Military experience and entrepreneurship: An imprinting perspective

Drawing on imprinting theory, this study hypothesizes that military experience negatively influences entrepreneurship by fostering a preference for stability, lower risk tolerance, and limited innovation due to the hierarchical and rule-bound nature of military service. It is further hypothesized that age moderates this relationship, as older veterans accumulate human and social capital over time, which mitigates the rigid impact of military service. Data from 14,046 households and 54,293 observations from the Panel Study of Income Dynamics (PSID) spanning 2011–2021 were analyzed to test the hypotheses. The results show that military experience reduces entrepreneurial tendencies, and age mitigates this negative effect. Theoretical and practical implications are discussed.