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Many of our seminars and public events this year will continue as in person or as hybrid (online and in person) events.

Please check our website listings and Twitter feed @STICERD_LSE for updates.

Unless otherwise specified, in-person seminars are open to the public. Please ensure you have informed the event contact as early as possible.

Those unable to join the seminars in-person are welcome to participate via zoom if the event is hybrid.

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About this event

This paper studies how entrepreneurs sort into teams and how team entrepreneurship affects the equilibrium distribution of firms. Leveraging employer-employee administrative records matched with private companies' balance sheet data for Portugal, we show that firms of entrepreneurial teams have higher sales, productivity and survival rates than those of single entrepreneurs. We then exploit information on agents? careers before opening a firm to establish that there is a strong degree of sorting in entrepreneurial teams along observed and unobserved heterogeneity. A novel theory of career choices and team formation rationalizes why similarity in entrepreneurs? overall talent and dissimilarity in their skill specialization lead to better firm outcomes, providing insights into the micro-foundations of firm growth.