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Schumpeterian Entrepreneurship

Author

Listed:
  • Steven Klepper

    (Carnegie Mellon University)

  • Atsushi Ohyama

    (University of Illinois, Urbana-Champaign)

  • Serguey Braguinsky

    (Carnegie Mellon University)

Abstract

Based on recent findings concerning the best performing startups, we develop a model of Schumpeterian entrepreneurship in which founders exploit ideas they learned through their employment. The model yields distinctive implications about how labor market experience and earnings at work influence the probability of a worker becoming an entrepreneur, earnings as an entrepreneur relative to paid work, and persistence in entrepreneurship. These implications are tested using data on the earnings of scientists and engineers, which are common founders of high growth startups. The sample is pared down to those that worked in and founded businesses related to their education in order to isolate the best candidates for Schumpeterian entrepreneurship.

Suggested Citation

  • Steven Klepper & Atsushi Ohyama & Serguey Braguinsky, 2009. "Schumpeterian Entrepreneurship," 2009 Meeting Papers 772, Society for Economic Dynamics.
    • Handle: RePEc:red:sed009:772
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    References listed on IDEAS

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    4. Barton H. Hamilton, 2000. "Does Entrepreneurship Pay? An Empirical Analysis of the Returns to Self-Employment," Journal of Political Economy, University of Chicago Press, vol. 108(3), pages 604-631, June.
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    6. Blanchflower, David G & Meyer, Bruce D, 1994. "A Longitudinal Analysis of the Young Self-Employed in Australia and the United States," Small Business Economics, Springer, vol. 6(1), pages 1-19, February.
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    Cited by:

    1. William R. Kerr & Ramana Nanda, 2009. "Financing Constraints and Entrepreneurship," Harvard Business School Working Papers 10-013, Harvard Business School.
    2. Nicolai J. Foss & Peter G. Klein, 2013. "Entrepreneurship, entrepreneurial governance and economic organization," Chapters, in: Anna Grandori (ed.), Handbook of Economic Organization, chapter 22, Edward Elgar Publishing.

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