Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/114039
Authors: 
Blumberg, Boris F.
Pfann, Gerard A.
Year of Publication: 
2015
Series/Report no.: 
IZA Discussion Papers 9155
Abstract: 
This paper studies the event history of business foundation. Three theoretical concepts of human, financial and social capital are linked to investigate variations over time of people's decision processes to become self-employed. Data from a cohort of Dutch inhabitants born in 1939/1940 who have been interviewed three times during their lives in 1952, 1983, and 1993 allows for testing theoretical hypotheses that state clear differences between two different roads towards business ownership. Empirical results show that the baseline hazard decreases with time for transgenerational entrepreneurs with self-employed parents, but increases for self-made startups. Social capital in the form of strong ties is a better predictor of enterprise than human capital.
Subjects: 
entrepreneurship
family business
new venture creation
JEL: 
D92
M14
M21
Document Type: 
Working Paper

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