Financial Capital, Human Capital, and the Transition to Self-Employment: Evidence from Intergenerational Links.
We use data from the National Longitudinal Surveys to investigate the relative importance of family financial and human capital in the transition into self-employment. Specifically, we estimate the impacts of individual's own wealth and human capital and parental wealth and self-employment experience on the probability that an individual transits from wage-and-salary to self-employment. We find young men's own financial assets exert a statistically significant but quantitatively modest effect on the transition. In contrast, the parents' capital exerts a large influence. Parents' strongest effect runs, not through financial means, but rather through their own self-employment experience and business success. Copyright 2000 by University of Chicago Press.
Year of publication: |
2000
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Authors: | Dunn, Thomas ; Holtz-Eakin, Douglas |
Published in: |
Journal of Labor Economics. - University of Chicago Press. - Vol. 18.2000, 2, p. 282-305
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Publisher: |
University of Chicago Press |
Saved in:
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