Description

Book Synopsis
What are the characteristics of jobs in entrepreneurial firms as compared to jobs in incumbent firms? Even though this question has been addressed by many researchers before us, we provide new evidence to the field since we measure the entrepreneur as the organic new firm. In the literature, the majority of studies have focused on entrepreneurs as measured by small or new firms. By organic new firms, we mean new firms that are not the result of restructurings or organizing existing or additional activities in a formally new firm. Moreover, we distinguish entrepreneurial firms by different types and distinguish between growing and declining industry-region clusters. Our results differ from the findings in the existing literature. Specifically, we find that compared to incumbents, entrepreneurial firms have higher total factor productivity, are more skill intensive, and pay higher wages. The differences are more pronounced in growing clusters. Moreover, the results show important differences between different types of entrepreneurial firms. Specifically, spin-offs are found to enjoy the largest productivity advantage. The wage and skill premiums at the firm level disappear at the job level, as larger incumbents are both more skill intensive and pay higher wages than smaller incumbents.

Entrepreneurs versus Incumbents: Who Creates the

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    A Paperback / softback by Johan M Kuhn, Nikolaj Malchow-Moller, Anders Sorensen

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      Book details

      Publisher The Rockwool Foundation Research Unit
      Published 16 November 2015
      ISBN-13 9788793119284
      978-8793119284
      ISBN-10 8793119283
      Also in:
      Entrepreneurship / Start-ups Labour / income economics

      Description

      Book Synopsis
      What are the characteristics of jobs in entrepreneurial firms as compared to jobs in incumbent firms? Even though this question has been addressed by many researchers before us, we provide new evidence to the field since we measure the entrepreneur as the organic new firm. In the literature, the majority of studies have focused on entrepreneurs as measured by small or new firms. By organic new firms, we mean new firms that are not the result of restructurings or organizing existing or additional activities in a formally new firm. Moreover, we distinguish entrepreneurial firms by different types and distinguish between growing and declining industry-region clusters. Our results differ from the findings in the existing literature. Specifically, we find that compared to incumbents, entrepreneurial firms have higher total factor productivity, are more skill intensive, and pay higher wages. The differences are more pronounced in growing clusters. Moreover, the results show important differences between different types of entrepreneurial firms. Specifically, spin-offs are found to enjoy the largest productivity advantage. The wage and skill premiums at the firm level disappear at the job level, as larger incumbents are both more skill intensive and pay higher wages than smaller incumbents.

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