Analyzing data on all U.S. employers in a cohort of entering firms, we document a highly skewed size distribution, such that the largest 5% account for over half of cohort employment at firm birth and more than two-thirds at firm age 7. Little of the size variation is accounted for by industry...

Self-efficacy reflects the self-belief that one can persistently perform difficult and novel tasks while coping with adversity. As such beliefs reflect how individuals behave, think, and act, they are key for successful entrepreneurial activities. While existing literature mainly analyzes the...

Personal values represent fundamental motivations, expressing what humans consider to be important in their lives. This study explores the relationship between founders' personal values and the performance of new ventures, considering the moderating impact of the new venture's lifecycle. To do...