Download This PaperPartisan Entrepreneurship
Journal of Finance (accepted)
88 Pages Posted: 7 Apr 2021 Last revised: 15 Jul 2023
There are 2 versions of this paper
Partisan Entrepreneurship
Journal of Finance (accepted)
Number of pages: 88
Posted: 07 Apr 2021
Last Revised: 07 Sep 2024
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Partisan Entrepreneurship
NBER Working Paper No. w30249
Number of pages: 62
Posted: 18 Jul 2022
Last Revised: 14 Apr 2023
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7
Date Written: July 3, 2023
Abstract
Republicans start more firms than Democrats. In a sample of 40 million party-identified Americans between 2005 and 2017, we find that 5.5% of Republicans and 3.7% of Democrats become entrepreneurs. This partisan entrepreneurship gap is time-varying: Republicans increase their relative entrepreneurship during Republican administrations and decrease it during Democratic administrations, amounting to a partisan reallocation of 170,000 new firms over our 13-year sample. We find sharp changes in partisan entrepreneurship around the elections of President Obama and President Trump, and the strongest effects among the most politically active partisans: those that donate and vote.
Keywords: Entrepreneurship, Politics, Partisanship
JEL Classification: L26, G41, G51, M13
Suggested Citation: Suggested Citation
Engelberg, Joseph and Guzman, Jorge and Lu, Runjing and Mullins, William, Partisan Entrepreneurship (July 3, 2023). Journal of Finance (accepted), Available at SSRN: https://ssrn.com/abstract=3821106 or http://dx.doi.org/10.2139/ssrn.3821106
Jorge Guzman
Columbia University - Columbia Business School ( email )
3022 Broadway
New York, NY 10027
United States
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