| By: |
Rosendahl Huber, Laura (University of Amsterdam);
Sloof, Randolph (University of Amsterdam);
van Praag, Mirjam (Copenhagen Business School) |
| Abstract: |
Previous empirical studies have shown that solo entrepreneurs benefit from
having balanced skills: Jacks-of-All-Trades (JATs) are better entrepreneurs
than specialists are. Nowadays however, the majority of entrepreneurs start up
and run ventures together in teams. In this paper we test whether the effect
of more balanced skills is also positive in a team of entrepreneurs. We also
explore whether (a lack of) individual balanced skills can be substituted by
combining the skills of various specialists within one team. Our field
experiment studies teams of children participating in an entrepreneurship
education program. Based on pupils' precisely measured level of verbal and
mathematical ability, we exogenously compose 179 teams separated into four
different types: JAT teams, math-specialist teams, verbal-specialist teams and
mixed specialist teams. Our results show that balanced skills are beneficial
to team performance, and that it is hard to substitute individual balanced
skills by combining different specialists within one team. |
| Keywords: |
skill balance, team diversity, team performance, entrepreneurship, field experiment |
| JEL: |
C93 D83 J24 L25 L26 M13 |
| Date: |
2014–06 |
| URL: |
https://d.repec.org/n?u=RePEc:iza:izadps:dp8237 |