Date of this Version
Presented at the 2013 North American Meetings of the Regional Science Association International
Entrepreneurship choice is influenced by a number of contemporaneous variables including household wealth, spouse's education, gender, family composition, and health. Family background is another important factor; in particular whether a parent was involved in entrepreneurship. The long-running Panel Study of Income Dynamics provides an opportunity to examine the influence of parental entrepreneurship, from the 1960s and 1970s, on the entrepreneurship choices of middle-age Americans in the late 2000s. Consistent with previous literature, we find that parental experience is a consistent predictor of entrepreneurship choice for contemporary Americans. Our results, however, shed light in particular on the contribution of parental entrepreneurship when an individual was of school age or a young adult.