@article{FossenMartin2018,
  author    = {Fossen, Frank M. and Martin, Thorsten},
  title     = {Entrepreneurial dynamics over space and time},
  series = {Regional science and urban economics},
  volume    = {70},
  journal   = {Regional science and urban economics},
  publisher = {Elsevier},
  address   = {Amsterdam},
  issn      = {0166-0462},
  doi       = {10.1016/j.regsciurbeco.2018.04.004},
  pages     = {204 -- 214},
  year      = {2018},
  abstract  = {Entrepreneurship is a regional and persistent phenomenon. We jointly investigate spatial dependence and serial dynamics of new business formation. Using panel data from all 402 German counties for 1996-2011, we estimate dynamic spatial panel data models of start-up activity in the high-tech and manufacturing industries. We consider regions of different sizes and systematically search for the most suitable spatial weights matrices. We find substantial spatial dependence as well as time persistence of start-up activity, especially in the high-tech industry. This suggests that local start-up activity has positive extemal effects and that entrepreneurship policy could play an efficiency-enhancing role.},
  language  = {en}
}
@article{KononFritschKritikos2018,
  author    = {Konon, Alexander and Fritsch, Michael and Kritikos, Alexander},
  title     = {Business cycles and start-ups across industries},
  series = {Journal of Business Venturing Insights},
  volume    = {33},
  journal   = {Journal of Business Venturing Insights},
  number    = {6},
  publisher = {Elsevier},
  address   = {Amsterdam},
  issn      = {0883-9026},
  doi       = {10.1016/j.jbusvent.2018.04.006},
  pages     = {742 -- 761},
  year      = {2018},
  abstract  = {We analyze whether start-up rates in different industries systematically change with business cycle variables. Using a unique data set at the industry level, we mostly find correlations that are consistent with counter-cyclical influences of the business cycle on entries in both innovative and non-innovative industries. Entries into the large-scale industries, including the innovative part of manufacturing, are only influenced by changes in the cyclical component of unemployment, while entries into small-scale industries, like knowledge intensive services, are mostly influenced by changes in the cyclical component of GDP. Thus, our analysis suggests that favorable conditions in terms of high GDP might not be germane for start-ups. Given that both innovative and non-innovative businesses react counter-cyclically in 'regular' recessions, business formation may have a stabilizing effect on the economy.},
  language  = {en}
}
@article{KononKritikos2018,
  author    = {Konon, Alexander and Kritikos, Alexander},
  title     = {Prediction based on entrepreneurship-prone personality profiles:},
  series = {Small business economics : an international journal},
  volume    = {53},
  journal   = {Small business economics : an international journal},
  number    = {1},
  publisher = {Springer},
  address   = {Dordrecht},
  issn      = {0921-898X},
  doi       = {10.1007/s11187-018-0111-8},
  pages     = {1 -- 20},
  year      = {2018},
  abstract  = {The human personality predicts a wide range of activities and occupational choices-from musical sophistication to entrepreneurial careers. However, which method should be applied if information on personality traits is used for prediction and advice? In psychological research, group profiles are widely employed. In this contribution, we examine the performance of profiles using the example of career prediction and advice, involving a comparison of average trait scores of successful entrepreneurs with the traits of potential entrepreneurs. Based on a simple theoretical model estimated with GSOEP data and analyzed with Monte Carlo methods, we show, for the first time, that the choice of the comparison method matters substantially. We reveal that under certain conditions the performance of average profiles is inferior to the tossing of a coin. Alternative methods, such as directly estimating success probabilities, deliver better performance and are more robust.},
  language  = {en}
}
@article{SorgnerFritschKritikos2017,
  author    = {Sorgner, Alina and Fritsch, Michael and Kritikos, Alexander},
  title     = {Do entrepreneurs really earn less?},
  series = {Small business economics : an international journal},
  volume    = {49},
  journal   = {Small business economics : an international journal},
  publisher = {Springer},
  address   = {Dordrecht},
  issn      = {0921-898X},
  doi       = {10.1007/s11187-017-9874-6},
  pages     = {251 -- 272},
  year      = {2017},
  abstract  = {Based on large representative German household survey data, we compare incomes of the self-employed with those of paid employees. We find that the entrepreneurial income gap is largest for those holding a tertiary degree, but in two directions: positive for employers (self-employed with further employees) and negative for solo entrepreneurs. Entrepreneurs holding a tertiary degree also face the greatest income variation. However, some solo self-employed earn more than their employed counterparts, in particular those with a university entrance degree as the highest level of education.},
  language  = {en}
}
@article{CaliendoHogenackerKuennetal.2015,
  author    = {Caliendo, Marco and Hogenacker, Jens and Kuenn, Steffen and Wiessner, Frank},
  title     = {Subsidized start-ups out of unemployment: a comparison to regular business start-ups},
  series = {Small business economics : an international journal},
  volume    = {45},
  journal   = {Small business economics : an international journal},
  number    = {1},
  publisher = {Springer},
  address   = {Dordrecht},
  issn      = {0921-898X},
  doi       = {10.1007/s11187-015-9646-0},
  pages     = {165 -- 190},
  year      = {2015},
  abstract  = {Offering unemployed individuals a subsidy to become self-employed is a widespread active labor market policy strategy. Previous studies have illustrated its high effectiveness to help participants escaping unemployment and improving their labor market prospects compared to other unemployed individuals. However, the examination of start-up subsidies from a business perspective has only received little attention to date. Using a new dataset based on a survey allows us to compare subsidized start-ups out of unemployment with regular business founders, with respect to not only personal characteristics but also business outcomes. The results indicate that previously unemployed entrepreneurs face disadvantages in variables correlated with entrepreneurial ability and access to capital. Nineteen months after start-up, the subsidized businesses experience higher survival, but lag behind regular business founders in terms of income, business growth and innovation. Moreover, we show that expected deadweight effects related to start-up subsidies occur on a (much) lower scale than usually assumed.},
  language  = {en}
}
@article{CaliendoFossenKritikos2014,
  author    = {Caliendo, Marco and Fossen, Frank and Kritikos, Alexander},
  title     = {Personality characteristics and the decisions to become and stay self-employed},
  series = {Small business economics : an international journal},
  volume    = {42},
  journal   = {Small business economics : an international journal},
  number    = {4},
  publisher = {Springer},
  address   = {Dordrecht},
  issn      = {0921-898X},
  doi       = {10.1007/s11187-013-9514-8},
  pages     = {787 -- 814},
  year      = {2014},
  abstract  = {Based on a large, representative German household panel, we investigate to what extent the personality of individuals influences the entry decision into and the exit decision from self-employment. We reveal that some traits, such as openness to experience, extraversion, and risk tolerance affect entry, but different ones, such as agreeableness or different parameter values of risk tolerance, affect exit from self-employment. Only locus of control has a similar influence on the entry and exit decisions. The explanatory power of all observed traits among all observable variables amounts to 30 \%, with risk tolerance, locus of control, and openness having the highest explanatory power.},
  language  = {en}
}
@article{CaliendoFossenKritikos2012,
  author    = {Caliendo, Marco and Fossen, Frank and Kritikos, Alexander},
  title     = {Trust, positive reciprocity, and negative reciprocity Do these traits impact entrepreneurial dynamics?},
  series = {Journal of economic psychology : research in economic psychology and behavioral economics},
  volume    = {33},
  journal   = {Journal of economic psychology : research in economic psychology and behavioral economics},
  number    = {2},
  publisher = {Elsevier},
  address   = {Amsterdam},
  issn      = {0167-4870},
  doi       = {10.1016/j.joep.2011.01.005},
  pages     = {394 -- 409},
  year      = {2012},
  abstract  = {Experimental evidence reveals that there is a strong willingness to trust and to act in both positively and negatively reciprocal ways. So far it is rarely analyzed whether these variables of social cognition influence everyday decision making behavior. We focus on entrepreneurs who are permanently facing exchange processes in the interplay with investors, sellers, and buyers, as well as needing to trust others and reciprocate with their network. We base our analysis on the German Socio-Economic Panel with its recently introduced questions about trust, positive reciprocity, and negative reciprocity to examine the extent that these variables influence the entrepreneurial decision processes. More specifically, we analyze whether (i) the willingness to trust other people influences the probability of starting a business; (ii) trust, positive reciprocity, and negative reciprocity influence the exit probability of entrepreneurs; and (iii) willingness to trust and to act reciprocally influences the probability of being an entrepreneur versus an employee or a manager. Our findings reveal that, in particular, trust impacts entrepreneurial development. Interestingly, entrepreneurs are more trustful than employees, but much less trustful than managers.},
  language  = {en}
}