Is college education worth it? Evidence from its impacts on entrepreneurship in the United States. (2nd January 2016) - Guo, Xuguang
Abstract : Using the Current Population Survey (CPS) March Supplement data between 1989 and 2011, the article examines the impacts of college education on the likelihood of self-employment and on entrepreneurs' annual income in the United States. The primary results suggest that individuals with college education are more likely to have their own businesses than those without; entrepreneurs with college education receive a significantly higher annual income than those without. Specifically, college education is more effective in promoting Black and Hispanic entrepreneurs than other ethnic groups. Women with a college degree are more inclined to be self-employed and earn more than those without college education. However, the influences of college education are stronger for men than for women on self-employment and annual income.