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What Drives the Small Firm Effect?

出版	SSRN, 2022
URL	http://books.google.com.hk/books?id=6e_azwEACAAJ&hl=&source=gbs_api

註釋Heterogeneity in entrepreneurial entry has often been examined through the lens of the differences in founders' prior knowledge, especially prior work experience. In the context of this literature, scholars have argued that small firms (relative to large firms) facilitate the acquisition of knowledge relevant for entrepreneurship which, in turn, facilitates transitions to entrepreneurship (i.e., the “small firm effect”). An alternative explanation has emerged, arguing that the small firm effect is an artifact of large firms being better at intrapreneurship. To inform this debate, we utilize unique, nationally representative survey data providing rich details about the emergence of entrepreneurial ideas and their potential implementation inside vs. outside of incumbent firms. Consistent with the traditional explanation of the small firm effect, for the average worker, we find strong evidence that small firms (relative to large firms) are better at providing an environment that facilitates transitions to entrepreneurship. Technical workers, however, are more likely to attempt to implement ideas in larger firms relative to non-technical workers. This finding helps to reconcile contradicting evidence in prior studies. In addition to unpacking the black box of the drivers of the small firm effect, our study has broader implications for the recent discussion on the drivers of entrepreneurial dynamism.