Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/212223 
Year of Publication: 
2012
Series/Report no.: 
Bank of Finland Research Discussion Papers No. 20/2012
Publisher: 
Bank of Finland, Helsinki
Abstract: 
This paper uses entrepreneurs´ survival expectations around the time of market entry and subsequent venture exits to study entrepreneurial optimism. Using data on a large number of nascent entrepreneurs in the US and start-ups in Finland, we find that new entrepreneurs´ survival beliefs are on average optimistic but heterogeneous: Some are excessively optimistic, whereas a small subset holds unbiased beliefs. Entrepreneurial optimism is increasing in the relative (interpersonal) optimism and de- creasing in entrepreneurs´ level of education and industry experience in both countries. At least in Finland, those holding optimistic views are more likely to transit into entrepreneurship.
Subjects: 
entrepreneurship
survival
optimism
overestimation
JEL: 
D21
L20
Persistent Identifier of the first edition: 
ISBN: 
978-952-462-807-5
Document Type: 
Working Paper

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