ࡱ>  bjbjWW 55~Nf&&  4000h L048f(4LLt'4R'f' w7y7y7y7y7y7y7$:L=67Qr'&"'r'r'7  L(t7///r'8ttw7/r'w7//22tHb,$2c780482,=-h=2=2r'r'/r'r'r'r'r'77/r'r'r'48r'r'r'r'=r'r'r'r'r'r'r'r'r'& F: Fostering Entrepreneurial Societies: National Labor Market Policies and Preferences for Self-Employment Lena Hipp Wissenschaftszentrum Berlin fur Sozialforschung Berlin Germany Pamela S. Tolbert ILR/Cornell University Ithaca, NY Abstract In this study, we analyze the way in which national-level economic policies shape individuals preferences for being self-employed, using a multi-level data set created by merging individual-level survey data and archival information on labor market regulations and social policies in 21 OECD countries. We find that country-level labor market policies significantly affect preferences for self-employment but that these effects are contingent upon individual characteristics. While the preferences of individuals whose education and occupation make them more likely to succeed as entrepreneurs (good prospects) are unaffected by these policies, they decrease the likelihood that individuals with poor prospects low levels of education and in less-skilled occupations - want to become self-employed. We discuss the implications of our findings for theoretical work on entrepreneurship and for social policy. Many industrial countries have devoted an increasing effort in recent decades to fostering an enterprise culture, one that encourages individuals to create new businesses. Such efforts are aimed at both ensuring innovation and economic growth in communities, and managing persistent, high levels of unemployment (Acs, Audretsch & Strom, 2006; Apitzsch & Kontos, 2008; Hughes, 2005). How to create and sustain such a culture remain open questions, however, ones to which relatively little academic research has been devoted. Traditionally, a large part of the research on factors that give rise to entrepreneurial activity focused on individual predispositions and attitudes, such as risk-taking predilection, psychological need for achievement, desire for autonomy, and other individual characteristics (e.g., McClelland, 1965). In recent years, more sociologically-oriented researchers have begun to examine contextual influences on entrepreneurship, such as social networks, work and organizational experiences, and regional and local cultures (e.g., Romanelli & Schoonhoven, 2001; Saxenian, 1994; Sorenson, 2007; Tolbert, David and Sine, 2011; see Aldrich and Ruef, 2006, for a review). However, current work on contextual influences has given surprisingly little attention to the potential impact of governmental policies, despite the proliferation of many local, state and national policies aimed at encouraging entrepreneurship (Aronson, 1991; Audretsch, Grilo & Thurik, 2007). To date, most studies in the latter vein have focused narrowly on the impact of income tax policies, and relied on a strategy of exploring associations between such policies and rates of self-employment, often using aggregated data from the OECD, the Global Entrepreneurship Monitor Studies (GEM) or other sources of compiled statistics (Torrini 2005; Robson 2003; van Stel et al. 2007; Hevenstone 2010). Although this research has provided useful insights into the relation between government policies and entrepreneurial activities, the predominant focus and use of aggregated statistics restricts our understanding of how policies affect individual choices and behavior. Our research thus expands this tradition by examining and comparing the impact of several different types of national-level economic policies as predictors of individuals preferences for self-employment. That such preferences are a key element of the creation of an enterprise culture is attested by the consistent finding in the literature that the best predictor of individuals start-up activities is the desire to have ones own business (Franke & Luthje, 2000; Isfan & Moog, 2003; Krueger et al., 2000; Villanueva, Zellmer-Bruhn, Forbes & Sapienza, 2005). We focus specifically on the influence of national-level labor market policies, such as job protection and unemployment benefits, and argue that while the latter policies may not be purposely formulated to affect preferences for self-employment, they are likely to have important spill-over or unintended effects on preferences (see Anderson, 2009, and Hipp, 2011 for similar policy arguments). Using a multi-level data set that we created by merging micro-level survey data from 11,990 individuals in 21 countries with archival, country-level information on economic and labor market policies, we find support for this argument: Net of the effects of an array of individual and macro-level control variables, we find that national labor market and social welfare policies have a significant impact on individuals expressed preferences for self-employment. Importantly, our findings also indicate that these impacts are contingent upon whether individuals have qualifications that make them more likely to succeed in self-employment. The preferences of those defined as good prospects are largely unaffected by national labor market policies, but individuals whom we define as poor prospects are significantly less likely to desire to become self-employed in countries with policies that provide more generous unemployment benefits and family support. Below, we review extant work on determinants of entrepreneurial preferences as background for our analysis. In the following section, we describe our data and analytic approach before presenting our main findings. In concluding, we discuss the implications for further research, and for social policy. Background: Research on Determinants of Entrepreneurial Preferences As noted above, much of the earliest work on entrepreneurship reflected the aim of identifying distinctive psychological characteristics of entrepreneurs, examining an array of personality measures, such as need for achievement (McClelland, 1965; Hornaday and Aboud, 1971), locus of control (Jenks, 1965), and risk-taking propensity (Gasse, 1982). Conflicting results, along with the general lack of any guiding theoretical foundation for the research, led this approach to be largely abandoned by the mid-1980s (Brockhaus & Horwitz, 1986; Gartner, 1988). (We note, however, an apparent resurgence of interest in this approach in the literature on entrepreneurship in the last few years. See, for example, Stewart & Roth; 2001; Xu and Ruef, 2004; Zhao; Seibert and Lumpkin, 2010.) While it certainly seems plausible that individual differences affect propensities towards entrepreneurship, the limits to an individual level of analysis are suggested by often-observed patterns of geographic variation in rates of entrepreneurship (e.g., Saxenian, 1994; Romanelli & Khessina, 2005; Torrini, 2004). Efforts to explain such clusters of entrepreneurial activities solely in terms of individual dispositions clearly points up a necessary prior question: What social forces produced the congregation of individuals with such characteristics? Hence, evident problems and limitations of an individual-level approach helped to spur increased interest in understanding contextual influences on entrepreneurial behavior. Halaby (2003), for example, showed that individuals whose personal and family backgrounds provided them with greater labor market resources were more likely to hold entrepreneurial (versus bureaucratic) aspirations. His work also suggested the important effects of occupational inheritance: Individuals whose fathers were self-employed were significantly more likely to hold entrepreneurial job values. Relatedly, a number of studies have documented the strong effects of network ties to other entrepreneurs and geographic proximity to newly-founded firms on individuals propensity to create start-ups (Nanda & Sorenson, 2010; Romanelli & Khessina, 2005; Saxenian, 1994; Sorenson & Audia, 2000; Stuart & Sorenson, 2003). Taken as a whole, these studies provide strong evidence that exposure to other organizational founders is an important contextual influence on individuals entrepreneurial preferences. Although the connections between studies of geographic clustering and findings from work on variations in entrepreneurship among ethnic groups are not often drawn (e.g., Zhou, 2009), it seems likely that similar mechanisms are at work: both network-linked diffusion of knowledge and resources needed for entrepreneurial success, and formation of group norms supporting self-employment as an occupational choice (Tolbert, David and Sine, 2010). National Policies and Entrepreneurial Preferences Another aspect of context that might logically be expected to shape entrepreneurial attitudes and behavior is governmental economic policies. Surprisingly, there has been comparatively much less research conducted on this potential influence, and most that has been done has focused on geographic variations in rates of business foundings as outcome measures, and taxation rates as a key policy determinant. This work has yielded conflicting results. For example, using OECD panel data from 19 countries, Folster found a negative relation between the average level of self-employment and the average tax revenue in a country, a relationship that he replicated using data from a panel of 24 counties in Sweden over a 20 year period, as well. Similarly, Blau (1987), using time-series data from the U.S. found a negative relationship between taxation levels and male self-employment rates, though only among those in lower-earning brackets. The depressing effects of taxes on self-employment are typically explained in terms of lowered personal savings and thus, the lack of personal capital needed for start-up costs of a new venture. On the other hand, Schutze (2000), using 1983-1994 micro-data from Canada and the U.S., found a positive relation between tax rates and the probability of self-employment. Likewise, Blau (1987) found that, unlike the effects for men in low income brackets, higher tax rates were associated with increases in rates of self-employment for those in higher tax brackets. This seemingly paradoxical relationship at least to proponents of lower tax rates as a spur to small business creation is usually explained in terms of the advantages offered by self-employment for net income reporting. In line with this idea, Torrini (2005) used a measure of perceptions of corruption in government and business to index opportunities for tax evasion, and found a position relationship between this measure and rates of self-employment. This may relate to the finding by Hessels, van Gelderen & Thurik (2008) who showed that countries with higher social security contribution rates had a higher proportion of nascent entrepreneurs (those who had begun preparations for starting their own business) reporting that they felt that had no other options for work. One way to interpret this is that respondents felt there was no better way to avoid higher taxes. Despite the mixed results, these studies provide support for the general notion that government policies can indeed influence preferences for entrepreneurship albeit, perhaps, in unintended ways. Blaus (1987) work, in particular, also suggests the need to consider potentially differential impacts of policies on entrepreneurial outcomes; that is, individuals economic and other situational factors may lead them to respond to differently to a given policy. We pursue this issue, examining the impact of a number of national level economic policies, including ones that affect individuals job and financial security, on individuals preferences for self-employment. Our analysis is predicated on the common assumption that entrepreneurs often face risks that paid employees do not (e.g., taking on debt or the loss of a steady income stream). In this context, we note that a number of studies have pointed up a key distinction among the self-employed, often denoted by polarities such as opportunity versus necessity, push versus pull, voluntary versus involuntary, and so forth. As these terms suggest, entry into self-employment may be more or less by choice. In some cases, individuals have the ability to find employment with existing firms but find running their own business more attractive; in other cases, starting a business is driven by sheer economic necessity. It seems reasonable to expect the chances of entrepreneurial success to be much lower in the latter caser, and thus the overall riskiness of self-employment to be much higher. In this light, we argue that government labor market and income support policies may differentially affect sets of individuals in terms of entrepreneurial aspirations, depending on the possession of attributes that make them more or less likely to succeed as organizational founders. While the perceived costs of self-employment will be generally higher for individuals who lack resources that increase the chances of success, they will be comparatively lower in countries with few labor market protections or other provisions for economic support (e.g., unemployment benefits or subsidies to those with families). A few studies have begun to explore this issue, but as in the case of work on tax policies, these have produced equivocal results. Robson (2003) and van Stel et al. (2006), for example, find that countries with higher levels of dismissal protection are characterized by lower rates of self-employment, whereas Hevenstone (2010) finds a positive and Torrini (2005) no statistically significant association between dismissal protection and self-employment. In line with our arguments, we suggest that these contradictory findings may be due, at least in part, to the variation within the population of the self-employed. In this light, we expect that individuals who lack the skills and abilities to succeed in self-employment will be less likely to express a preference for becoming self-employed overall, but that this relationship will be weaker in countries with labor market policies that provide less job and income security, because the comparative risks of failing as an entrepreneur are lower in these contexts. Methods Data We examine these arguments by applying multi-level modeling techniques to a data set that we created by merging country-level information from the Organization of Economic Cooperation and Development (OECD), the World Bank (WB), and the GLOBE Study with individual-level data from the International Social Survey Program (ISSP). The ISSP is a research organization constituted and funded by member countries all over the world that conducts ongoing, collaborative surveys on various social and economic issues. Key topics in the survey change annually, and in 2005, the survey focused on individual work orientations and perceptions of job and employment security. The OECD and the World Bank regularly collect country-level information about important economic indicators, such as unemployment rates, economic growth, and labor market institutions (e.g., social expenditures for unemployment and other subsidies, employment laws and regulation, etc.). The agencies standardize the data to allow for international comparisons. By restricting the analysis to employed individuals (i.e. excluding the self-employed, inactive, and unemployed persons) in those countries for which macro-level indicators were available, our final data set was based on a total of 11,990 individual observations from 21 countries. (See Figure 1 for the list of countries.) The minimal number of observations per country is 513 (Great Britain) and the maximum number of observations is 1,434 (Taiwan). Dependent and Key Predictor Variables Our dependent variable is drawn from the ISSP data, using the item, Suppose you were working and could choose between different kinds of jobs. Which of the following would you personally choose? If respondents indicated, I would choose being self-employed, they were coded 1. If they responded, I would choose being an employee, they were coded 0. Figure 1 shows the percentage of respondents who indicated a preference for self-employment, broken down by country. As can be seen, there is considerable variation across countries, ranging from less than a quarter of respondents in Belgium and Finland who held such a preference, to around 60 percent in the United States and South Korea. -------------------------------- Insert Figure 1 about here -------------------------------- The main independent variables of interest for our study are the country-level measures of employee protection against dismissal, level of unemployment benefits in case of job loss, and subsidies aimed at helping unemployed start a new business. Our measure of dismissal protection is a composite variable taps legislative provisions and requirements raising the costs of individual dismissals, special requirements for collective dismissals, and restrictions on the use of employees specifically designated as temporary (OECD 2004: 65). Higher values indicate higher barriers to dismissal. A second measure captures the generosity of unemployment benefits, i.e., the average level of financial support workers receive in the event of lay-offs (measured per person in constant U.S. dollars for year 2000 and with constant purchasing power parity). Finally, we include a measure of expenditures dedicated to help business start-ups for the unemployed, an active labor market policy many countries use to help the unemployed find work (measured in per cent GDP adjusted by the number of unemployed). All of these three measures are provided by the OECD. In addition to specific labor market policies that are likely to shape individuals perceptions of the relative risks of entrepreneurship, we also examine the impact of policies that provide economic support to families. While not necessarily intended to affect job choices, we argue that, similarly to labor market policies, these are likely to affect the perceived riskiness of becoming self-employed. For example, some countries provide financial support to mothers and fathers who take parental leaves, to help cover the costs of lost income. Since taking such a leave is not typically an option for those who are self-employed, this policy may inadvertently raise the relative riskiness of leaving paid employment, and thus affect preferences for self-employment. On the other hand, policies that involve the subsidization of family services, such as daycare, may enable individuals to allocate more resources to entrepreneurial activities, and thus increase the perceived feasibility of self-employment. In this context, we examined two types of family support policies: the provision of cash benefits to families, including financial support for individuals taking parental leaves or child allowances; and subsidies for services used by families, such as day care. These variables are measured by the amount spent on each type of policy, as a percentage of a countrys GDP. To examine whether the impact of these policies on entrepreneurial preferences was affected by individual characteristics, we created measures of good and poor prospects for success in self-employment, based on two common indices of human capital, educational attainment and current occupation. These measures were based on data from the ISSP survey. Individuals whose level of educational attainment is in the lowest two categories of the ISSP measure (indicating less than a high school diploma or its equivalent), and who are in clerical, service or sales, semi- or unskilled occupations were coded 1 for poor prospects. For comparison, we also created a measure of good prospects, coding individuals with the two highest levels of education (i.e., those with a degree above higher secondary level or a completed university degree), and who work in managerial or professional occupations as 1. Each measure was interacted with national policy level variables to assess the potential differential effects of the policies. Control Variables To account for alternative explanations, we included a wide range of demographic, attitudinal, and contextual level variables in our models. On the individual level, these included: gender (1=female); marital status (1=single); presence of children in the household (1=yes); age and age squared (measured in years); education (based on a six-level measure, ranging from no formal qualification to university degree completed). Four dummy variables were used to index occupation; these tapped differences among managers and professionals, service workers (reference category), manual and agricultural workers, and elementary occupations (i.e., those requiring minimal skills and qualifications such as doorkeeping, cleaning, etc.). A dummy variable was also used to measure the effects of having supervisory responsibility in an individuals current job. In addition to these demographic and job-related measures, we included a variety of attitudinal measures, which have been associated with entrepreneurial preferences. Among these are items measuring risk aversion, assessed by the importance of job security, and aspiration levels, assessed by the importance the respondent attributes to income and career advancement. Along with these, the models contained measures of the value placed on working independently and having control of work time, as well as one indicating level of current job dissatisfaction. Our variables also included items measuring perceptions of potential advantages to self-employment, such as the perceived level of job security and the degree of work-life balance experienced by the self-employed. In both cases, higher values entail more positive perceptions. All of these measures were taken from ISSP survey data. Finally, on the country level, we control for unemployment rates and GDP growth rate (OECD measures), both intended to capture the current economic environment. We also assess the impact of the proportion of workers who are self-employed in the total workforce (OECD measure), both to tap any unmeasured factors that might shape perceptions of the benefits if self-employment, as well as the level of cultural acceptability of self-employment as an employment option. In the same vein, we include a national measure of uncertainty avoidance index, drawing on work by Hofstede (2001), to account for general risk-averse tendencies in the culture. Our final control variable is the costs of starting a business, based on a combined set of measures drawn from the World Banks assessment: the number of legal procedures associated with starting and operating a business, the time and the costs required to complete each procedure, and the capital requirements for registration of a business (for more information please see the World Banks Doing Business Database; World Bank 2012a). In order to create our measure, we standardize the single items and create an additive indicator. Higher values mean higher starting costs. All macro-level variables are standardized in order to be capable to meaningfully interpret the results of the analyses. The means, standard deviations, and correlations of all variables are displayed in Table 1. ------------------------------ Insert Table 1 about here ------------------------------ Analyses Because ouranalysis examines differences across countries and combines individual-level with national-level data, we estimate multilevel models to assess the impact of variables at each level. Ignoring the nested structure of the data would lead to underestimated standard errors and erroneous conclusions about the statistical significance of the relationships between the study variables (e.g., Rabe-Hesketh and Skrondal 2012; Raudenbush and Bryk 2002). Hence, we estimate a logistic random intercept model, that takes on the following form:  EMBED Equation.3  Here,  EMBED Equation.3  is the log odds that the individual i in country j prefers to be self-employed rather than employed by others, and 0 is the overall intercept k are the fixed individual and country- level parameters u0j is the country-specific deviation from the overall intercept ij is the residual for the ith individual in country j. Results The first model in Table 2 is based on a regression that does not include any predictors. Based on this empty model, we calculate the intra-class correlation ( (ICC) indicating how much of the variance in the dependent variable is due to differences between individuals versus country-level differences. The ICC Model 1 indicates that differences between countries do indeed play an important role in shaping individuals preferences for self-employment: Eight percent of the total variance in such expressed preferences is due the variation on level 2. The second model includes only individual-level predictors. In Model 3, all country-level predictors are included, and Model 4 and Model 5 include the cross-level interaction effects between our measures of individual prospects for successful self-employment and the relevant country-level variables. Since the effects of variables are quite stable across models, we focus on the full model with the cross-level interactions for our discussion. --------------------------------- Insert Table 2 about here ---------------------------------- Demographic characteristics are strongly linked to individuals preferences for self-employment. In line with previous research on actual self-employment (e.g., Aronson, 1991; Hughes, 2005), women are much less likely to indicate an interest in becoming entrepreneurs than men are. The presence of children in the household, however, is associated with an increased interest in becoming ones own boss, possibly due to the greater work control and flexibility often associated with self-employment. The significant coefficients for age and its squared term indicate that entrepreneurial interests initially decline with age, but later rise, presumably as individuals acquire greater work experience and skills. This is consistent with the common finding that actual self-employment is more likely to occur among older individuals (Aronson, 1991). Increasing education depresses entrepreneurial aspirations, mostly likely due to better employment opportunities for those with greater educational qualifications. (We examined models with a squared term for education, but the coefficient of this measure failed to attain significance.) While we found no statistically significant differences among occupational groups in entrepreneurial interests, individuals with supervisory responsibilities are significantly more likely to indicate such interest. This is consistent with work that finds positive effects of acquired work-related skills on propensities to become self-employed (e.g., Sorensen, 2007). All of the attitudinal measures we examined are also strongly influential in shaping preferences for self-employment. Items measuring the importance individuals attribute to job security and their preferences for independence at work are particularly strong predictors. Not surprisingly, the former is negatively related to an expressed interest in becoming self-employed, while the latter affects this positively. In line with the first result, our results indicate that when individuals perceive self-employment as increasing job security, they are very likely to express an interest in this employment option. Net of all these factors, individuals coded as having poor prospects for success in self-employment (those with both low education and in less skilled occupations) are shown to be significantly less likely to want to become self-employed than others. Individuals defined as having good prospects for entrepreneurial endeavors, by contrast, are not significantly different from others in terms of their preferences for self-employment. Such individuals also are apt to face relatively good opportunities as an employee; hence, preferences for self-employment are most likely to be driven simply by predispositions (e.g., setting a high value on work autonomy) or other circumstantial factors. The next model introduces country-level measures. National unemployment rates and economic growth exert significant influences on preferences for self-employment, the latter reducing and the former increasing such preferences. In line with the effects of the measure of poor prospects, these results are consistent with opportunity images of self-employment: Individual preferences for this option increase as the associated risks decline. Higher rates of self-employment in a country exert an independent, positive effect on such preferences, consistent with arguments that entrepreneurship can become institutionalized as an employment option within geographic regions (Tolbert, Sine and David, 2010). Interestingly, the presence of relatively high start-up costs only marginally depresses interests in becoming self-employed. As shown in Model 3, all else equal, the coefficients of our measures of labor market policies indicate that such policies exert independent influences on individuals inclinations to become self-employed. The strongest effect is associated with variations in unemployment benefits: The more generous the benefits that are provided, the lower the likelihood that individuals will prefer self-employment. Higher levels of dismissal protection and of the provision of services to families also depress such preferences, although these effects are only marginally significant after all other variables are considered. Individuals in countries that provide subsidies to the unemployed to start new businesses are significantly more likely to be interested in becoming self-employed. Policies that provide support for families, on the other hand, appear to have no effect on entrepreneurial preferences. The next model examines potential interaction effects between being a good prospect for self-employment and national labor market and family support policies on employment preferences. None of these interaction effects is statistically significant, indicating that individuals with the relatively high chances of succeeding as entrepreneurs are generally unaffected by policy measures. As noted above, in this case, preferences for self-employment are more likely simply to reflect individual dispositions that affect the attractiveness of this employment option. Finally, Model 5 shows the interaction effects between our poor prospects and policy measures. As the significant coefficient for the interaction term between prospects and unemployment benefits indicates, the propensity for individuals with limited education and low occupational status to be disinclined to become self-employed is even more pronounced in countries in which unemployment benefits are relatively high. Likewise, individuals who are poorer prospects for self-employment are less likely to aspire to this employment status when they are in countries that provide more generous family supports (cash benefits to families), although this effect is marginally significant. Insofar as these benefits are tied to taking parental leaves, they are less beneficial to those who are self-employed, and not being able to take advantage of them may pose a greater cost to those who are less apt to be successful in entrepreneurial work. On the other hand, there is a marginally significant positive significant interaction effect between having policies that entail funding unemployed workers to start new businesses and being a poor prospect. Although this is clearly an intended policy effect, the wisdom of this seems problematic, as we discuss below. Discussion and Conclusion The multi-level data set we use here allows us to examine the impact of national-level labor market policies on individuals preferences for becoming self-employed, independent of many other important attitudinal, demographic and job-related influences on such preferences. Our analyses provide evidence that such policies do exert a unique influence on individuals view of self-employment as a desirable way to earn their living. Overall, we find that policies providing greater job security and higher levels of support in case of job loss depress individuals propensity to see self-employment as a favorable employment option. This is consistent with arguments that such policies run counter to the cultivation of a culture of entrepreneurship. However, our results also suggest an important qualification to this: we find that these policies primarily affect the inclinations of people who are generally unlikely to be successful entrepreneurs, and have a negligible effect on the aspirations of those who are better positioned to succeed. Put somewhat differently, our findings suggest that self-employment in countries with labor market policies that provide relatively weak protection and economic support to workers is more apt to be driven by a nothing to lose calculus than by perceptions of real opportunity, compared to countries with stronger protections and support. In the latter context, however, the generally lower level of interest in self-employment among more disadvantaged individuals may be offset partially by policies that provide economic inducements to the unemployed to create a business. This research has a number of implications, both for researchers and policy-makers. From a research standpoint, our focus on policy as an influence on entrepreneurial aspirations offers some useful insights into a relatively understudied theoretical problem, explaining geographical variations in rates of entrepreneurial activity. While wide variations in rates of entrepreneurship are well-documented (Saxenian, 1994; Shane, 1996; Romanelli and Khessina, 2005), explanations for such variations are underdeveloped. Much extant work on such entrepreneurially clustering assigns a key role to chance factors the random confluence of supportive educational institutions, collaborative early entrepreneurs and a highly interactive occupational community (Saxenian 1994), or the unplanned intersection of individuals who are supportive of a particular type of enterprise (Romanelli & Khessina, 2005; Sine & Lee, 2009). In contrast, our work focuses on more controllable sources of geographic variability in entrepreneurship, governmental policies that shape the perceived attractiveness of entrepreneurship as an employment option. Our results indicate that labor market policies, those that provide a stronger safety net in case of job loss and for those with families, are apt to reduce the need to become self-employed. While we have focused on national-level policies, there are also state and regional variations in such policies that may be important in laying the initial foundation for observed geography of new business foundings. Traditionally, most government policies aimed at encouraging entrepreneurship have focused specifically on lowering the costs associated with starting a new business (e.g., favorable business tax policies). Our results indicate that policies not directly intended to affect entrepreneurship (e.g., job loss buffers) may also be important influences on perceptions of the relative rewards of self-employment to paid employment, and thus ultimately, on the rates of new business foundings. Greater consideration of these influences by future research may offer additional insights to our understanding of contextual sources of entrepreneurship, and of regional variations in such. This research also raises some important policy questions. Our findings indicate that labor market policies that buffer employees from the costs of job loss, and those that provide support to families, primarily depress self-employment aspirations among individuals who are the least likely to start a flourishing business. Given the social costs and economic instability that accompany business failures, it is not clear that encouraging self-employment among those who are less likely to experience success in this context is desirable (Aronson, 1991; Shane, 2009). The fact that we find such policies to have little impact on the attractiveness of entrepreneurial activity to individuals who seem most likely to be able to found sustainable organizations suggests that they contain the more disruptive aspects of entrepreneurship, without necessarily discouraging its benefits. It is not clear that high rates of business foundings, per se, produce generally positive economic consequences; insofar as these rates reflect involuntary or push self-employment, the opposite could be expected. In this context, we note that our results also show that, net of the influence of such safety net policies, the availability of subsidies for founding a start-up out of unemployment increases the odds of those with poor prospects to desire to be self-employed. Although from an individual perspective, being self-employed may be better than being unemployed, it is still debatable whether the effects of such policies are desirable from the perspective of governments and policy makers, for the reasons suggested above. More generally, this study points up the need for both theoretical and empirical attention to the distinction between voluntary and involuntary self-employment in the literature on entrepreneurship, and to the implications of this distinction for understanding the relative importance of different sorts of predictors of entrepreneurial activity. 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Tables and Figures  Table 1: Means, Standard Deviations, and Correlations among Study Variables  N1= 11,990; N2 = 21 Table 2:Random Intercept Logistic Regression Models on Preferences for Self-Employment  p<0.10, * p<0.05, ** p<0.01, *** p<0.001  We recognize that there are many different definitions of entrepreneurship: some focus on the founding of organizations with high growth and high capitalization, others on organizations whose creation entails fundamental innovations, and still others on any type of organizational creation, including self-employment. We take the latter, big-tent view of entrepreneurship here.     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