@article{CaliendoGraeberKritikosetal.2022, author = {Caliendo, Marco and Graeber, Daniel and Kritikos, Alexander and Seebauer, Johannes}, title = {Pandemic depression}, series = {Entrepreneurship theory and practice}, volume = {47}, journal = {Entrepreneurship theory and practice}, number = {3}, publisher = {SAGE Publishing}, address = {Thousand Oaks}, issn = {1042-2587}, doi = {10.1177/10422587221102106}, pages = {788 -- 830}, year = {2022}, abstract = {We investigate the effect of the COVID-19 pandemic on self-employed people's mental health. Using representative longitudinal survey data from Germany, we reveal differential effects by gender: whereas self-employed women experienced a substantial deterioration in their mental health, self-employed men displayed no significant changes up to early 2021. Financial losses are important in explaining these differences. In addition, we find larger mental health responses among self-employed women who were directly affected by government-imposed restrictions and bore an increased childcare burden due to school and daycare closures. We also find that self-employed individuals who are more resilient coped better with the crisis.}, language = {en} } @techreport{CaliendoGraeberKritikosetal.2022, type = {Working Paper}, author = {Caliendo, Marco and Graeber, Daniel and Kritikos, Alexander and Seebauer, Johannes}, title = {Pandemic Depression: COVID-19 and the Mental Health of the Self-Employed}, series = {CEPA Discussion Papers}, journal = {CEPA Discussion Papers}, number = {46}, issn = {2628-653X}, doi = {10.25932/publishup-54899}, url = {http://nbn-resolving.de/urn:nbn:de:kobv:517-opus4-548999}, pages = {65}, year = {2022}, abstract = {We investigate the effect of the COVID-19 pandemic on self-employed people's mental health. Using representative longitudinal survey data from Germany, we reveal differential effects by gender: whereas self-employed women experienced a substantial deterioration in their mental health, self-employed men displayed no significant changes up to early 2021. Financial losses are important in explaining these differences. In addition, we find larger mental health responses among self-employed women who were directly affected by government-imposed restrictions and bore an increased childcare burden due to school and daycare closures. We also find that self-employed individuals who are more resilient coped better with the crisis.}, language = {en} } @article{CaliendoFossenKritikos2021, author = {Caliendo, Marco and Fossen, Frank M. and Kritikos, Alexander}, title = {Personality characteristics and the decision to hire}, series = {Industrial and corporate change}, volume = {31}, journal = {Industrial and corporate change}, number = {3}, publisher = {Oxford University Press}, address = {Oxford}, issn = {0960-6491}, doi = {10.1093/icc/dtab062}, pages = {736 -- 761}, year = {2021}, abstract = {As the policy debate on entrepreneurship increasingly centers on firm growth in terms of job creation, it is important to understand whether the personality of entrepreneurs drives the first hiring in their firms. Using the German Socio-Economic Panel (SOEP), we analyze to what extent personality traits influence the probability of becoming an employer. The results indicate that personality matters. Risk tolerance unfolds the strongest influence on hiring, shortening the time until entrepreneurs hire their first employee; the effect size of a one-standard-deviation increase in risk tolerance is similar to that of having a university degree. Moreover, individuals who are more open to experience, more conscientious, and more trustful are more likely to hire upon establishing their business.}, 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} } @unpublished{CaliendoKritikos2012, author = {Caliendo, Marco and Kritikos, Alexander}, title = {Searching for the entrepreneurial personality New evidence and avenues for further research}, 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.2011.06.001}, pages = {319 -- 324}, year = {2012}, language = {en} } @techreport{CaliendoKritikosRodriguezetal.2023, type = {Working Paper}, author = {Caliendo, Marco and Kritikos, Alexander and Rodriguez, Daniel and Stier, Claudia}, title = {Self-Efficacy and Entrepreneurial Performance of Start-Ups}, series = {CEPA Discussion Papers}, journal = {CEPA Discussion Papers}, number = {61}, issn = {2628-653X}, doi = {10.25932/publishup-57252}, url = {http://nbn-resolving.de/urn:nbn:de:kobv:517-opus4-572527}, pages = {41}, year = {2023}, abstract = {Self-efficacy reflects the self-belief that one can persistently perform difficult and novel tasks while coping with adversity. As such beliefs reflect how individuals behave, think, and act, they are key for successful entrepreneurial activities. While existing literature mainly analyzes the influence of the task-related construct of entrepreneurial self-efficacy, we take a different perspective and investigate, based on a representative sample of 1,405 German business founders, how the personality characteristic of generalized self-efficacy influences start-up performance as measured by a broad set of business outcomes up to 19 months after business creation. Outcomes include start-up survival and entrepreneurial income, as well as growth-oriented outcomes such as job creation and innovation. We find statistically significant and economically important positive effects of high scores of self-efficacy on start-up survival and entrepreneurial income, which become even stronger when focusing on the growth-oriented outcome of innovation. Furthermore, we observe that generalized self-efficacy is similarly distributed between female and male business founders, with effects being partly stronger for female entrepreneurs. Our findings are important for policy instruments that are meant to support firm growth by facilitating the design of more target-oriented offers for training, coaching, and entrepreneurial incubators.}, language = {en} } @article{CaliendoKritikosRodriguezetal.2023, author = {Caliendo, Marco and Kritikos, Alexander and Rodr{\´i}guez, Daniel and Stier, Claudia}, title = {Self-efficacy and entrepreneurial performance of start-ups}, series = {Small business economics}, journal = {Small business economics}, publisher = {Springer Science}, address = {Dordrecht}, issn = {0921-898X}, doi = {10.1007/s11187-022-00728-0}, pages = {25}, year = {2023}, abstract = {Self-efficacy reflects the self-belief that one can persistently perform difficult and novel tasks while coping with adversity. As such beliefs reflect how individuals behave, think, and act, they are key for successful entrepreneurial activities. While existing literature mainly analyzes the influence of the task-related construct of entrepreneurial self-efficacy, we take a different perspective and investigate, based on a representative sample of 1,405 German business founders, how the personality characteristic of generalized self-efficacy influences start-up performance as measured by a broad set of business outcomes up to 19 months after business creation. Outcomes include start-up survival and entrepreneurial income, as well as growth-oriented outcomes such as job creation and innovation. We find statistically significant and economically important positive effects of high scores of self-efficacy on start-up survival and entrepreneurial income, which become even stronger when focusing on the growth-oriented outcome of innovation. Furthermore, we observe that generalized self-efficacy is similarly distributed between female and male business founders, with effects being partly stronger for female entrepreneurs. Our findings are important for policy instruments that are meant to support firm growth by facilitating the design of more target-oriented offers for training, coaching, and entrepreneurial incubators.}, language = {en} } @article{CaliendoFossenKritikosetal.2015, author = {Caliendo, Marco and Fossen, Frank M. and Kritikos, Alexander and Wetter, Miriam}, title = {The Gender Gap in Entrepreneurship: Not just a Matter of Personality}, series = {CESifo economic studies : a joint initiative of Ludwig-Maximilians-Universit{\"a}t and Ifo Institute for Economic Research}, volume = {61}, journal = {CESifo economic studies : a joint initiative of Ludwig-Maximilians-Universit{\"a}t and Ifo Institute for Economic Research}, number = {1}, publisher = {Oxford Univ. Press}, address = {Oxford}, issn = {1610-241X}, doi = {10.1093/cesifo/ifu023}, pages = {202 -- 238}, year = {2015}, abstract = {Why do entrepreneurship rates differ so markedly by gender? Using data from a large representative German household panel, we investigate to what extent personality traits, human capital, and the employment history influence the start-up decision and can explain the gender gap in entrepreneurship. Applying a decomposition analysis, we observe that the higher risk aversion among women explains a large share of the entrepreneurial gender gap. We also find an education effect contributing to the gender difference. In contrast, the Big Five model and the current employment state have effects in the opposite direction, meaning that the gender gap in entrepreneurial entry would be even larger if women had the same scores and the same employment status as men. (JEL codes: L26, J16, D81, J24, M13).}, language = {en} } @article{CaliendoFossenKritikos2010, author = {Caliendo, Marco and Fossen, Frank and Kritikos, Alexander}, title = {The impact of risk attitudes on entrepreneurial survival}, issn = {0167-2681}, doi = {10.1016/j.jebo.2010.02.012}, year = {2010}, abstract = {Risk attitudes influence the complete life cycle of entrepreneurs. Whereas recent research underpins the theoretical proposition of a positive correlation between risk attitudes and the decision to become self-employed, the effects on survival are not as straightforward. Psychological research posits an inverse U-shaped relationship between risk attitudes and entrepreneurial survival. On the basis of experimentally validated data of the German Socio-Economic Panel (SOEP), we examine the extent to which risk attitudes influence survival rates in self-employment in Germany. The empirical results confirm that persons whose risk attitudes are in the medium range survive significantly longer as entrepreneurs than do persons with particularly low or high risk attitudes.}, language = {en} } @techreport{CaliendoKritikosStier2022, type = {Working Paper}, author = {Caliendo, Marco and Kritikos, Alexander and Stier, Claudia}, title = {The Influence of Start-up Motivation on Entrepreneurial Performance}, series = {CEPA Discussion Papers}, journal = {CEPA Discussion Papers}, number = {59}, issn = {2628-653X}, doi = {10.25932/publishup-57115}, url = {http://nbn-resolving.de/urn:nbn:de:kobv:517-opus4-571152}, pages = {43}, year = {2022}, abstract = {Predicting entrepreneurial development based on individual and business-related characteristics is a key objective of entrepreneurship research. In this context, we investigate whether the motives of becoming an entrepreneur influence the subsequent entrepreneurial development. In our analysis, we examine a broad range of business outcomes including survival and income, as well as job creation, expansion and innovation activities for up to 40 months after business formation. Using self-determination theory as conceptual background, we aggregate the start-up motives into a continuous motivational index. We show - based on a unique dataset of German start-ups from unemployment and non-unemployment - that the later business performance is better, the higher they score on this index. Effects are particularly strong for growth oriented outcomes like innovation and expansion activities. In a next step, we examine three underlying motivational categories that we term opportunity, career ambition, and necessity. We show that individuals driven by opportunity motives perform better in terms of innovation and business expansion activities, while career ambition is positively associated with survival, income, and the probability of hiring employees. All effects are robust to the inclusion of a large battery of covariates that are proven to be important determinants of entrepreneurial performance.}, language = {en} } @article{CaliendoKritikosStier2023, author = {Caliendo, Marco and Kritikos, Alexander and Stier, Claudia}, title = {The influence of start-up motivation on entrepreneurial performance}, series = {Small business economics}, volume = {61}, journal = {Small business economics}, publisher = {Springer Science+Business Media}, address = {Dordrecht}, issn = {0921-898X}, doi = {10.1007/s11187-022-00722-6}, pages = {869 -- 889}, year = {2023}, abstract = {Predicting entrepreneurial development based on individual and business-related characteristics is a key objective of entrepreneurship research. In this context, we investigate whether the motives of becoming an entrepreneur influence the subsequent entrepreneurial development. In our analysis, we examine a broad range of business outcomes including survival and income, as well as job creation, and expansion and innovation activities for up to 40 months after business formation. Using the self-determination theory as conceptual background, we aggregate the start-up motives into a continuous motivational index. We show - based on a unique dataset of German start-ups from unemployment and non-unemployment - that the later business performance is better, the higher they score on this index. Effects are particularly strong for growth-oriented outcomes like innovation and expansion activities. In a next step, we examine three underlying motivational categories that we term opportunity, career ambition, and necessity. We show that individuals driven by opportunity motives perform better in terms of innovation and business expansion activities, while career ambition is positively associated with survival, income, and the probability of hiring employees. All effects are robust to the inclusion of a large battery of covariates that are proven to be important determinants of entrepreneurial performance.}, 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} } @techreport{CaliendoFossenKritikos2019, type = {Working Paper}, author = {Caliendo, Marco and Fossen, Frank M. and Kritikos, Alexander}, title = {What Makes an Employer?}, series = {CEPA Discussion Papers}, journal = {CEPA Discussion Papers}, number = {13}, issn = {2628-653X}, doi = {10.25932/publishup-43736}, url = {http://nbn-resolving.de/urn:nbn:de:kobv:517-opus4-437360}, year = {2019}, abstract = {As the policy debate on entrepreneurship increasingly centers on firm growth in terms of job creation, it is important to better understand which variables influence the first hiring decision and which ones influence the subsequent survival as an employer. Using the German Socio-economic Panel (SOEP), we analyze what role individual characteristics of entrepreneurs play in sustainable job creation. While human and social capital variables positively influence the hiring decision and the survival as an employer in the same direction, we show that none of the personality traits affect the two outcomes in the same way. Some traits are only relevant for survival as an employer but do not influence the hiring decision, other traits even unfold a revolving door effect, in the sense that employers tend to fail due to the same characteristics that positively influenced their hiring decision.}, language = {en} }