Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/210911 
Year of Publication: 
2019
Series/Report no.: 
IFN Working Paper No. 1270
Publisher: 
Research Institute of Industrial Economics (IFN), Stockholm
Abstract: 
Are quantitative measures driven by small business activity also valid proxies for high-impact Schumpeterian entrepreneurship? We compile four hand-collected measures of high-impact Schumpeterian entrepreneurship (VC-funded IPOs, self-made billionaire entrepreneurs, unicorn start-ups, and young top global firms founded by individual entrepreneurs) and six measures dominated by small business activity as well as institutional and economic variables for 64 countries. Factor analysis reveals that much of the variation is accounted for by two distinct factors: one relating to high-impact Schumpeterian entrepreneurship and the other relating to small business activity. Except for the World Bank measure of firm registration of limited liability companies quantity-based measures tend to be inappropriate proxies for high-impact Schumpeterian entrepreneurship.
Subjects: 
Billionaire entrepreneurs
High-impact entrepreneurship
Innovation
Institutions
Schumpeterian entrepreneurship
Self-employment
JEL: 
L5
M13
O31
P14
Document Type: 
Working Paper

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