What distinguishes a serial entrepreneur?

Hyytinen, Ari; Ilmakunnas, Pekka

doi:10.1093/icc/dtm024

Cited by 80 publications

(61 citation statements)

References 29 publications

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“…Individuals were identified as working in these sectors if their employer was in an industry that met Eurostat and OECD classifications (identified in unpublished Appendix B), which are based on the ratio of research and development 14 Statistics Sweden is a division in the Ministry of Finance with authority over all national statistics for Sweden, including those related to industry and trade. RAMS is an acronym for Registerbaserad Arbetsmarknadsstatistik, which in English is equivalent to -Register-based Labor Statistics.‖ SRU is an acronym for Standardiserad Räkenskapsutdrag, which in English is equivalent to -Standardized Accounting Summary.‖ We believe our data to be comparable to recent studies using matched employee-employer data for Denmark (Sorensen 2007) and Finland (Hyytinen and Ilmakunnas 2007) expenditures to gross domestic product (Götzfried 2004 …”

Section: Datasupporting

confidence: 70%

Hybrid Entrepreneurship

2010

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in HYBRID ENTREPRENEURSHIP 2 ABSTRACTIn contrast to previous efforts to model the individual's movement from wage work into entrepreneurship, we consider that individuals might transition incrementally by retaining their wage job while entering into self-employment. We show that these hybrid entrepreneurs represent a significant share of all entrepreneurial activity. Theoretical arguments are proposed to suggest why hybrid entrants are distinct from self-employment entrants, and why hybrid entry may facilitate subsequent entry into full self-employment. We demonstrate that there are significant theoretical and empirical consequences for this group and our understanding of self-employment entry and labor market dynamics. Using matched employee-employer data over eight years, we test the model on a population of Swedish wage earners in the knowledge-intensive sector.

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Section: Datasupporting

confidence: 70%

Hybrid Entrepreneurship

2010

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“…2 A less conventional approach is also explored by Hyytinen and Ilmakunnas (2007) and Blanchard et al (2012). They include the residual from the first step estimation in the original model and test the significance of the coefficient of that residual.…”

Section: Endogeneity Issues and Robustness Checksmentioning

confidence: 99%

Economic slowdowns, hazard rates and foreign ownership

Varum¹,

Rocha²,

Silva³

2014

International Business Review

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This paper evaluates the link between foreign ownership and firm exit during crises, using a longitudinal micro dataset over an 18-year period. We address two main questions: first, if foreign affiliates have different failure rates than domestic firms during economic downturns, and second if the foreignness effect differs between two different economic downturns. The results partially confirm the liability of foreignness argument, suggesting that when the crisis was more pronounced at home than abroad, the differences in hazard rates between foreign and domestic firms reduce. The footloose argument is also only partially confirmed. For policy makers, our results on survival dynamics during crises are not against policies stimulating inward investment. There is no need to fear that foreign firms destabilize more than usual the host economy during economic slowdowns by immediately closing down operations.ß 2013 Elsevier Ltd. All rights reserved. Author's personal copy downturns because foreign firms hold some sort of ownership advantages over domestic ones. Foreign multinationals may have better conditions to face the crises owing to their multinationality advantages or they may resist more due to the sunk costs associated with their investment (Chung, Lu, & Beamish, 2008;Desai, Foley, & Forbes, 2004;Ghosal, 2010). Studies about the importance of foreign ownership during crises are relatively scarce, the notable exceptions being the studies by Á lvarez and Gö rg (2009), Lee and Makhija (2009) and Varum and Rocha (2011). Hence, in this paper we use longitudinal firm-level data for a large time span to assess, first, whether foreign ownership contributes to differentiating the incidence of firm exit during crises, controlling for other determinants that may affect the exit risk of firms. We use discrete time hazard models that account for firm-level unobserved heterogeneity to answer our research questions. In addition, we analyze whether the foreign ownership effect differs between two crises, which occurred in the same economy, in different periods of time and with different characteristics. To our knowledge the paper is unique in these respects. We analyze manufacturing firms created in Portugal in the period 1988-2005 by following their paths during the whole period and the economic slowdowns of early 1990s and 2000s. Portugal in particular is an interesting case as the economy experienced these significant slowdowns which provide us with 'a natural experiment to identify directly the ''footloose nature'' of multinationals' (Á lvarez & Gö rg, 2009).Results from past lessons may be of value in understanding more modern recessions, such as the one from which the world economy is currently recovering. For the Portuguese case we add to the previous important contributions of Portugal (2002, 2004), by enlarging the time span of their study and focusing on the potential effect of foreign ownership during (different) downturn periods. Compared to Varum and Rocha (2011), who examined the link between foreign ownershi...

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“…The category of entrepreneurs also comprises unpaid family members (who are not wage-earners). In all, our definition of self-employment corresponds to the definitions used in other Finnish studies; see, e.g., Johansson (2000) or Hyytinen and Ilmakunnas (2006). The number of self-employed is 11,296, of which 3,757 (33%) are female and 7,539 male.…”

Section: Self-employmentmentioning

confidence: 99%

The nature of self-employment: how does gender matter?

Tervo

Haapanen

2010

IJESB

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ABSTRACT. This paper analyses female and male entrepreneurship and the differences between them in Finland. The female self-employment rate is clearly lower than that of male self-employment in Finland. The paper shows that differing behaviour accounts for differing rates of self-employment between females and males. The predicted earnings differential between self-employment and paid-employment has a divergent effect on the probabilities of self-employment. For males, it is positive, as expected. For females, it has no effect, which accentuates the other motives they have for selfemployment. Both spouse and family are found to have bigger effects on female selfemployment than on male self-employment. Yet personal characteristics are behind entrepreneurship for both sexes. Regional characteristics are more important for male than female self-employment. The analysis is based on a structural probit model and a large register-based data set which represents a 7% random sample of all Finns in 2001.

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What distinguishes a serial entrepreneur?

Cited by 80 publications

References 29 publications

Hybrid Entrepreneurship

Hybrid Entrepreneurship

Economic slowdowns, hazard rates and foreign ownership

The nature of self-employment: how does gender matter?

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