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Entrepreneurs Lead the Way for Job Growth -- New Evidence from Babson College
Contact: Nancy Sullivan, Public Relations, Babson College, 781-239-4623, sullivann@babson.edu
WELLESLEY, Mass., March 14, 2011 /Standard Newswire/-- A new report of job growth, conducted by Babson College Associate Professor Joel Shulman, with input from Emily Leventhal at Athena Capital Advisors, suggests that job growth over the past five years has grown fastest among "Entrepreneurial" companies. Job growth among publicly-traded U.S. entrepreneurial companies (market cap greater than $200M), as measured by the newly created EntrepreneurShares Mutual Fund, outpaced job growth among comparably-sized non-entrepreneurial, publicly traded companies in each of the past five years. Moreover, the results show that publicly-traded entrepreneurial companies grew by 0.25 percent even during 2008-2009, when the overall market declined by 3.25 percent.
The percentage change in job growth was as much as 15.32 percent during the boom periods of 2005-2006 and narrowed to 3.5 percent as the market approached recession. This early evidence suggests that Entrepreneurs are better able to anticipate and react to changing market conditions.
Further, the strong stock market performance by the publicly traded Entrepreneurs over the past five years (in excess of 11 percent annual compounding), provides further evidence that the market is willing to reward entrepreneurial behavior.
Shulman and Leventhal are now finalizing their data analysis and expect to produce a final paper soon.
A graph demonstrating that growth in entrepreneurial companies has been steady - even during 2008-2009 when the overall market declined 3.25 percent, entrepreneurs' growth increased by 0.25 percent - can be found online.
