High-Growth Entrepreneurship
High-Growth Entrepreneurship
复制标题
高增长创业精神
DOI：
--
复制
发表时间：
2018
期刊：
影响因子：
--
通讯作者：
Kyung Min Lee
中科院分区：
文献类型：
--
作者：
J. D. Brown;John S. Earle;Mee Jung Kim;Kyung Min Lee
我们研究了大量初创企业创造就业机会的模式和决定因素。对美国雇主的分析显示，从公司出生到7岁，就业规模具有很强的持续性，在这两个年龄段，一小部分公司占据了大部分就业机会，这种模式几乎无法用细分的行业控制或融资金额来解释。结合企业主调查中36，400家初创企业的54，700名创始人的特征数据，并将“高增长”定义为0岁和7岁时规模分布中的前5%公司，我们发现女性在这两个年龄段建立高增长企业的概率低30%。非洲裔美国人在创业方面的类似差距在7岁时消失了。其他关于种族、民族和出生地的差异是适度的。创始人年龄最初与高增长概率呈正相关，但在7年后，这种情况会有所改善，甚至略有负面影响。教育背景最初是凹的，高等学位获得者找到高增长公司的可能性并不比高中毕业生高，但前者在公司成立7年时就赶上了学士学位获得者，而后者则不然。大多数其他具有创始人特征的高增长关系随着时间的推移是高度持久的。先前的业务所有权与高增长率有很强的正相关性，而经验丰富的经验与高增长率有负相关性。一个更大的创始团队提高了高增长的概率，而多样性（性别，年龄，种族/民族或出生地）要么降低了概率，要么几乎没有影响。更多的启动资金提高了由独资经营者、妇女、少数民族、移民、退伍军人、新手企业家以及年轻人或受教育程度较低的人创办的公司的高增长倾向。也许令人惊讶的是，女性、少数民族和受教育程度较低的人倾向于选择高增长行业，但与同行相比，他们中实现高增长的人较少。
We study the patterns and determinants of job creation for a large cohort of start-up firms. Analysis of the universe of U.S. employers reveals strong persistence in employment size from firm birth to age seven, with a small fraction of firms accounting for most employment at both ages, patterns that are little explained by finely disaggregated industry controls or amount of finance. Linking to data from the Survey of Business Owners on characteristics of 54,700 founders of 36,400 start-ups, and defining “high growth” as the top 5% of firms in the size distribution at age zero and seven, we find that women have a 30% lower probability of founding high-growth entrepreneurships at both ages. A similar gap for African-Americans at start-up disappears by age seven. Other differences with respect to race, ethnicity, and nativity are modest. Founder age is initially positively associated with high growth probability but the profile flattens after seven years and even becomes slightly negative. The education profile is initially concave, with advanced degree recipients no more likely to found high growth firms than high school graduates, but the former catch up to those with bachelor’s degrees by firm age seven, while the latter do not. Most other relationships of high growth with founder characteristics are highly persistent over time. Prior business ownership is strongly positively associated, and veteran experience negatively associated, with high growth. A larger founding team raises the probability of high growth, while diversity (by gender, age, race/ethnicity, or nativity) either lowers the probability or has little effect. More start-up capital raises the high-growth propensity of firms founded by a sole proprietor, women, minorities, immigrants, veterans, novice entrepreneurs, and those who are younger or with less education. Perhaps surprisingly, women, minorities, and those with less education tend to choose high growth industries, but fewer of them achieve high growth compared to their industry peers.