Inclusion of Retirees in Self-Employment: A Human Capital Approach

Abstract

Engaging in self-employment after retiring is rising. Many governments perceive this as a strategy for extending working lives. Based on the employability perspective, this study examines human capital over an individual's lifespan associated with engagement in self-employment after retiring. Specific human capital factors were examined using a time-discrete event history analysis based on panel data with seven waves (N = 4.538 retirees). The results show that education and work experience are relatively effective for predicting self-employment after retiring. Most demographic factors of human capital were not significant in predicting postretirement engagement. Thus, a broader perspective is suggested for future research.