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Does individual performance affect entrepreneurial mobility Empirical evidence from the financial analysis market

Author

Listed:
  • Groysberg, Boris

    (Harvard Business School)

  • Nanda, Ashish

    (Harvard Law School)

  • Prats, M Julia

    (IESE)

Abstract

Our paper contributes to the studies of 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 dataset 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: turnover to entrepreneurship and other turnover. In contrast to turnover to entrepreneurship, star analysts are less likely to move to other firms than non-star analysts.

Suggested Citation

  • Groysberg, Boris & Nanda, Ashish & Prats, M Julia, 2009. "Does individual performance affect entrepreneurial mobility Empirical evidence from the financial analysis market," Journal of Financial Transformation, Capco Institute, vol. 25, pages 95-106.
    • Handle: RePEc:ris:jofitr:0832
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    Citations

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    Cited by:

    1. Jan Zabojnik, 2016. "Firm Reputation And Employee Startups," Working Paper 1362, Economics Department, Queen's University.
    2. Song Wang & Bowen Dong & Steven X. Si & Junsheng Dou, 2017. "When it rains, it pours: A triple-pathway model of collective turnover based on causal mapping analysis," Asia Pacific Journal of Management, Springer, vol. 34(2), pages 461-486, June.
    3. Heejung Byun & Joseph Raffiee & Martin Ganco, 2019. "Discontinuities in the Value of Relational Capital: The Effects on Employee Entrepreneurship and Mobility," Organization Science, INFORMS, vol. 30(6), pages 1368-1393, November.
    4. Aleksandra J. Kacperczyk, 2013. "Social Influence and Entrepreneurship: The Effect of University Peers on Entrepreneurial Entry," Organization Science, INFORMS, vol. 24(3), pages 664-683, June.
    5. Seth Carnahan, 2017. "Blocked But Not Tackled: Who Founds New Firms When Rivals Dissolve?," Strategic Management Journal, Wiley Blackwell, vol. 38(11), pages 2189-2212, November.
    6. Alfonso Gambardella & Martin Ganco & Florence Honoré, 2015. "Using What You Know: Patented Knowledge in Incumbent Firms and Employee Entrepreneurship," Organization Science, INFORMS, vol. 26(2), pages 456-474, April.
    7. Åstebro, Thomas & Chen, Jing, 2014. "The entrepreneurial earnings puzzle: Mismeasurement or real?," Journal of Business Venturing, Elsevier, vol. 29(1), pages 88-105.
    8. Thomas Hellmann & Veikko Thiele, 2011. "Incentives and Innovation: A Multitasking Approach," American Economic Journal: Microeconomics, American Economic Association, vol. 3(1), pages 78-128, February.

    More about this item

    Keywords

    Entrepreneurship; ability; professionals;
    All these keywords.

    JEL classification:

    • J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • J44 - Labor and Demographic Economics - - Particular Labor Markets - - - Professional Labor Markets and Occupations

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