Firm formation with heterogeneous management and labor skills

Boyan Jovanovic

    Research output: Contribution to journalArticlepeer-review


    When both management skills and labor skills differ in the population, the nature of firm formation can differ radically from the equilibrium we are used to dealing with: The best potential managers could end up as wage workers. This happens when managerial skills are positively correlated with working skills, and there is some empirical evidence that this is indeed the case.

    Original languageEnglish (US)
    Pages (from-to)185-191
    Number of pages7
    JournalSmall Business Economics
    Issue number3
    StatePublished - Jun 1994

    ASJC Scopus subject areas

    • General Business, Management and Accounting
    • Economics and Econometrics


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