Anmerkungen:
In: HANDBOOK OF ENTREPRENEURIAL FINANCE, Doug Cummings, ed., Oxford University Press, 2012, pp. 45-108
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments September 14, 2010 erstellt
Beschreibung:
This Chapter reviews theory and evidence on the financial returns to an individual from the choice to be or become an entrepreneur in comparison to the best (or present) alternative; the returns in entrepreneurship. It turns out surprisingly difficult to answer the simple question “What are the returns in entrepreneurship?” This difficulty stems from that the returns vary depending on which country, which time period and which data set one refers to. There are also several notable measurement difficulties, different measurement statistics yield different answers, and it depends on whether one means unconditional or conditional returns. This review will carefully parse through the empirical literature, document findings, deliver stylized facts, and discuss the reasons for the observed variation in returns. Further, I will present the main theories of entrepreneurial choice and discuss how well these theories explain observed data. Finally, I will document the most important variables affecting the rate of return to entrepreneurship and review theories explaining these effects