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Cited by 1,845

The DOI matches its Crossref record; 1 of the 1 references it cites were found in a registry or an index.

Does Entrepreneurship Pay? An Empirical Analysis of the Returns to Self‐Employment

Hamilton, Barton H.·2000·Journal of Political Economy
DOI 10.1086/262131
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Abstract

Possible explanations for earnings differentials in self‐employment and paid employment are investigated. The empirical results suggest that the nonpecuniary benefits of self‐employment are substantial: Most entrepreneurs enter and persist in 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.

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Metadata

Authors
Hamilton, B. H.
Venue
Journal of Political Economy
Publisher
University of Chicago Press
Published
2000-06
Volume
108
Issue
3
Pages
604-631
ISSN
  • 0022-3808 (ISSN-L)
  • 1537-534X
DOI
10.1086/262131
OpenAlex
W1975688239
Cited by
1,845
References
1
FWCI
48.33
Type
journal article
Language
en
Open access
closed

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Bibliographic data: Semantic Scholar, OpenAlex, Crossref.

Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

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