Financial capital, human capital, and the transition to self-employment: Evidence from intergenerational links

• 成果类型: Article
• 署名作者: Dunn, T; Holtz-Eakin, D
• 署名单位: Syracuse University
• 刊物名称: JOURNAL OF LABOR ECONOMICS
• ISSN/ISSBN: 0734-306X
• DOI: 10.1086/209959
• 发表日期: 2000
• 页码: 282-305
• 关键词: liquidity constraints

摘要

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, 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.