@techreport{NBERw13633,
 title = "Does Individual Performance Affect Entrepreneurial Mobility? Empirical Evidence from the Financial Analysis Market",
 author = "Boris Groysberg and Ashish Nanda and M. Julia Prats",
 institution = "National Bureau of Economic Research",
 type = "Working Paper",
 series = "Working Paper Series",
 number = "13633",
 year = "2007",
 month = "November",
 URL = "http://www.nber.org/papers/w13633",
 abstract = {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.},
}