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Title: Local Labor Force Education, New Business Characteristics, and Firm Performance
Citation Type: Journal Article
Publication Year: 2010
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Abstract: It is often asserted that a highly educated workforce is vital to improving the competitive position ofAmerican businesses, especially by boosting entrepreneurship. To examine this contention, we use populationCensus data and a new panel data of startup firms, to examine how the education and skill level ofthe local labor force are related to the creation and success of new businesses. This paper studies relationshipbetween education, entrepreneurship, and businesses outcomes, and considers simultaneously boththe education of the entrepreneur and of the workforce where the entrepreneurs operate their businesses.Consistent with this simultaneous focus, our initial results indicate that more educated entrepreneurstend to be located in metropolitan areas with more educated workforces. Moreover, highlyeducated areas have above average entrepreneurship rates. Finally, the level of education of entrepreneursis strongly related to positive business outcomes, especially for college graduates compared tothose with less than a four-year degree.
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Authors: Lewis, Ethan; Doms, Mark; Robb, Alicia
Periodical (Full): Journal of Urban Econonomics
Issue: 1
Volume: 67
Pages: 61-77
Data Collections: IPUMS USA
Topics: Education, Labor Force and Occupational Structure
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