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Research Seminar with Toke Reichstein
October 7, 2015 @ 12:00 am - 1:15 pm
The Unpredictably Stable Entrepreneurs
Tokes work challenges the conventional belief that entrepreneurship is an unstable career path. Entrepreneurship is shown to decrease rather than increase individuals’ turnover tendencies. This finding persists after controlling for lock-in effects associated with sunk costs and unfavorable outside options. Entrepreneurship is argued to represent a high quality match for individuals who otherwise portray above average turnover rates. Arguably, matching emerges from (I) preferences for independence, (ii) skills composition, and (iii) redeployability of human capital into new settings. The counter-intuitive finding – entrepreneurship yields greater employment stability – has fundamental implications for our understanding of entrepreneurship entry and labor market dynamics.
Bio in brief
Toke Reichstein’s research interest in entrepreneurship investigates regularities at the individual level aiming to disentangle the premises that drives individuals into self-employment and under what circumstances the newly established firm tend to succeed. His work in technology licensing and innovation departs at the firm level and seek to marry contractual economics and management of open innovation in the pursuit of an more complete understanding of the best practices in terms of drawing on external partnering for retrieving information and knowledge beneficial in the firms innovation activities.