Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/158030
Authors: 
Tran, Hien Thu
Carbonara, Emanuela
Santarelli, Enrico
Year of Publication: 
2017
Series/Report no.: 
GLO Discussion Paper 74
Abstract: 
In this paper we present an occupational choice model for entrepreneurs, in which, based on their individual skills and on the quality of their business, entrepreneurs can keep their original business, open a new business in the same or another sector along the current business (portfolio entrepreneur), shut it down to either start a new one (serial entrepreneur) or to turn to dependent employment. We test our theory using a 10-year panel dataset (2001 to 2010) of more than 4,000 Vietnamese manufacturing firms. We estimate an occupational choice model and a survival model and find that: (i) a greater endowment of human capital is associated with a higher likelihood to become a serial or a portfolio entrepreneur; (ii) A higher quality of the new business is associated to a higher likelihood of being habitual entrepreneurs. Particularly, high entrepreneurial skills together with a high-quality business positively influence the likelihood to be serial or portfolio; (iii) novice entrepreneurs with high entrepreneurial skill and a high-quality business are more likely to keep their business.
Subjects: 
Portfolio entrepreneurship
serial entrepreneurship
occupational choice
industrial policy
JEL: 
F02
L26
L53
Document Type: 
Working Paper

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