As a research article, the authors followed the scientific method: they built a theoretical model they believed might explain the phenomena in question; then they developed hypotheses about the phenomena, consistent with their model; and finally, they tested if the empirical data confirmed their hypotheses.
The model had the following major elements:. Judging happiness levels is tricky business. In economics, utility means the satisfaction or net benefit one receives from something. The hypotheses were tested on data from multiple large surveys conducted in several industrialized countries, 3 using both econometric and statistical analysis techniques. Large numbers of people in the industrialized countries say they would prefer to be self-employed.
The survey data reported that 63 percent of Americans, 48 percent of Britons, and 49 percent of Germans would prefer self-employment. Large numbers of people desire self-employment and their wish is justified: The self-employed are, indeed, happier.
Because of the uncertainty of success and the impossibility of forecasting future profitability of new ventures, traditional lenders understandably require a high level of collateralization to protect their investment.
Furthermore, by using statistical controls, the data showed that this self-employment was not just the result of affluent offspring inheriting a family business. What level of inheritance or gift was needed to see this effect? In reality, at one end of a spectrum sit freelancers and contractors, then somewhere in the middle sit small business owners, and way over at the other end sit the venture-backed growth entrepreneurs. Figure 1. Required capital and commitment increase with the ambition of the venture.
Though the authors lump these different modes of self-employment together in this study, each offers a different experience and each has different requirements in terms of capital and commitment. Because of this, follow-on research using more specific categories of entrepreneurship i. Regardless, this article fascinates me because it takes an objective look at two common beliefs: Being your own boss will make you happier but a lack of startup capital will stop you dead in your tracks.
For aspiring entrepreneurs, the conclusions are both reassuring and sobering. Publication Type. More Filters. Abstract The paper makes three contributions to the economics literature on entrepreneurship. We offer a new measure of entrepreneurship which accounts for variations in persistence in … Expand. Highly Influenced. View 16 excerpts, cites results, background and methods. The paper makes three contributions to the economics literature on entrepreneurship. We offer a new measure of entrepreneurship which accounts for variations in persistence in self-employment.
We … Expand. View 5 excerpts, cites results, background and methods. This paper uses NCDS data on individual characteristics to distinguish determinants of entrepreneurial choice, income and job generation.
Entrepreneurship and welfare. Here, I examine returns to entrepreneurship using a standard measure of welfare, the per-capita consumption expenditure. This analysis, using quantile regressions, reveals the existence of a welfare … Expand. View 8 excerpts, cites background. What Makes Entrepreneurs Happy? Determinants of Satisfaction Among Founders. This study empirically investigates factors influencing satisfaction levels of founders of new ventures, using a representative sample of 1, Dutch founders.
We relate entrepreneurial satisfaction … Expand. View 6 excerpts, cites results and background. What makes a die-hard entrepreneur? The article makes three contributions to the economics literature on entrepreneurship.
We offer a new measure of entrepreneurship which accounts for variations in persistence in self-employment and … Expand. View 10 excerpts, cites methods, results and background. Social capital and entrepreneurial activity: A pseudo-panel approach. This paper uses a pseudo-panel approach at an age-based cohort level to investigate the extent to which social capital accounts for differences in entrepreneurial activities. The findings suggest … Expand.
What Makes an Employer? As the policy debate on entrepreneurship increasingly centers on firm growth in terms of job creation, it is important to better understand which variables influence the first hiring decision and … Expand.
View 2 excerpts, cites background. Research Paper No. We examine returns to entrepreneurship using a standard measure of welfare, the percapita consumption expenditure.
The analysis, using quantile regressions, reveals the existence of a welfare … Expand. What Determines Entrepreneurial Intention in India?
The article analyses factors influencing entrepreneurial intent and studies the relationship between an individual's preliminary entrepreneurial intention of starting a business and the factors … Expand. Some Empirical Aspects of Entrepreneurship.
About 4. View 3 excerpts, references methods and background. Why are There so Few Black Entrepreneurs? Black entrepreneurship has been unsuccessful in the U. The fraction of employed blacks that work in their own businesses is about one-third that of whites.
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