Does entrepreneurship pay? An empirical analysis of the returns to self-employment
Does entrepreneurship pay? An empirical analysis of the returns to self-employment
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DOI：
10.1086/262131
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发表时间：
2000-06-01
影响因子：
8.2
通讯作者：
Hamilton, BH
中科院分区：
文献类型：
--
作者：
Hamilton, BH
研究了自营职业和有偿就业收入差异的可能解释。实证结果表明，自营职业的非金钱利益是巨大的：大多数企业家进入并持续经营不良业务，尽管他们的初始收入和收入增长都低于有偿就业，这意味着个体经营 10 年的中位收入差异为 35%。这种差异不能用选择低能力员工进行自营职业来解释，并且对于自营职业收入和跨行业的三种替代指标来说也是类似的。此外，估计的收入差异可能低估了不同部门薪酬的差异，因为员工薪酬的衡量标准中不包括附加福利。
Possible explanations fur earnings differentials in self-employment and paid employment are investigated. The empirical results suggest that the nonpecuniary benefits of self-employment are sub-stantial: Most entrepreneurs enter and persist ill business despite the fact that they have both lower initial earnings and lower earnings growth than in paid employment, implying a median earnings differential of 35 percent for individuals in business for 10 years. The differential cannot be explained by the selection of low-ability employees into self-employment and is similar for three alternative measures of self-employment earnings and across industries. Furthermore, the estimated earnings differentials may understate the differences in compensation across sectors since fringe benefits are not included in the measure of employee compensation.