Personality characteristics and the decision to become and stay self-employed
Caliendo, Marco ;  Fossen, Frank M. ;  Kritikos, Alexander ;  ;  Universität <Berlin, Freie Universität> / Fachbereich Wirtschaftswissenschaft

Main titlePersonality characteristics and the decision to become and stay self-employed
AuthorCaliendo, Marco
AuthorFossen, Frank M.
AuthorKritikos, Alexander
EditorUniversität <Berlin, Freie Universität> / Fachbereich Wirtschaftswissenschaft
No. of Pages61 S.
Series ; 2011,9 : Economics
KeywordsEntrepreneurship; Personality; Big Five; Risk Aversion; Locus of Control
Classification (DDC)331 Labor economics
AbstractThis paper systematically investigates whether different kinds of personality characteristics influence entrepreneurial development. On the basis of a large, representative household panel survey, we examine the extent to which the Big Five traits and further personality characteristics, which are more specifically related to entrepreneurial tasks, influence entry into self-employment and survival of self-employed persons in Germany. The empirical analysis reveals that among the specific characteristics in particular “risk attitudes” and “locus of control” have strong effects on entry and survival. With respect to the Big Five approach, in particular the traits “openness to experience” and “extraversion” and to a lower extent “agreeableness” and “neuroticism” help to explain entrepreneurial development. The
explanatory power of the Big Five is comparable to one of the most prominent determinants of entrepreneurship – education – and approximately three times larger than parental selfemployment.
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FU DepartmentDepartment Business and Economics
Other affiliation(s)Volkswirtschaftslehre Schwerpunkt Finanzwissenschaft
Year of publication2011
Type of documentBook
Terms of use/Rights Nutzungsbedingungen
Created at2011-05-05 : 10:35:44
Last changed2016-01-05 : 02:38:24
Static URLhttp://edocs.fu-berlin.de/docs/receive/FUDOCS_document_000000010326