Are nascent entrepreneurs jacks-of-all-trades?: a test of Lazear's theory of entrepreneurship with German data

Joachim Wagner

Are nascent entrepreneurs jacks-of-all-trades? a test of Lazear's theory of entrepreneurship with German data

Joachim Wagner

Publikation: Arbeits- oder Diskussionspapiere und Berichte › Arbeits- oder Diskussionspapiere

Abstract

In a recent paper Edward Lazear proposed the jack-of-all-trades view of entrepreneurship. Based on a coherent model of the choice between self-emlployment and paid employment he shows that having a background in a large number of different roles increases the probability of becoming an entrepreneur...

Originalsprache	Englisch
Erscheinungsort	Lüneburg
Verlag	Institut für Volkswirtschaftslehre der Universität Lüneburg
Seitenumfang	12
Publikationsstatus	Erschienen - 2003

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Volkswirtschaftslehre
Unternehmensgründung

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title = "Are nascent entrepreneurs jacks-of-all-trades?: a test of Lazear's theory of entrepreneurship with German data",

abstract = "In a recent paper Edward Lazear proposed the jack-of-all-trades view of entrepreneurship. Based on a coherent model of the choice between self-emlployment and paid employment he shows that having a background in a large number of different roles increases the probability of becoming an entrepreneur. The intuition behind this proposition is that entrepreneurs must have sufficient knowledge in a variety of areas to put together the many ingredients needed for survival and success in a business, while for paid employees it suffices and pays to be a specialist in the field demanded by the job taken. This study contributes to the entrepreneurship literature by empirically testing Lazear's hypothesis using a large recent representative sample of the German population. The empirical estimation takes the rare events nature of becoming a nascent entrepreneur and the regional stratification of the sample into account. The results illustrate the statistical significance and economic importance of the 'jack-of-all-trades' theory.",

keywords = "Economics, Unternehmensgr{\"u}ndung , rare events logit, Germany, jack-of-all-trades theory, entrepreneurship",

author = "Joachim Wagner",

year = "2003",

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N2 - In a recent paper Edward Lazear proposed the jack-of-all-trades view of entrepreneurship. Based on a coherent model of the choice between self-emlployment and paid employment he shows that having a background in a large number of different roles increases the probability of becoming an entrepreneur. The intuition behind this proposition is that entrepreneurs must have sufficient knowledge in a variety of areas to put together the many ingredients needed for survival and success in a business, while for paid employees it suffices and pays to be a specialist in the field demanded by the job taken. This study contributes to the entrepreneurship literature by empirically testing Lazear's hypothesis using a large recent representative sample of the German population. The empirical estimation takes the rare events nature of becoming a nascent entrepreneur and the regional stratification of the sample into account. The results illustrate the statistical significance and economic importance of the 'jack-of-all-trades' theory.

AB - In a recent paper Edward Lazear proposed the jack-of-all-trades view of entrepreneurship. Based on a coherent model of the choice between self-emlployment and paid employment he shows that having a background in a large number of different roles increases the probability of becoming an entrepreneur. The intuition behind this proposition is that entrepreneurs must have sufficient knowledge in a variety of areas to put together the many ingredients needed for survival and success in a business, while for paid employees it suffices and pays to be a specialist in the field demanded by the job taken. This study contributes to the entrepreneurship literature by empirically testing Lazear's hypothesis using a large recent representative sample of the German population. The empirical estimation takes the rare events nature of becoming a nascent entrepreneur and the regional stratification of the sample into account. The results illustrate the statistical significance and economic importance of the 'jack-of-all-trades' theory.

KW - Economics

KW - Unternehmensgründung

KW - rare events logit

KW - Germany

KW - jack-of-all-trades theory

KW - entrepreneurship

M3 - Working papers

T3 - Arbeitsbericht

BT - Are nascent entrepreneurs jacks-of-all-trades?

PB - Institut für Volkswirtschaftslehre der Universität Lüneburg

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Are nascent entrepreneurs jacks-of-all-trades? a test of Lazear's theory of entrepreneurship with German data

Abstract

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