NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
loading...

The Productivity Advantage of Serial Entrepreneurs

Kathryn L. Shaw, Anders Sørensen

NBER Working Paper No. 23320
Issued in April 2017
NBER Program(s):Productivity, Innovation, and Entrepreneurship

Serial entrepreneurs, who open more than one business, are found to have higher sales and higher productivity than novice entrepreneurs, who open one business. Using panel data on entrepreneurs and their firms from Denmark for 2001-2013, the serial entrepreneur has 67% higher sales than the novice, but also opens firms that are larger in terms of the initial capital and labor, and thus is 39% more productive. There are subsets of firms that perform especially well – serial entrepreneurs that hold a portfolio of overlapping ongoing firms perform the best, as do those that open as limited liability firm rather than proprietorships. Female serial entrepreneurs do as well as male serial entrepreneurs relative to the performance of novices of their own genders. The second firms of the serial entrepreneurs also stay in business longer than the first (and only) firms of the novices.

download in pdf format
   (1273 K)

email paper

Machine-readable bibliographic record - MARC, RIS, BibTeX

Document Object Identifier (DOI): 10.3386/w23320

Users who downloaded this paper also downloaded* these:
Cramer and Krueger w22083 Disruptive Change in the Taxi Business: The Case of Uber
Barth, Davis, Freeman, and Wang w23484 The Effects of Scientists and Engineers on Productivity and Earnings at the Establishment Where They Work
Acemoglu and Restrepo w23285 Robots and Jobs: Evidence from US Labor Markets
Deng, Gyourko, and Wu w18403 Land and House Price Measurement in China
Hayashi and Koeda w19938 Exiting from QE
 
Publications
Activities
Meetings
NBER Videos
Themes
Data
People
About

National Bureau of Economic Research, 1050 Massachusetts Ave., Cambridge, MA 02138; 617-868-3900; email: info@nber.org

Contact Us