000			01249nam a22001577a 4500
999			_c514432 _d514432
008			201102b ||||| |||| 00| 0 eng d
100			_aAzoulay, Pierre, et al _920740
245			_aAge and high-growth entrepreneurship
260			_aThe American Economic Review Insights
300			_a2(1), Mar, 2020: p.65-82
520			_aMany observers, and many investors, believe that young people are especially likely to produce the most successful new firms. Integrating administrative data on firms, workers, and owners, we study start-ups systematically in the United States and find that successful entrepreneurs are middle-aged, not young. The mean age at founding for the 1-in-1,000 fastest growing new ventures is 45.0. The findings are similar when considering high-technology sectors, entrepreneurial hubs, and successful firm exits. Prior experience in the specific industry predicts much greater rates of entrepreneurial success. These findings strongly reject common hypotheses that emphasize youth as a key trait of successful entrepreneurs.- Reproduced
650			_aVenture Capital; Brokerage; Ratings and Ratings Agencies _920741
773			_aThe American Economic Review Insights
906			_aINVESTMENT BANKING
942			_cAR