations and team building processes of employee entrepreneurs through the analysis of thirty founding narratives of disk drive industry spinouts founded between 1977-1997. Our grounded theory building approach uncovers the underappreciated role of non-pecuniary motivations and human capital corridors in the team assembly process. We find ringleaders — the founders who spearhead spinout creation — are often driven by a non-pecuniary desire to create given a fertile industry environment, particularly when they encounter bureaucracy, interpersonal/ethical frictions, or strategic disagreements within the parent firm. They seek out, through human capital corridors, the best cofounders possessing complementary knowledge, skills, and problem-solving abilities but similar values, and work ethic. Cofounders, particularly those without prior startup experience, were eager to ensure they left on good terms with their parent firms, to retain the option of return to paid employment as a safeguard against risks inherent in entrepreneurship. These motivations and team building processes shape the spinout firm’s strategic considerations: the founding team seeks to create unique value propositions, with a reluctance to steal technologies from their parent firms, but a willingness to poach talent. Triangulation with quantitative data reveals that spinouts created with human capital corridors team building processes had significantly better capabilities and success than spinouts with that lacked some aspects.
{"title":"Jewels in the Crown: Exploring the Motivations and Team Building Processes of Employee Entrepreneurs","authors":"Sonali Shah, Rajshree Agarwal, Raj Echambadi","doi":"10.2139/ssrn.2959720","DOIUrl":"https://doi.org/10.2139/ssrn.2959720","url":null,"abstract":"This study uses inductive methodology to examine the motivations and team building processes of employee entrepreneurs through the analysis of thirty founding narratives of disk drive industry spinouts founded between 1977-1997. Our grounded theory building approach uncovers the underappreciated role of non-pecuniary motivations and human capital corridors in the team assembly process. We find ringleaders — the founders who spearhead spinout creation — are often driven by a non-pecuniary desire to create given a fertile industry environment, particularly when they encounter bureaucracy, interpersonal/ethical frictions, or strategic disagreements within the parent firm. They seek out, through human capital corridors, the best cofounders possessing complementary knowledge, skills, and problem-solving abilities but similar values, and work ethic. Cofounders, particularly those without prior startup experience, were eager to ensure they left on good terms with their parent firms, to retain the option of return to paid employment as a safeguard against risks inherent in entrepreneurship. These motivations and team building processes shape the spinout firm’s strategic considerations: the founding team seeks to create unique value propositions, with a reluctance to steal technologies from their parent firms, but a willingness to poach talent. Triangulation with quantitative data reveals that spinouts created with human capital corridors team building processes had significantly better capabilities and success than spinouts with that lacked some aspects.","PeriodicalId":268317,"journal":{"name":"ERPN: Individuals (Topic)","volume":"130 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-09-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132649693","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2016-03-01DOI: 10.1504/IJCLM.2016.10001168
Desmond W. Ng, Harvey S. James, Jr.
An entrepreneur's creation of value and moral leadership is primarily an individualised phenomenon. The objective of this study is to develop a socio-cognitive model where an entrepreneur's enactment of valuable opportunities and a moral awareness for others operate within a complex social setting. We develop a 'practiced' concept of 'habitual agency' where an entrepreneur enacts tightly coupled stakeholder exchanges that confirm an entrepreneur's asymmetric advantage. This habitual agency seeks not only to reduce the 'causal ambiguities' surrounding complex stakeholder exchanges, but also to repeatedly apply a generalised moral standard - golden rule - to an entrepreneur's tightly coupled exchange partners. This socio-cognitive explanation of entrepreneurship appeals to the holistic and interdependent tenets of complex systems where entrepreneurship cannot be examined in isolation of the complexities of their social realities. The implications and contributions of this socio-cognitive approach to entrepreneurship and complexity research are also highlighted.
{"title":"No Man Lives on an Island: Habitual Agency and Complexity in Entrepreneurial Decision-Making","authors":"Desmond W. Ng, Harvey S. James, Jr.","doi":"10.1504/IJCLM.2016.10001168","DOIUrl":"https://doi.org/10.1504/IJCLM.2016.10001168","url":null,"abstract":"An entrepreneur's creation of value and moral leadership is primarily an individualised phenomenon. The objective of this study is to develop a socio-cognitive model where an entrepreneur's enactment of valuable opportunities and a moral awareness for others operate within a complex social setting. We develop a 'practiced' concept of 'habitual agency' where an entrepreneur enacts tightly coupled stakeholder exchanges that confirm an entrepreneur's asymmetric advantage. This habitual agency seeks not only to reduce the 'causal ambiguities' surrounding complex stakeholder exchanges, but also to repeatedly apply a generalised moral standard - golden rule - to an entrepreneur's tightly coupled exchange partners. This socio-cognitive explanation of entrepreneurship appeals to the holistic and interdependent tenets of complex systems where entrepreneurship cannot be examined in isolation of the complexities of their social realities. The implications and contributions of this socio-cognitive approach to entrepreneurship and complexity research are also highlighted.","PeriodicalId":268317,"journal":{"name":"ERPN: Individuals (Topic)","volume":"80 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123259259","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The entrepreneur is the engine of economic growth of a nation. Many individuals aspiring to be entrepreneurs lack the ability to conceive ideas. Although they are motivated and have the financial resources to start-up ventures they are disillusioned as to where and how opportunities are found. The cultural norms of civil society in Sri Lanka being over reliant on astrology, imposing patterns on random data, and luck have an impact on identifying and exploiting entrepreneurial opportunities. There exists a two-world view of the notion of luck that being psychological and philosophical luck, from a psychological perspective this involves the entrepreneurs’ perception of events and people. The philosophical domain focuses on morality and epistemic luck.The purpose of this review is to analyse the importance and role of the phenomenon of luck in identifying entrepreneurial opportunities and its impact on established opportunity identification processes associated with the economic school, cultural cognitive school and the socio-political school. This is achieved by exploring the scope and limitations of the systematic variations in randomness in opportunity identification by adopting a systematic literature review of the established theories of opportunity identification in relation to the psychological and philosophical notion of luck. This study clarifies the misconceptions surrounding the notion of luck in the identification of entrepreneurial opportunities and limitations imposed by the phenomenon of luck in achieving sustainable opportunity identification.
{"title":"Is Luck a Determinant in Achieving Sustainable Entrepreneurial Opportunity?: A Theoretical Perspective","authors":"Aponso G.S.B., K. Gunawardana, M. D. Pushpakumari","doi":"10.2139/ssrn.2706343","DOIUrl":"https://doi.org/10.2139/ssrn.2706343","url":null,"abstract":"The entrepreneur is the engine of economic growth of a nation. Many individuals aspiring to be entrepreneurs lack the ability to conceive ideas. Although they are motivated and have the financial resources to start-up ventures they are disillusioned as to where and how opportunities are found. The cultural norms of civil society in Sri Lanka being over reliant on astrology, imposing patterns on random data, and luck have an impact on identifying and exploiting entrepreneurial opportunities. There exists a two-world view of the notion of luck that being psychological and philosophical luck, from a psychological perspective this involves the entrepreneurs’ perception of events and people. The philosophical domain focuses on morality and epistemic luck.The purpose of this review is to analyse the importance and role of the phenomenon of luck in identifying entrepreneurial opportunities and its impact on established opportunity identification processes associated with the economic school, cultural cognitive school and the socio-political school. This is achieved by exploring the scope and limitations of the systematic variations in randomness in opportunity identification by adopting a systematic literature review of the established theories of opportunity identification in relation to the psychological and philosophical notion of luck. This study clarifies the misconceptions surrounding the notion of luck in the identification of entrepreneurial opportunities and limitations imposed by the phenomenon of luck in achieving sustainable opportunity identification.","PeriodicalId":268317,"journal":{"name":"ERPN: Individuals (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-12-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128679274","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2015-06-12DOI: 10.21863/JEM/2015.4.2.008
S. Yasmin
This paper investigates the entrepreneurial propensity (EP) of business students. EP is a concept used to represent the likelihood that a person will eventually be an entrepreneur or not; whether he or she will demonstrate the characteristics of entrepreneurs in his/her work or profession. Through literature review, the paper has created a model of EP involving its construct variables and some demographic variables that influence EP and its constructs. Based on a survey of evening MBA students in Bangladesh, it has been found that business students have high EP. But female students significantly lag in EP from their male counterparts. The same is true for students who have dependents. Economies, organizations and schools promoting entrepreneurship can use aggregate EP as a measure of their performance. The identification of the construct variables and their measures will help trainers and educators promoting entrepreneurship in identifying areas to emphasize.
{"title":"How Entrepreneurial Are the Business Students! Bangladesh Perspective","authors":"S. Yasmin","doi":"10.21863/JEM/2015.4.2.008","DOIUrl":"https://doi.org/10.21863/JEM/2015.4.2.008","url":null,"abstract":"This paper investigates the entrepreneurial propensity (EP) of business students. EP is a concept used to represent the likelihood that a person will eventually be an entrepreneur or not; whether he or she will demonstrate the characteristics of entrepreneurs in his/her work or profession. Through literature review, the paper has created a model of EP involving its construct variables and some demographic variables that influence EP and its constructs. Based on a survey of evening MBA students in Bangladesh, it has been found that business students have high EP. But female students significantly lag in EP from their male counterparts. The same is true for students who have dependents. Economies, organizations and schools promoting entrepreneurship can use aggregate EP as a measure of their performance. The identification of the construct variables and their measures will help trainers and educators promoting entrepreneurship in identifying areas to emphasize.","PeriodicalId":268317,"journal":{"name":"ERPN: Individuals (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-06-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129437840","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
K. Bjorvatn, A. Cappelen, Linda Helgesson Sekei, Erik Ø. Sørensen, Bertil Tungodden
Can television be used to teach and foster entrepreneurship among youth in developing countries? We report from a randomized control field experiment of an edutainment show on entrepreneurship broadcasted over almost three months on national television in Tanzania. The field experiment involved more than 2,000 secondary school students, where the treatment group was incentivized to watch the edutainment show. We find some suggestive evidence of the edutainment show making the viewers more interested in entrepreneurship and business, particularly among females. However, our main finding is a negative effect: the edutainment show discouraged investment in schooling without convincingly replacing it with some other valuable activity. Administrative data show a strong negative treatment effect on school performance, and long-term survey data show that fewer treated students continue schooling, but we do not find much evidence of the edutainment show causing an increase in business ownership. The fact that an edutainment show for entrepreneurship caused the students to invest less in education carries a general lesson to the field experimental literature by showing the importance of taking a broad view of possible implications of a field intervention. This paper was accepted by David Simchi-Levi, behavioral economics.
{"title":"Teaching Through Television: Experimental Evidence on Entrepreneurship Education in Tanzania","authors":"K. Bjorvatn, A. Cappelen, Linda Helgesson Sekei, Erik Ø. Sørensen, Bertil Tungodden","doi":"10.2139/ssrn.2594748","DOIUrl":"https://doi.org/10.2139/ssrn.2594748","url":null,"abstract":"Can television be used to teach and foster entrepreneurship among youth in developing countries? We report from a randomized control field experiment of an edutainment show on entrepreneurship broadcasted over almost three months on national television in Tanzania. The field experiment involved more than 2,000 secondary school students, where the treatment group was incentivized to watch the edutainment show. We find some suggestive evidence of the edutainment show making the viewers more interested in entrepreneurship and business, particularly among females. However, our main finding is a negative effect: the edutainment show discouraged investment in schooling without convincingly replacing it with some other valuable activity. Administrative data show a strong negative treatment effect on school performance, and long-term survey data show that fewer treated students continue schooling, but we do not find much evidence of the edutainment show causing an increase in business ownership. The fact that an edutainment show for entrepreneurship caused the students to invest less in education carries a general lesson to the field experimental literature by showing the importance of taking a broad view of possible implications of a field intervention. This paper was accepted by David Simchi-Levi, behavioral economics.","PeriodicalId":268317,"journal":{"name":"ERPN: Individuals (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-03-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128902969","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Empirical studies use the assumption of stability in individual risk attitudes when searching for a relationship between attitude to risk and the decision to become and survive as an entrepreneur. We show that risk attitudes do not remain stable but face endogenous adaption when starting a new business. This adaption is associated with entrepreneurial survival. The results show that entrepreneurs with low risk tolerance before entering self-employment and increased risk tolerance when self-employed have a higher probability of survival than similar entrepreneurs experiencing a decrease in the willingness to take risks. We find the opposite results for entrepreneurs who express a higher willingness to take risks before becoming self-employed: in this case, a decrease in tolerance of risk is correlated with an increasing survival probability.
{"title":"Entry into Entrepreneurship, Endogenous Adaption of Risk Attitudes and Entrepreneurial Survival","authors":"M. Brachert, Walter Hyll, Miroslav Titze","doi":"10.2139/ssrn.2529982","DOIUrl":"https://doi.org/10.2139/ssrn.2529982","url":null,"abstract":"Empirical studies use the assumption of stability in individual risk attitudes when searching for a relationship between attitude to risk and the decision to become and survive as an entrepreneur. We show that risk attitudes do not remain stable but face endogenous adaption when starting a new business. This adaption is associated with entrepreneurial survival. The results show that entrepreneurs with low risk tolerance before entering self-employment and increased risk tolerance when self-employed have a higher probability of survival than similar entrepreneurs experiencing a decrease in the willingness to take risks. We find the opposite results for entrepreneurs who express a higher willingness to take risks before becoming self-employed: in this case, a decrease in tolerance of risk is correlated with an increasing survival probability.","PeriodicalId":268317,"journal":{"name":"ERPN: Individuals (Topic)","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132127634","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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