Peculiarity of hybrid entrepreneurs – revisiting Lazear’s theory of entrepreneurship
Abstract
The aim of this study is to explore and elaborate the concept of hybrid entrepreneurship, i.e., a simultaneous mix of self-employment (entrepreneurship) and salary employment. Lazear’s theory of entrepreneurship is assessed in terms whether it can explain the phenomenon of being a hybrid entrepreneur. The hypothesis is that the probability of linking a salary job with one’s own business increases with the variety and level of education gained, the broadness of professional and management experience but also the level of entrepreneurial self-efficacy. The hypotheses are tested with multivariate logistic regression, using survey data gathered from 1600 entrepreneurs. In light of the results, Lazear’s theory cannot be unambiguously extended to the case of hybrid entrepreneurs. Although the probability of being a hybrid entrepreneur increases with broader professional and managerial experience, at the same time it diminishes as the level and diversity of education increase. The results suggest that hybrid entrepreneurs are an importantly discrete population and therefore need to be treated separately. The theoretical and practical implications of the results are discussed.
Keyword : hybrid entrepreneurship, part-time entrepreneurship, Lazear’s theory of entrepreneurship, jack-of-all-trades, entrepreneurial skills, career choice
How to Cite
Kurczewska, A. ., Mackiewicz, M. ., Doryń, W. ., & Wawrzyniak, D. . (2020). Peculiarity of hybrid entrepreneurs – revisiting Lazear’s theory of entrepreneurship. Journal of Business Economics and Management, 21(1), 277-300. https://doi.org/10.3846/jbem.2020.11959
This work is licensed under a Creative Commons Attribution 4.0 International License.
References
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Bryant, P. (2007). Self-regulation and decision heuristics in entrepreneurial opportunity evaluation and exploitation. Management Decision, 45(4), 732–748. https://doi.org/10.1108/00251740710746006
Burke, A. E., FitzRoy, F. R., & Nolan, M. A. (2008). What makes a die-hard entrepreneur? Beyond the ‘employee or entrepreneur’ dichotomy. Small Business Economics, 31(2), 93–115. https://doi.org/10.1007/s11187-007-9086-6
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Chen, C. C., Greene, P. G., & Crick, A. (1998): Does entrepreneurial self-efficacy distinguish entrepreneurs from managers? Journal of Business Venturing, 13(4), 295–316. https://doi.org/10.1016/S0883-9026(97)00029-3
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Dunn, T., & Holtz-Eakin, D. (2000). Financial capital, human capital, and the transition to self-employment: Evidence from intergenerational links. Journal of Labor Economics, 18(2), 282–305. https://doi.org/10.1086/209959
Dzomonda, O., & Masocha, R. (2018). Demystifying the nexus between social capital and entrepreneurial success in South Africa. Academy of Entrepreneurship Journal, 25(1), 1–10.
Evans, D. S., & Jovanovic, B. (1989). An estimated model of entrepreneurial choice under liquidity constraints. Journal of Political Economy, 97(4), 808–827. https://doi.org/10.1086/261629
Fayard, A.-L. (2019), Notes on the meaning of work: Labor, work, and action in the 21st century. Journal of Management Inquiry, pp. 1–14 (in press). https://doi.org/10.1177/1056492619841705
Ferreira, C., Robertson, J., Blair, A., McMullan, K., & Morrison, S. (2018). Look before you leap: An analysis of factors driving the transition from hybrid to full-time entrepreneurship. Summary Brief. In J. G. Fowler & J. Weiser (Eds.), Ethical decisions in lifestyle choices (pp. 286–287). Society for Marketing Advances Proceedings, November 2017. Louisville, Kentucky.
Folta, T. B., Delmar, F., & Wennberg, K. (2010). Hybrid entrepreneurship. Management Science, 56(2), 253–269. https://doi.org/10.1287/mnsc.1090.1094
Gartner, W. B. (1988). “Who is an entrepreneur?” is the wrong question. American Journal of Small Business, 12(4), 11–32. https://doi.org/10.1177/104225878801200401
Global Entrepreneurship Monitor. (2018). Global report 2017/18. https://www.gemconsortium.org/report/gem-2017-2018-global-report
Gomezelj, D., & Antončič, B. (2014). Employees’ knowledge determinants in SMEs: The case of Slovenia. Journal of Business Economics and Management, 16(2), 422–444. https://doi.org/10.3846/16111699.2012.734326
Gruenert, J. C. (1999). Second job entrepreneurs. Occupational Outlook Quarterly, 43(3), 18–26.
Hartog, J., Van Praag, 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 & Management Strategy, 19(4), 947–989. https://doi.org/10.1111/j.1530-9134.2010.00274.x
Hsieh, C., Parker, S. C., & van Praag, C. M. (2017). Risk, balanced skills and entrepreneurship. Small Business Economics, 48(2), 287–302. https://doi.org/10.1007/s11187-016-9785-y
International Standard Classification of Occupations (ISCO). (2007). Resolution Concerning Updating the International Standard Classification of Occupations. 34 p. www.ilo.org/public/english/bureau/stat/isco/docs/resol08.pdf
Jenkins, A. S., Wiklund, J., & Brundin, E. (2014). Individual responses to firm failure: Appraisals, grief, and the influence of prior failure experience. Journal of Business Venturing, 29(1), 17–33. https://doi.org/10.1016/j.jbusvent.2012.10.006
Kickul, J., Gundry, L. K., Barbosa, S. D., & Whitcanack, L. (2009). Intuition versus analysis? Testing Differential Models of Cognitive style on Entrepreneurial self–efficacy and the new venture creation process. Entrepreneurship Theory and Practice, 33(2), 439–453. https://doi.org/10.1111/j.1540-6520.2009.00298.x
Kihlstrom, R. E., & Laffont, J. J. (1979). A general equilibrium entrepreneurial theory of firm formation based on risk aversion. Journal of Political Economy, 87(4), 719–748. https://doi.org/10.1086/260790
Knatko, D., Shirokova, G., & Bogatyreva, K. (2016). Industry choice by young entrepreneurs in different country settings: The role of human and financial capital. Journal of Business Economics and Management, 17(4), 613–627. https://doi.org/10.3846/16111699.2015.1113199
Lazear, E. P. (2002). Entrepreneurship (Working Paper 9109). National Bureau of Economic Research. Cambridge. https://doi.org/10.3386/w9109
Lazear, E. P. (2005). Entrepreneurship. Journal of Labor Economics, 23(4), 649–680. https://doi.org/10.1086/491605
Lechmann, D. S. J., & Schnabel, C. (2014). Are the self-employed really jacks-of-all-trades? Testing the assumptions and implications of Lazear’s theory of entrepreneurship with German data. Small Business Economics, 42(1), 59–76. https://doi.org/10.1007/s11187-012-9464-6
McGee, J. E., Peterson, M., Mueller, S. L., & Sequeira, J. M. (2009). Entrepreneurial self-efficacy: Refining the measure. Entrepreneurship Theory and Practice, 33(4), 965–988. https://doi.org/10.1111/j.1540-6520.2009.00304.x
Nordström, C., Sirén, C. A., Thorgren, S., & Wincent, J. (2016). Passion in hybrid entrepreneurship: The impact of entrepreneurial teams and tenure. Baltic Journal of Management, 11(2), 167–186. https://doi.org/10.1108/BJM-01-2015-0007
O’Brien, J., & Folta, T. (2009). Sunk costs, uncertainty and market exit: A real options perspective. Industrial and Corporate Change, 18(5), 807–833. https://doi.org/10.1093/icc/dtp014
Pérez-Bustamante Ilander, G. O., Marques, C. S. E., S. Jalali, M., & Ferreira, A. F. F. (2016). The impact of continuous training in small and medium enterprises: Lessons from an industrial case analysis. Journal of Business Economics and Management, 17(2), 234–250. https://doi.org/10.3846/16111699.2014.938359
Petrova, K. (2012). Part-time entrepreneurship and financial constraints: Evidence from the panel study of entrepreneurial dynamics. Small Business Economics, 39(2), 473–493. https://doi.org/10.1007/s11187-010-9310-7
Petrova, K. (2011). Part-time entrepreneurship, learning and ability. Journal and Management Policy and Practice, 12(1), 64–75.
Raffiee, J., & Feng, J. (2014). Should I quit my day job? A hybrid path to entrepreneurship. Academy of Management Journal, 57(4), 936–963. https://doi.org/10.5465/amj.2012.0522
Saiz-Alvarez, J. (2019). New approaches and theories of entrepreneurship. M. Corrales-Estrada (Ed.), Innovation and entrepreneurship: A new mindset for emerging markets (pp. 13–30). Emerald Publishing Limited. https://doi.org/10.1108/978-1-78973-701-120191004
Schulz, M., Urbig, D., & Procher, V. (2016). Hybrid entrepreneurship and public policy: The case of firm entry deregulation. Journal of Business Venturing, 31(3), 272–286. https://doi.org/10.1016/j.jbusvent.2016.01.002
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