Entrepreneurship as a People Business

Invitation Mirjam van Praag seminar 29 Jan 2018


Final Program for the Joint CEPR conferences on Incentive, Management and organization and Entrepreneurship

Copenhagen, 7-9 September 2017

Organised by

The Maersk Mc-Kinney Møller Chair in the INO department of the Copenhagen Business School,

The Niels Bohr Chair at the Department of Economics, University of Copenhagen, and

the Centre for Economic Policy Research (CEPR)



Thursday 7 September
8:30-9:00 Registration
9:00-10:00 Making Managers Matter

Matthias Heinz, University of Cologne & CEPR (with Guido Friebel and Nick Zubanov)
Discussant: Maria Guadalupe, INSEAD & CEPR

10:00-11:00 The Diffusion of Knowledge via Managers’ Mobility

Giordano Mion, University of Sussex & CEPR (with Luca David Opromolla and Alessandro Sforza)
Discussant: Giovanni Valentini, IESE

11:00-11:30 Coffee Break
Communication and Organization
11:30-12:30 Is Distance Dead? Face-to-Face Communication and Productivity in Teams

Jordi Blanes i Vidal, London School of Economics & CEPR (with Diego Battiston and Tom Kirchmaier)

Discussant: Tore Ellingsen, Stockholm School of Economics & CEPR

12:30-13:30 Communication and the organization of firms across space

Anna Gumpert, LMU Munich (with Henrike Steimer and Manfred Antoni)

Discussant: Alexandra Roulet, INSEAD

Jean-Etienne de Bettignies, Smith School of Business, Queens University and Alexandra Roulet, INSEAD

13:30-14:30 Lunch
 Institutional Structures
14:30-15:30 Do Multinationals Transplant their Business Model?

Dalia Marin, Universität München & CEPR (with Linda Rousova and Thierry Verdier)

Discussant: Laurent Bach, Stockholm School of Economics

15:30-16:30 Caught with the Hand in the Cookie Jar: Firm Growth and Labor Reallocation after Exposure of Corrupt
Margarita Tsoutsoura, Chicago Booth (with Spyridon Lagaras and Jacopo Ponticelli)Discussant: Pat Akey, University of Toronto
16:30-17:00 Coffee Break
Boards and Gender
17:00-18:00 The Effect of Board Quotas on Female Director Turnover
Daniel Ferreira, London School of Economics & CEPR (with Edith Ginglinger, Marie-Aude Laguna and Yasmine Skalli)Discussant: Mariassunta Giannetti, Stockholm School of Economics & CEPR
Friday 8 September
8:30-9:30 Keynote Speech
Luigi Zingales, University of Chicago & CEPR
9:30-10:30 How Wise Are Crowd? A Comparative Study of Crowd and Institutions in Peer-to-Business Online Lending Markets

Ali Mohammadi, Royal Institute of Technology (KTH) and Swedish house of finance

Discussant: Steffen Andersen, Copenhagen Business School & CEPR

10:30-10:45 Coffee Break
10:45-11:45 Are They All Like Bill, Mark, and Steve? The Education Premium for Entrepreneurs

Fabiano Schivardi, Università Bocconi & CEPR (with Claudio Michelacci)

Discussant: Morten Sørensen, Copenhagen Business School & CEPR

11:45-12:45 Keynote Speech

“Who Gets Hired? The Importance of Competition Among Applicants”
Ed Lazear, Stanford University

12:45-14:00 Lunch
Entrepreneurial careers
14:00-15:00 Entrepreneurial beginning, happy ending? Entrepreneurship upon graduation and lifetime earnings

Adrián Mérida, Copenhagen Business School (with Hans Chrstian Kongsted, Vera Rocha, and Mirjam Van Praag)

Discussant: Henry Sauermann, ESMT Berlin

15:00-16:00 Self-Employment Dynamics and the Returns to Entrepreneurship

Christopher Stanton, Harvard Business School & CEPR (with Eleanor W. Dillon)
Discussant: Hans K. Hvide, University of Bergen & CEPR

16:00-16:30 Coffee Break
Entrepreneurship policies
16:30-17:30 The Externalities of Corruption: Evidence from Entrepreneurial Activity in China

Mariassunta Giannetti, Stockholm School of Economics & CEPR (with Guanmin Liao, Jiaxing You and Xiaoyun Yu)

Discussant: Otto Toivanen, Katholieke Universiteit Leuven & CEPR

17:30-18:30 Fostering Entrepreneurship: Promoting Founding or Funding?

Thomas Hellman, Saïd Business School (with Veikko Thiele)

Discussant: Yossi Spiegel, Tel-Aviv University & CEPR

Saturday 9 September 
9:00-10:00 Self-employment and satisfaction with life, work, and leisure

Niels Rietveld, Erasmus University (with Peter van der Zwan and Jolanda Hessels)

Discussant: Randolph Sloof, University of Amsterdam

10:00-11:00 Asymmetric Information and Entrepreneurship

Justin Tumlinson, Loughborough University (with Deepak Hegde)

Discussant: Vera Rocha, Copenhagen Business School

11:00-12:00 Playing on Both sides of the market: Evidence from a crowdfunding platform

David Zvilichovsky, Tel Aviv University

Discussant: Thomas Åstebro, HEC Paris

12:00-13:00 Wrap up and lunch

Registration for the CEPR workshops now open

The joint workshops on the Economics of Entrepreneurship and Incentives, Management and Organisation will take place from the 7th to the 9th of September 2017.

The joint workshop on the morning of Friday 8th September will include keynote speeches by:
Edward Lazear (Stanford Graduate School of Business)
Luigi Zingales (University of Chicago, Booth School of Business and CEPR)

We hope that many researchers will be able to join both parts of the event, which will be hosted by University of Copenhagen and Copenhagen Business School. The schedule of the workshops will be as follows:
Thursday 7th September – Incentives, Management and Organisation Workshop
Friday 8th September AM – Joint workshop on Entrepreneurship and Organisation
Friday 8th September PM and Saturday 9th September AM – Entrepreneurship Workshop

Registration is free. Find out more: https://sf.cbs.dk/ceprworkshops

Mirjam van Praag appointed member of board

From 1 March 2017 Professor Mirjam van Praag has been appointed a member of the new Supervisory Board of the Netherlands Organisation for Scientic Research (NWO).

Round table discussion at DEA: Education in innovative entrepreneurship – What is the role of universities?

Entrepreneurs play a significant role in the Danish economy. They sow the seeds of future jobs and solutions for the grand societal challenges of our time. However, creating more entrepreneurs is no guarantee of strengthening the national economy, according to a new review of the research literature.Most entrepreneurs do not employ personnel, are home-based, and earn low incomes (1).

Most new jobs and economic growth are generated by a small number of innovative, high-growth ventures. According to research, innovative entrepreneurship is different from other forms of entrepreneurship and requires different skills. But which skills are needed to succeed as an entrepreneur in an innovative start-up?

Politically, the Danish government has focused on entrepreneurship initiatives since 2002, increasingly stressing the need for exposing more students to entrepreneurship through the university education (2). But how and to what extent can universities be effective in building these skills?

DEA and the Mærsk Mc-Kinney Møller Chair in Entrepreneurship will host a roundtable discussion on the skills needed to succeed as an innovative entrepreneur, and the role of Danish universities in educating future generations of innovative entrepreneurs. In other words, the roundtable will focus on innovative entrepreneurs with a university degree.

The aim of the roundtable discussion is to provide DEA (3) with input to further qualify the public debate on strengthening the skills of the innovative entrepreneur. The roundtable discussion is prompted by the recent literature review on innovative entrepreneurs by J. Block, C. Fisch, and C. Mirjam van Praag. The discussion will be opened by a short introduction on what we know about university education in innovative entrepreneurship by Professor Mirjam van Praag, Maersk Mc-Kinney Møller Professor of Entrepreneurship at Copenhagen Business School.

The roundtable discussion will be held in English and take place on March 9 from 14.00-17.00, at Fiolstræde 44, room 4C, 1171 København K.

Participants in the roundtable discussion
1. Mærsk Mc-Kinney Møller Professor of Entrepreneurship at Copenhagen Business School, Mirjam van Praag
2. Søren Nedergaard, Head of Division, Danish Agency for Higher Education
3. Pernille Berg, Head of Research, Analysis & Higher Education, The Danish  Foundation for Entrepreneurship

Innovative entrepreneurs
4. Matias Møl Dalsgaard, PhD, CEO/Co-Founder of GoMore
5. Jon Friis, Founder & Innovation Manager of Miiskin
6. Rune Schostag Nielsen, COO and Co-founder at Volt ApS
7. Jonas Nilsen, Founder and CEO at Vaccination Europe ApS

University representatives engaged in entrepreneurship for students
8. Alan Irwin, Professor, Vice-president of Entrepreneurship & Innovation, Copenhagen Business School
9. Anne Sofie Dahlmann Breindahl, Project manager, AU Research Support and External Relations, Aarhus University
10. Carsten Nico Portefée Hjortsø, Associate Professor, project manager for Innovation and Entrepreneurship at UCPH, University of Copenhagen
11. Morten Dahlgaard, Senior Consultant, AAU Innovation & Research Support, SEA

(1) Joern H. Block, Christian O. Fisch, and Mirjam van Praag, “The Schumpeterian Entrepreneur: A Review of the Empirical Evidence on the Antecedents, Behaviour and Consequences of Innovative Entrepreneurship,” Industry and Innovation, August 9, 2016, 1–35, doi:10.1080/13662716.2016.1216397.
(2) DEA, “Entreprenørskab På Universiteterne – Fra Vision Til Hverdag,” 2014, http://dea.nu/sites/dea.nu/files/dea_-_entreprenoerskab_paa_universiteterne_-_fra_vision_til_hverdag_2014.pdf.
(3) Learn more about the Think Tank DEA: http://dea.nu/taenketanken-dea/the-think-tank-dea

Education in innovative entrepreneurship

– What does research tell us?

One often hears that entrepreneurs do not benefit from education. Innovative and successful entrepreneurship would rather require skills, such as creativity and perseverance, that one can learn in practice rather than in school. Drop-out entrepreneurs, such as Bill Gates, Ingvar Kamprad and Steve Jobs are great examples of this proposition. Given this common belief, it is rather surprising that many Western countries, including Denmark, invest vast and steeply increasing amounts in entrepreneurship education. What is wisdom here?

To address this question, research has been undertaken answering the following questions: Is (successful) entrepreneurship something one can learn or is it a genetic matter? In other words, is entrepreneurship success caused by nurture or nature? Studies using twins and adopted children can be used to address this question and show that entrepreneurship is certainly not only a genetic matter: nurture plays a twice as important role.

The follow-up question then is: Can entrepreneurship be learned through formal education? The answer is yes, as research shows: Entrepreneurs benefit a lot from their education, even more than employees. The important aspects one learns in school are, among others, analytical skills and technical skills. However, the largest part of the effect of education in general on entrepreneurship outcomes is yet unexplained and kept in a black box.

The third question that has been addressed by research is: Does specific entrepreneur education add value to teaching relevant knowledge, skills and attitudes to potential entrepreneurs? As it turns out, so far, the effects of entrepreneurship education programs have been scarcely tested in credible ways. Existing evaluation studies show disappointing effects. However, in particular, entrepreneurship education at a very young age contributes to relevant skill development, such as perseverance, motivating skills and creativity. We conclude that education can certainly be a valuable manner in which entrepreneurship skills are obtained. However, the optimal design of entrepreneurship education programs at a later age still needs to be determined.

Based on the following articles
Lindquist, M., Sol, J. & van Praag, C.M. (2015), Why do Entrepreneurial Parents have Entrepreneurial Children?  Journal of Labor Economics,  Vol. 33, No. 2, 4.2015, pp. 269-296

Rosendahl Huber, L., Sloof, R. & van Praag, C.M. (2014), The Effect of Early Entrepreneurship Education: Evidence from a Field Experiment  The European Economic Review, Vol. 72, 11.2014, pp. 76-97

Van Praag, C.M., van der Sluis, J. & van Witteloostuijn, A. (2012), The Higher Returns to Formal Education for Entrepreneurs versus Employees  Small Business Economics, 40, pp. 375-396

Hartog, J., van Praag, C.M. & van der Sluis, J. (2010), If you are so smart, why aren’t you an entrepreneur? Returns to cognitive and social ability: entrepreneurs versus employees   Journal of Economics and Management Strategy, 19 (4), pp. 947-989

Oosterbeek, H., van Praag, C.M. & Ysselstein, A. (2010), The impact of entrepreneurship education on entrepreneurship skills and motivation   The European Economic Review,  54 (3), pp. 442-454

Van Praag, C.M., van Der Sluis, J. & Vijverberg, W. (2008), Education and Entrepreneurship selection and performance: a review of the empirical literature  Journal of Economic Surveys, 22 (5), pp. 795-841

Parker, S. & van Praag, C.M. (2006), Schooling, capital constraints and entrepreneurial performance: The endogenous triangle  Journal of Business and Economic Statistics, 24 (4), pp. 416-431

The Fourth European Workshop on Entrepreneurship Economics held jointly with the Sixth Incentives, Management and Organisation Workshop

The 2017 edition of the Economics of Entrepreneurship workshop will be held together with the Incentives, Management and Organisation workshop from the 7th to the 9th of September 2017, and will include a joint workshop on Entrepreneurship and Organisation. Participants have the option of staying for the Entrepreneurship and joint parts only – starting in the morning of the 8th and ending in the early afternoon of the 9th – but they are warmly invited to attend the IMO part on the 7th as well.

SCHEDULE: We hope that many researchers will be able to join both parts of the event, which will be hosted by University of Copenhagen and Copenhagen Business School. The schedule of the workshops will be as follows:
– Thursday 7th September – Incentives, Management and Organization Workshop
– Friday 8th September AM – Joint workshop on Entrepreneurship and Organization
– Friday 8th September PM and Saturday 9th September AM – Entrepreneurship Workshop

SPEAKERS: The joint workshop on the morning of Friday 8th September will include keynote speeches by:
– Edward Lazear (Stanford Graduate School of Business)
– Luigi Zingales (University of Chicago, Booth School of Business and CEPR)

TOPICS: The Economics of Entrepreneurship Workshop will bring together researchers interested in studying entrepreneurship. We welcome submissions related to incentives promoting entrepreneurship, relevant program evaluations, entrepreneurship and institutions, financing entrepreneurship (venture capital/business angels), experimentation and entrepreneurship, job creation and entrepreneurship, entrepreneurship in the theory of the firm, and entrepreneurship from an industrial organization perspective. We welcome theory, empirics, and experiments in these and related areas.

PAPER SUBMISSION PROCEDURE: The (draft) papers should be submitted by Wednesday 1 March 2017. Please send your paper submissions to Chloe Smith, Events Officer, at csmith@cepr.org before the deadline and indicate whether or not you would require travel and/or accommodation funding and whether you would be willing to act as a discussant on the programme.

FUNDING: Accommodation expenses will be covered for successful applicants. Participants are encouraged to fund their travel expenses from other sources, as only limited funding is available. Where financial support is offered, this will be in accordance with CEPR’s expense guidelines.

Luigi Guiso, Einaudi Institute for Economics and Finance and CEPR
Thomas Hellmann, Said Business School
William Kerr, Harvard Business School
Lars Persson, Research Institute of Industrial Economics and CEPR
Mirjam van Praag, Copenhagen Business School
Fabiano Schivardi, Universita Bocconi and CEPR
Yossi Spiegel, Recanati Graduate School of Business Administration, Tel Aviv University and CEPR

Morten Bennedsen, University of Copenhagen, INSEAD and CEPR
Mirjam van Praag, Copenhagen Business School
Thomas Ronde, Copenhagen Business School and CEPR

Morten Bennedsen, University of Copenhagen, INSEAD and CEPR
Jette Poulsen Jorgensen, Copenhagen Business School
Lena Dalsbo Petersen, Copenhagen Business School
Mirjam van Praag, Copenhagen Business School
Thomas Ronde, Copenhagen Business School and CEPR
Marije de Roos, Copenhagen Business School

The Danish Industrial Foundation
The Danish National Research Foundation

How to behave as an entrepreneur

At the annual CBS Entrepreneurial Day 29 September, Mirjam van Praag gave a talk together with real life entrepreneur Arko van Brakel on how to behave as an entrepreneur. You can see the full talk here.