Abstract

https://ssrn.com/abstract=2789174
 


 



Entrepreneurship and the School of Hard Knocks: Evidence from China's Great Famine


Junhong Chu


National University of Singapore (NUS) - Information & Innovation Policy Centre

Ivan P. L. Png


National University of Singapore (NUS)

Junjian Yi


National University of Singapore (NUS) - Department of Economics

June 2, 2016


Abstract:     
Many entrepreneurs proclaim proudly to have learned from the School of Hard Knocks rather than business schools. These claims challenge the social value of investments in entrepreneurship education and training. Yet, there is little empirical evidence of the effect of earlier life challenges on subsequent success in entrepreneurship. Here, we exploit geographical differences in the intensity of China's Great Famine, 1959-61, as a quasi-natural experiment to identify the effect of hardship. We find robust evidence of more entrepreneurship in counties that experienced greater hardship during the Famine. We investigate whether the difference is due to selective culling or conditioning of personality, and find evidence of adaptation towards greater risk tolerance.

Number of Pages in PDF File: 67

Keywords: Entrepreneurship, Hardship, Nurture, Famine, China

JEL Classification: L26, O15, O17


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Date posted: June 5, 2016  

Suggested Citation

Chu, Junhong and Png, Ivan P. L. and Yi, Junjian, Entrepreneurship and the School of Hard Knocks: Evidence from China's Great Famine (June 2, 2016). Available at SSRN: https://ssrn.com/abstract=2789174 or http://dx.doi.org/10.2139/ssrn.2789174

Contact Information

Junhong Chu
National University of Singapore (NUS) - Information & Innovation Policy Centre ( email )
Singapore
65-65166938 (Phone)
HOME PAGE: http://www.bschool.nus.edu.sg/staff_profile/cv.asp?ID=2292
Ivan P. L. Png (Contact Author)
National University of Singapore (NUS) ( email )
Singapore, 117543
Singapore
+65 6516-6807 (Phone)
HOME PAGE: http://sites.google.com/site/iplpng/
Junjian Yi
National University of Singapore (NUS) - Department of Economics ( email )
1 Arts Link, AS2 #06-02
Singapore 117570, Singapore 119077
Singapore
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