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Do entrepreneurs need to go to college?

Eric Barker
November 26, 2011

No. Looks like their success is determined by intelligence and confidence, not formal education:

I investigate the effect of human capital on entrepreneurship using the National Longitudinal Survey of Youth – 1979. I find that individuals with higher measured intelligence and self-confidence are more likely to be entrepreneurs. Furthermore I present evidence suggesting that intelligence and self-confidence affect business ownership through two different channels: intelligence increases business survival while self-confidence increases business creation. Finally, once we control for intelligence and self-confidence the effect of formal college education almost completely vanishes. These results are robust to controlling for selection into entrepreneurship and selection into college.

Source: “Intelligence, Self-confidence and Entrepreneurship” from IFN Working Paper No. 887, 2011

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Post Information
Title Do entrepreneurs need to go to college?
Author Eric Barker
Date November 26, 2011 6:38 PM UTC (12 years ago)
Blog bakadesuyo
Archive Link https://theredarchive.com/blog/bakadesuyo/do-entrepreneurs-need-to-go-to-college.14995
https://theredarchive.com/blog/14995
Original Link https://www.bakadesuyo.com/2011/11/do-entrepreneurs-need-to-go-to-college/
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