TY  - JOUR
AU  - Groysberg,Boris
AU  - Nanda,Ashish
AU  - Prats,M. Julia
TI  - Does Individual Performance Affect Entrepreneurial Mobility? Empirical Evidence from the Financial Analysis Market
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 13633
PY  - 2007
Y2  - November 2007
UR  - http://www.nber.org/papers/w13633
L1  - http://www.nber.org/papers/w13633.pdf
N1  - Author contact info:
Boris Groysberg
Harvard University
Morgan Hall 331
Soldiers Field Road
Boston, MA 02163
E-Mail: bgroysberg@hbs.edu

Ashish Nanda
Harvard Law School
23 Everett Street #G-24
Cambridge, MA 02138
Tel: 617-495-6506
Fax: 617-496-4191
E-Mail: ananda@law.harvard.edu

Julia Prats
IESE Business School
Avda. Pearson, 21
08034 Barcelona
SPAIN
Tel: 34- 93 253 42 00
Fax: 34- 93 253 43 43
E-Mail: JPrats@iese.edu
M3  - presented at "Entrepreneurship: Strategy and Structure Conf.", September 13-15, 2007
AB  - 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.
ER  -