Clogs to clogs in three generations? Explaining entrepreneurial performance in Britain since 1850

• 成果类型: Article
• 署名作者: Nicholas, T
• 刊物名称: JOURNAL OF ECONOMIC HISTORY
• ISSN/ISSBN: 0022-0507
• DOI: 10.1017/S0022050700023536
• 发表日期: 1999
• 页码: 688-713
• 关键词: permanent-income hypothesis; intergenerational transfers; liquidity constraints; panel data; WEALTH; consumption; decline; essay

摘要

Research into culture and entrepreneurship in Britain has been dominated by casual empiricism. This article shows the benefits of using a new method. Lifetime wealth accumulation is specified as a measure of entrepreneurial performance, and applied to data collected fi om dictionaries of business biography. Industry, region, and religious dissent are ruled out as explanations of entrepreneurial performance. Education and entrepreneurial type are the important predictors. Firm inheritors and those receiving a high-status education experienced relatively low lifetime rates of wealth accumulation. Firm founders, managers, and individuals with a lower-status education were comparatively successful.