The theoretical literature has long noted that talent can be used in both the entrepreneurial and non-entrepreneurial sectors, and its allocation depends on the reward structure. We test these hypotheses by linking administrative college admissions data for 1.8 million individuals with the...

We analyze a new management survey for around 1,000 firms and 10,000 employees across two large provinces in China. The unique aspect of this survey is it collected management data from the CEO, a random sample of senior managers and workers. We document four main results. First, management...

Drawing on a random-sampling of matched employer−employee data that was collected in 2016 by the People's Republic of China Employer−Employee Survey, we first estimate returns of education for Chinese manufacturing workers. Using hourly wages as the dependent variable, we find that the...