Self-employed people and pension: is old age poverty the inevitable dark side of an entrepreneurial society?

Fachinger, Uwe; Frankus, Anna

doi:10.4337/9781783472666.00029

Cited by 8 publications

(9 citation statements)

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“…In particular, financial distress had a greater negative association with overall health and life satisfaction for the solo self-employed compared to wage-workers, while the negative association with mental health and quality of life was found to be most pronounced for the self-employed with employees. These results should be of major importance for policy makers as we confirm earlier findings by Boegenhold and Klinglmair (2015) and Fachinger and Frankus (2017) showing that a greater share of self-employed may be considered precarious in terms of having money worries. This holds particularly for the solo self-employed.…”

Section: Discussionsupporting

confidence: 89%

“…The impact of low income on well-being is likely to be stronger if there are no alternative resources available to meet financial responsibilities. Savings, and hence financial health, varies considerably and particularly among the self-employed (Fachinger and Frankus, 2017). Hence, we use a broader measure of financial health that considers a person's complete financial situation, an approach that is consistent with the OECD's analysis of income and wealth on well-being (OECD, 2013).…”

Section: Model Variablesmentioning

confidence: 99%

“…Indeed, self-employment is a highly segmented occupational category with differing degrees of success, well-being and stress levels (Cieslik and Dvoulety, 2019). Notwithstanding this heterogeneity, it has been found that precariousness is a greater problem among the self-employed and particularly, the solo self-employed, than among the wage-employed (Boegenhold and Klinglmair, 2015; Fachinger and Frankus, 2017). However, what is less clear is whether the well-being consequences of precariousness, in particular that of financial distress, differ among the wage-employed and self-employed.…”

Section: Introductionmentioning

confidence: 99%

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The relationship between financial distress and well-being: Exploring the role of self-employment

Berrill

Cassells

O'Hagan‐Luff

et al. 2020

International Small Business Journal

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This article investigate the relationship between financial distress, well-being and employment status. Using several indicators of financial distress and of well-being, our econometric analysis shows that the negative association between financial distress and well-being is moderated by employment status in the sense that financial problems are more strongly associated with poor well-being for the self-employed compared to the wage-employed. Hence, when self-employed workers find themselves in a situation of financial distress, the negative consequences for their well-being are more severe. This is found to hold both for the self-employed with and without employees.

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Section: Discussionsupporting

confidence: 89%

Section: Model Variablesmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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The relationship between financial distress and well-being: Exploring the role of self-employment

Berrill

Cassells

O'Hagan‐Luff

et al. 2020

International Small Business Journal

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“…As Meager (2008, p. 200) notes, ‘… the presence of self-employed spells in the previous work history does increase chances of poverty, low savings levels and poor pension entitlement in later life’. The inadequacy of the pensions and social security systems in many countries to accommodate the needs of self-employed people is well-documented in many countries (see, e.g., Frankus & Fachinger, 2012; Fachinger & Frankus, 2015). Employment rights and the development of a new approach which extends some of the protections which employees take for granted, to those ‘self-employed’ in the grey zone between employee status and genuine entrepreneurial independence (the ‘hybrid’ workers of Boegenhold), with a particular focus on the new contractual forms emerging in the ‘gig economy’ or ‘sharing economy’.…”

Section: Institutions and Support Structures: A New Research Agendamentioning

confidence: 99%

“…As Meager (2008, p. 200) notes, '… the presence of self-employed spells in the previous work history does increase chances of poverty, low savings levels and poor pension entitlement in later life'. The inadequacy of the pensions and social security systems in many countries to accommodate the needs of self-employed people is well-documented in many countries (see, e.g., Frankus & Fachinger, 2012;Fachinger & Frankus, 2015).…”

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confidence: 99%

Foreword: JMO special issue on self-employment/freelancing

Meager

2016

Journal of Management & Organization

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Entrepreneurship, economic development, and institutional environment: evidence from OECD countries

et al. 2017

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The purpose of this article is to establish a typology of entrepreneurship for OECD countries over the 1999-2012 period. Our aim is to draw a distinction between managerial and entrepreneurial economies, to identify groups of countries with similar economic and entrepreneurial activity variables, and to determine the economic and institutional drivers of entrepreneurial activities in each group. We show that the level of development, sectoral specialization, and institutional variables related to entrepreneurship, functioning of the labor market and openness of the country are decisive to understand differences in entrepreneurship activity across countries. Results show that the pre-crisis period, from 1999 to 2008, is a period of growth favorable to entrepreneurship. The financial crisis involved a break in entrepreneurial dynamism, with agricultural economies withstanding the financial crisis better. The 2010-2012 period of recovery is a period of a sharp slowdown in entrepreneurial activity, during which the countries that are less dependent on the financial sector proved to be the most resilient in terms of entrepreneurial activity. Nevertheless, it is the advanced knowledge economies with developed financial markets, fewer institutional regulatory constraints, and greater scope for qualitative entrepreneurship that show lower unemployment rates. These findings have important implications for the implementation of public policy in order to promote entrepreneurial activity and reduce unemployment. Résumé : L'objectif de cet article est d'élaborer une typologie des activités entrepreneuriales des pays de l'OCDE durant la période 1999-2012. Notre intention est d'établir une distinction entre les économies managériales et entrepreneuriales, d'identifier des groupes de pays ayant des comportements économiques et entrepreneuriaux similaires et d'identifier les déterminants économiques et institutionnels des activités entrepreneuriales dans chaque groupe. Nous montrons que le niveau de développement, la spécialisation sectorielle ainsi que les variables institutionnelles liées à l'entrepreneuriat, au fonctionnement du marché du travail et à l'ouverture du pays sont déterminants pour appréhender les différences nationales en matière d'activité entrepreneuriale. Les résultats BLIND Manuscript-without author contact information Click here to view linked References

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Self-employed people and pension: is old age poverty the inevitable dark side of an entrepreneurial society?

Cited by 8 publications

References 0 publications

The relationship between financial distress and well-being: Exploring the role of self-employment

The relationship between financial distress and well-being: Exploring the role of self-employment

Foreword: JMO special issue on self-employment/freelancing

Entrepreneurship, economic development, and institutional environment: evidence from OECD countries

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