| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 971512 | Labour Economics | 2013 | 11 Pages |
The returns to entrepreneurship are monetary and non-monetary. We offer new evidence on these returns using a large sample of male twins. Our within-twin analysis suggests that OLS estimates are downwards, and panel data estimates upwards biased. The within-twin estimates imply that entrepreneurs earn a negative earnings premium. Our within-twin analysis of non-monetary returns shows that entrepreneurs work longer hours and have greater responsibilities, but also have a greater control over their work.
►The returns to entrepreneurship are monetary and non-monetary. ► We offer new evidence on these returns using a large sample of male twins. ► Entrepreneurs earn a negative wage premium. ► Panel estimates of the premium are upwards and OLS estimate downwards biased. ► Entrepreneurs have longer work hours and more responsibilities. However, entrepreneurs have a greater control over their work.
