With a little help from my (random) friends: Success and failure in post-business school entrepreneurship

Review of Financial Studies

Volumn 26, Issue 10, 2013, Pages 2411-2452

  Lerner, Josh ^a   Malmendier, Ulrike ^b  

^a HARVARD UNIVERSITY   (United States)

^b UNIVERSITY OF CALIFORNIA   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 84889590455     PISSN: 08939454     EISSN: 14657368     Source Type: Journal    
DOI: 10.1093/rfs/hht024     Document Type: Review

References (44)

1. American Sports Data. 2005. A Comprehensive Study of Sports Injuries in the U.S. Cortlandt Manor, NY: American Sports Data.
2. Arabsheibani, G., D. De Meza, J. Maloney, and B. Pearson. 2000. And a vision appeared unto them of a great profit: Evidence of self-deception among the self-employed. Economic Letters 67:35-41.
3. Baruch, Y. 1999. Response rates in academic studies - a comparative analysis. Human Relations 52:421-38.
4. Bernardo, A., and I. Welch. 2001. On the evolution of overconfidence and entrepreneurship. Journal of Economics & Management Strategy 10:301-30.
5. Bhide, A. 2003. The Origins and Evolution of New Businesses. New York: Oxford University Press.
6. Brav, A., and P. Gompers. 1997. Myth or reality? The long-run underperformance of initial public offerings: Evidence from venture and nonventure capital-backed companies. Journal of Finance 52:1791-821.
7. Broughton, P. D. 2008. Ahead of the Curve: Two Years at Harvard Business School. New York: Penguin.
8. Camerer, C., and D. Lovallo. 1999. Overconfidence and excess entry: An experimental approach. American Economic Review 89:306-18.
9. Cohen, L., A. Frazzini, and C. J. Malloy. 2008. The small world of investing: Board connections and mutual fund returns. Journal of Political Economy 116:951-79.
10. -. 2010. Sell-side school ties. Journal of Finance 65:1409-37.
11. Cruikshank, J. L. 2005. Shaping the Waves: A History of Entrepreneurship at Harvard Business School. Boston: Harvard Business School Publishing.
12. Davis, S. J., J. C. Haltiwanger, and S. Schuh. 1998. Job Creation and Destruction. Cambridge, Massachusetts: MIT Press.
13. De Meza, D., and C. Southey. 1996. The borrower's curse: Optimism, finance, and entrepreneurship. Economic Journal 106:375-86.
14. Djankov, S., R. La Porta, F. Lopez-de-Silanes, and A. Shleifer. 2002. The regulation of entry. Quarterly Journal of Economics 117:1-37.
15. Duflo, E., and E. Saez. 2002. Participation and investment decisions in a retirement plan: The influence of colleagues' choices. Journal of Public Economics 85:121-48.
16. -. 2003. The role of information and social interactions in retirement plan decisions: Evidence from a randomized experiment. Quarterly Journal of Economics 118:815-42.
17. Eesley, C, D. Hsu, and E. Roberts. 2007. Entrepreneurs from technology-based universities: Evidence from MIT. Research Policy 36:768-88.
18. Evans, D. S., and L. S. Leighton. 1989. Some empirical aspects of entrepreneurship. American Economic Review 79:519-35.
19. Ewing, D. W. 1990. Inside Harvard Business School: Strategies and Lessons of America's Leading School of Business. New York: Times Books.
20. Giannetti, M., and A. Simonov. 2009. Social interactions and entrepreneurial activity. Journal of Economics and Management Strategy 18:665-709.
21. Gompers, P. A., A. Kovner, J. Lerner, and D. Scharfstein. 2010. Performance persistence in entrepreneurship. Journal of Financial Economics 96:18-32.
22. -. 2008. Venture capital investment cycles: The impact of public markets. Journal of Financial Economics 87:1-23.
23. Gompers, P. A., J. Lerner, and D. Scharfstein. 2005. Entrepreneurial spawning: Public corporations and the genesis of new ventures, 1986 to 1999. Journal of Finance 60:577-614.
24. Hall, R. E., and S. E. Woodward. 2010. The burden of the nondiversifiable risk of entrepreneurship. American Economic Review 100:1163-94.
25. Hamilton, B. 2000. Does entrepreneurship pay? An empirical analysis of the returns to self-employment. Journal of Political Economy 108: 604-31.
26. Hurst, E. K., and B. W. Pugsley. Forthcoming. What do small businesses do? Brookings Papers on Economic Activity.
27. Jovanovic, B. 1982. Selection and the evolution of industry. Econometrica 50:649-70.
28. Kanniainen, V., and C. Keuschnigg. 2004. Venture Capital, Entrepreneurship, and Public Policy. Cambridge, Massachusetts: MIT Press.
29. Kaplan, S. and A. Schoar. 2005. Private equity performance: Returns, persistence, and capital flows. Journal of Finance 60:1791-823.
30. Katz, J. A. 2004. Survey of Endowed Positions in Entrepreneurship and Related Fields in the United States. St Louis, Missouri: J. A. Katz and Associates.
31. Kerr, W., J. Lerner and A. Schoar. Forthcoming. The consequences of entrepreneurial finance: Evidence from angel financings. Review of Financial Studies.
32. Korteweg, A. and M. Sorensen. 2010. Risk and return characteristics of venture capital-backed entrepreneurial companies. Review of Financial Studies 23:3738-72.
33. Kremer, M. and D. Levy. 2008. Peer effects and alcohol use among college students. Journal of Economic Perspectives 22:189-206.
34. Landier, A., and D. Thesmar. 2009. Financial contracting with optimistic entrepreneurs: Theory and evidence. Review of Financial Studies 22:117-50.
35. Manski, C. F 1993. Identification of endogenous social effects: The reflection problem. Review of Economic Studies 60:531-42.
36. Moskowitz, T. and A. Vissing-Jorgensen. 2002. The returns to entrepreneurial investment: A private equity premium puzzle? American Economic Review 92:745-78.
37. Nanda, R., and J. Sorensen. 2010. Workplace peer effects and entrepreneurship. Management Science 56:1116-26.
38. National Venture Capital Association. 2005. 2005 Venture Capital Yearbook. Newark, New Jersey: Venture Economics.
39. Orth, C. D., III. 1963. Social Structure and Learning Climate: The First Year at the Harvard Business School. Boston: Division of Research, Graduate School of Business Administration, Harvard University.
40. Parker, S. C. 2004. The Economics of Self-Employment and Entrepreneurship. New York: Cambridge University Press.
41. Phalippou, L., and O. Gottschalg. 2009. The performance of private equity funds. Review of Financial Studies 22:1747-76.
42. Ritter, J. 1991. The long-run performance of initial public offerings. Journal of Finance 46:3-27.
43. Sacerdote, B. 2001. Peer effects with random assignment: Results for dartmouth roommates. Quarterly Journal of Economics 116: 681-704.
44. Shue, K. 2011. Executive networks and firm policies: Evidence from the random assignment of MBA peers. Unpublished Paper, Harvard University.