Entrepreneurship Among Knowledge Workers: Evidence from Equity Analyst Market

49 Pages Posted: 3 Oct 2001

See all articles by Boris Groysberg

Boris Groysberg

Harvard Business School

Ashish Nanda

Harvard Law School

M. Julia Prats

University of Navarra - IESE Business School

Date Written: September 2001

Abstract

What drives entrpreneurial activity among knowledge workers? Are stars more likely to become entrepreneurs? Analysis of entrepreneurial efforts from a panel data set of equity research analysts in investment banks over 1988-1996 (9,531 analyst-year combinations representing 2,602 individual analysts from 24 firms) reveals that (a) star knowledge workers are more likely than their non-star counterparts to become entrepreneurs, (b) the probability of entrepreneurial turnover for knowledge workers is greater in underperforming firms, and (c) the entrepreneurial activity of knowledge workers is procyclical with the performance of the economy.

Keywords: Knowledge Workers, Entrepreneurship, Turnover

JEL Classification: J44, M13, J63, J24

Suggested Citation

Groysberg, Boris and Nanda, Ashish and Prats, M. Julia, Entrepreneurship Among Knowledge Workers: Evidence from Equity Analyst Market (September 2001). Harvard NOM Research Paper No. 01-07; Harvard Business School Worker Paper No. 02011, Available at SSRN: https://ssrn.com/abstract=285797 or http://dx.doi.org/10.2139/ssrn.285797

Boris Groysberg

Harvard Business School ( email )

Soldiers Field
Boston, MA 02163
United States
617-496-2784 (Phone)
617-496-5271 (Fax)

Ashish Nanda (Contact Author)

Harvard Law School ( email )

1575 Massachusetts
Hauser 406
Cambridge, MA 02138
United States

M. Julia Prats

University of Navarra - IESE Business School ( email )

Avenida Pearson 21
Barcelona, 08034
Spain

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