Does Individual Performance Affect Entrepreneurial Mobility? Empirical Evidence from the Financial Analysis Market /
Groysberg, Boris.
Does Individual Performance Affect Entrepreneurial Mobility? Empirical Evidence from the Financial Analysis Market / Boris Groysberg, Ashish Nanda, M. Julia Prats. - Cambridge, Mass. National Bureau of Economic Research 2007. - 1 online resource: illustrations (black and white); - NBER working paper series no. w13633 . - Working Paper Series (National Bureau of Economic Research) no. w13633. .
November 2007.
Our paper contributes to the studies on the relationship between workers' human capital and their decision to become self-employed as well as their probability to survive as entrepreneurs. Analysis from a panel data set of research analysts in investment banks over 1988-1996 reveals that star analysts are more likely than non-star analysts to become entrepreneurs. Furthermore, we find that ventures started by star analysts have a higher probability of survival than ventures established by non-star analysts. Extending traditional theories of entrepreneurship and labor mobility, our results also suggest that drivers of turnover vary by destination: (a) turnover to entrepreneurship and (b) other turnover. In contrast to turnover to entrepreneurship, star analysts are less likely to move to other firms than non-star analysts.
System requirements: Adobe [Acrobat] Reader required for PDF files.
Mode of access: World Wide Web.
Does Individual Performance Affect Entrepreneurial Mobility? Empirical Evidence from the Financial Analysis Market / Boris Groysberg, Ashish Nanda, M. Julia Prats. - Cambridge, Mass. National Bureau of Economic Research 2007. - 1 online resource: illustrations (black and white); - NBER working paper series no. w13633 . - Working Paper Series (National Bureau of Economic Research) no. w13633. .
November 2007.
Our paper contributes to the studies on the relationship between workers' human capital and their decision to become self-employed as well as their probability to survive as entrepreneurs. Analysis from a panel data set of research analysts in investment banks over 1988-1996 reveals that star analysts are more likely than non-star analysts to become entrepreneurs. Furthermore, we find that ventures started by star analysts have a higher probability of survival than ventures established by non-star analysts. Extending traditional theories of entrepreneurship and labor mobility, our results also suggest that drivers of turnover vary by destination: (a) turnover to entrepreneurship and (b) other turnover. In contrast to turnover to entrepreneurship, star analysts are less likely to move to other firms than non-star analysts.
System requirements: Adobe [Acrobat] Reader required for PDF files.
Mode of access: World Wide Web.