{"title":"When we talk about the future: the effect of uncertainty perception on entrepreneurial propensity","authors":"B. Song","doi":"10.2139/ssrn.3536311","DOIUrl":"https://doi.org/10.2139/ssrn.3536311","url":null,"abstract":"Language shapes the speaker’s mind. This study initiatively employs a stable linguistic feature of future tense, inflectional morphology for future tense (IF), to measure the intensity of uncertainty perception, and explores the effect of uncertainty perception on a country’s entrepreneurial propensity. We argue that individuals who use inflectional morphology for future tense perceive uncertainty intensely. Therefore, their resident countries and regions experience fewer new ventures created, namely less prosperous entrepreneurial activities. By using the country-level data in 137 countries from 2010 to 2018 (and region-level in three countries where different official languages are spoken in regions), our empirical evidence supported the propositions. The finding implies that the linguistic feature of future tense can serve as an informal institutional factor of an individual’s perception of uncertainty and contribute to the heterogeneity of nationwide and regional entrepreneurial propensity. The results present after controlling for a number of macro socio-economic and entrepreneurial ecosystem variables.","PeriodicalId":299374,"journal":{"name":"ERPN: Entrepreneurial Entry & Exit (Sub-Topic)","volume":"118 5","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-08-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"120814741","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Career Effects of Mental Health","authors":"Barbara Biasi, Michael S. Dahl, Petra Moser","doi":"10.2139/ssrn.2544251","DOIUrl":"https://doi.org/10.2139/ssrn.2544251","url":null,"abstract":"Case studies of successful entrepreneurs who are bipolar suggest a positive link between bipolar disorder and entrepreneurship. To investigate this link, we examine detailed individual-level registry data for Denmark, including medical prescriptions, for 2.4 million individuals. These data show that individuals who are at a higher risk of bipolar disorder are more likely to be self-employed and more likely to be incorporated. They are also more likely to become an executive in a young and small firm albeit not in other firms. Most strikingly, bipolar individuals earn 43 percent less on average and are 16 percent more likely to earn zero wages. But they are also 13 percent more likely to enter the 90th percentile of the wage distribution. To examine the potential effects of mental health treatments on wages, we exploit the introduction of lithium in Denmark in 1976. Comparisons of wage differences for cohorts who had access to lithium when they were 20 with cohorts who did not have access indicate that access to lithium eliminated the wage penalty for individuals who are at risk of bipolar disorder. In addition, their chances of entering the 90th percentile of the wage distribution increased by 6 percent.","PeriodicalId":299374,"journal":{"name":"ERPN: Entrepreneurial Entry & Exit (Sub-Topic)","volume":"03 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128297974","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Entrepreneurial Wealth and Employment: Tracing Out the Effects of a Stock Market Crash","authors":"Marius A. K. Ring","doi":"10.2139/ssrn.3716347","DOIUrl":"https://doi.org/10.2139/ssrn.3716347","url":null,"abstract":"Using the dispersion in stock returns during the financial crisis as a source of exogenous variation in the wealth of Norwegian entrepreneurs who held listed stocks, I show that adverse shocks to the wealth of business owners had large effects on their firms' financing, employment, and investment. The effects on investment and employment are driven by young firms, who obtain differentially less bank financing following an owner wealth shock. The effects on employment operate primarily through reduced hiring. My findings highlight that equity‐financing frictions and the procyclicality of entrepreneurial wealth are important channels that can amplify economic shocks.This article is protected by copyright. All rights reserved","PeriodicalId":299374,"journal":{"name":"ERPN: Entrepreneurial Entry & Exit (Sub-Topic)","volume":"7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-09-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115842573","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Debiasing Time-to-Event Models in Entrepreneurship","authors":"Paul P. Momtaz","doi":"10.2139/ssrn.3597240","DOIUrl":"https://doi.org/10.2139/ssrn.3597240","url":null,"abstract":"Because time is a key determinant of entrepreneurial decision making, time-to-event models are ubiquitous in entrepreneurship. Widespread econometric misconception, however, may cause complicated biases in existing studies. The reason is spurious duration dependency, a complicated form of endogeneity caused by unobserved heterogeneity. This article discusses the endogeneity problem and methods to debias time-to-event models in entrepreneurship. Simulations and empirical evidence indicate that only the frailty approach yields consistently unbiased parameter estimates. An application to start-up firms’ time-to-funding shows that other methods lead to dramatic biases. Therefore, this article advocates a paradigm shift in the modeling of time variables in entrepreneurship.","PeriodicalId":299374,"journal":{"name":"ERPN: Entrepreneurial Entry & Exit (Sub-Topic)","volume":"8 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-05-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134036666","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Entrepreneurial Experience and Firm Exit over the Business Cycle","authors":"E. McGuire","doi":"10.2139/ssrn.3233800","DOIUrl":"https://doi.org/10.2139/ssrn.3233800","url":null,"abstract":"In this paper, I explore business cycle-related dynamics in differences in exit decisions between serial and novice entrepreneurs. Using time-series geographic variation in eco- nomic conditions, I examine how businesses founded by serial and novice entrepreneurs differentially respond to changes in average state personal income, alternative employ- ment options, and home values. Weibull survival model estimates indicate that serial entrepreneurs are more likely to endure declines in aggregate income and credit avail- ability, but are relatively more likely to go out of business as slack increases in the labor market (increases in unemployment rate). In the second part of the paper, I provide evidence that these dynamics are driven by differences in business strategies and the use of financial resources.","PeriodicalId":299374,"journal":{"name":"ERPN: Entrepreneurial Entry & Exit (Sub-Topic)","volume":"61 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124749495","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A Tale of 'Sea Turtles:' Returnee Entrepreneurship, Institutions, and Firm Performance","authors":"Qing Liu, Qin Han, Runjuan Liu, Ruosi Lu","doi":"10.2139/ssrn.3015633","DOIUrl":"https://doi.org/10.2139/ssrn.3015633","url":null,"abstract":"Returnee entrepreneurs have contributed to the economic development of their home countries. However, how do these returnee entrepreneurs differ from local entrepreneurs? How do their firms perform relative to local firms? What is the role of local institutions in the performance of returnees’ firms? Answers to these questions remain elusive. Using nationwide surveys of Chinese private firms, we investigate the relationships between returnee entrepreneurship, institutions, and firm performance. Particularly, we distinguish returnees with overseas degrees (RDs) and those with overseas training (RTs). We find that: (1) both firms led by RDs and RTs perform better than those led by local entrepreneurs; (2) RD- and RT-led firms share the competitive advantages of internationalization and RD and (3) local institutions moderate the impact of returnee entrepreneurship on firm performance.","PeriodicalId":299374,"journal":{"name":"ERPN: Entrepreneurial Entry & Exit (Sub-Topic)","volume":"13 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-02-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115573271","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Human Capital and the Performance of Firms Over Time","authors":"R. Baptista, Francisco Lima, J. Mendonça","doi":"10.2139/ssrn.2009673","DOIUrl":"https://doi.org/10.2139/ssrn.2009673","url":null,"abstract":"We examine the impact of founders' and employees' general and specific human capital on the performance of new firms (survival and sales) over time. We find that firms founded by more educated business owners are more likely to perform better. Results also indicate that business owners with previous managerial and industry-specific experience are more likely to survive and present better sales performance. This effect persists and indeed gains relevance over time, even if the firm's owners change. While industry-specific and managerial experience are important for entrepreneurs, firm-specific human capital is more important for employees, and the acquisition of old routines and practices from previous firms does not matter so much for employee performance as it does for founders.","PeriodicalId":299374,"journal":{"name":"ERPN: Entrepreneurial Entry & Exit (Sub-Topic)","volume":"23 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-02-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127667033","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A Study of Factors Related to Successful and Failure of Entrepreneurs of Small Industrial Business with Emphasis on Their Level of Education and Training","authors":"Y. Mehralizadeh, S. Sajady","doi":"10.2139/ssrn.902045","DOIUrl":"https://doi.org/10.2139/ssrn.902045","url":null,"abstract":"This paper examines the determinants of business start-up, long and short-term success, and failure of small businesses. Entrepreneurs and small firm success and failure have been the subject of extensive research. It is important to understand the external, internal, and motivational factors responsible for business start-up, the barriers faced during the initial and continuous stages of trading and the advice and assistance available to entrepreneurs. This paper is aiming in explaining the main factors are related to successful, and failure of entrepreneurs in small industrial business in Ahvaz city. Based on a random sampling 51 enterprisers marked as successful and failures are selected. The data collected based on a triangulation method (interview, questionnaire, and observation). The results show that: a- from the failure entrepreneurs point of view the following issues were important effects on their weak performance and failure their business: weak managing technical skills, financial issues, planning and organizing of their business, economic issues, informal issues, weak managing conceptual skills, personnel skills, education and low training, and weak human relation. b- from the successful entrepreneurs point of view the following issues were important effects on their high performance in their business: suitable managing technical skills, selecting appropriate personnel with relevant skills, education and paying more attention to personnel training, application of management conceptual skills, financial issues, better human relation, recognize the economic situation, planning and organizing of their business and informal issues.","PeriodicalId":299374,"journal":{"name":"ERPN: Entrepreneurial Entry & Exit (Sub-Topic)","volume":"13 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2006-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126537168","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}