TY  - JOUR
A1  - Caliendo, Marco
A1  - Hogenacker, Jens
A1  - Kuenn, Steffen
A1  - Wiessner, Frank
T1  - Subsidized start-ups out of unemployment: a comparison to regular business start-ups
JF  - Small business economics : an international journal
N2  - 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.
KW  - Entrepreneurship
KW  - Start-up subsidies
KW  - Evaluation
KW  - Deadweight effects
KW  - Innovation
Y1  - 2015
U6  - https://doi.org/10.1007/s11187-015-9646-0
SN  - 0921-898X
SN  - 1573-0913
VL  - 45
IS  - 1
SP  - 165
EP  - 190
PB  - Springer
CY  - Dordrecht
ER  - 
TY  - JOUR
A1  - Caliendo, Marco
A1  - Fossen, Frank
A1  - Kritikos, Alexander
T1  - Personality characteristics and the decisions to become and stay self-employed
JF  - Small business economics : an international journal
N2  - 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.
KW  - Entrepreneurship
KW  - Personality
KW  - Big five
KW  - Risk tolerance
KW  - Locus of control
Y1  - 2014
U6  - https://doi.org/10.1007/s11187-013-9514-8
SN  - 0921-898X
SN  - 1573-0913
VL  - 42
IS  - 4
SP  - 787
EP  - 814
PB  - Springer
CY  - Dordrecht
ER  - 
TY  - JOUR
A1  - Caliendo, Marco
A1  - Fossen, Frank
A1  - Kritikos, Alexander
T1  - Trust, positive reciprocity, and negative reciprocity Do these traits impact entrepreneurial dynamics?
JF  - Journal of economic psychology : research in economic psychology and behavioral economics
N2  - 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.
KW  - Entrepreneurship
KW  - Trust
KW  - Reciprocity
Y1  - 2012
U6  - https://doi.org/10.1016/j.joep.2011.01.005
SN  - 0167-4870
VL  - 33
IS  - 2
SP  - 394
EP  - 409
PB  - Elsevier
CY  - Amsterdam
ER  -