Personal data Full name: Celine Mirjam van Praag, Date of Birth: November 11, 1967; Nationality: Dutch

Resume C. Mirjam van Praag February, 2006 Business address Faculty of Economics and Econometrics (FEE), Department of Economics; SCHOLAR Group Roetersstraat 11; 1018 WB Amsterdam; The Netherlands Phone +31 20 525 4096; Mobile: 00316 54 721769; e-mail: c.m.vanpraag@uva.nl Personal data Full name: Celine Mirjam van Praag, Date of Birth: November 11, 1967; Nationality: Dutch Education PhD in economics from the UvA (1992-1995, cum laude) Dissertation: "Determinants of successful entrepreneurship" Supervisors: Prof. Dr J.S. Cramer and Prof. Dr J. Hartog Tinbergen School PhD Diploma Masters ("doctoraal") in econometrics from the UvA (1987-1991, cum laude) Propedeuse econometrics and actuarial sciences from the UvA (1986-1987, cum laude) "Gymnasium Beta" (1980-1986, cum laude) Current position Full Professor of Entrepreneurship and Organization, FEE, UvA, starting in 2006 Director of the Amsterdam Center for Entrepreneurship, starting in 2006 Research Fellow Tinbergen Institute since 2002 Associate Editor of Small Business Economics since 2005 Director of Business Economics FEE UvA since 2005 Program Coordinator of "Economics of Organization", Business Economics, FEE UvA Member of the Think Tank of Dialogues towards a more entrepreneurial Dutch society Previous Positions Co-director of the Amsterdam Center for Corporate Finance 2002-2005 Associate Professor Economics of Organization, FEE, UvA, 1998-2005 Consultant with The Boston Consulting Group (1995-1998) AIO with the economics department of the UvA (1992-1995) Consultant with GfK Intomart B.V. Hilversum (1992-1995) Financial Analist with Procter & Gamble, Rotterdam (1991-1992) Internships and student assistant experience: Marketing Department, Française de Brasserie (Heineken), Paris (1991) Finance Department, Procter & Gamble, Frankfurt (1990) Research assistant with the Foundation for Economic Research (SEO), UvA (1988-1989) Current research topics Entrepreneurship performance and (human) capital Personnel Economics, Economics of Organization, Performance Measurement and Rewards Research joint ventures The Boston Consulting Group since 1998 Economisch Instituut voor het Midden- en Kleinbedrijf (EIM), 0-appointment since 2000 1

Towers Perrin Executive Compensation, since 2002 Publications Articles in refereed international journals/books (including 2 nd and 3 rd round revision in journals) "Wage structure and the incentive effect of promotions" (co-authors: Marco van Herpen and Kees Cools), (2 nd round with Kyklos) "The value relevance of top executive departures: Evidence from the Netherlands" (coauthor: Kees Cools), (2 nd round with Journal of Corporate Finance) "Illegal entrepreneurship experience: Does it make a difference for business performance and motivation? Analyzing the effects of illegal entrepreneurship experience in Lithuania" (coauthor: Ruta Aidis) forthcoming in the Journal of Business Venturing, 2006/2007 "Schooling, Capital Constraints and Entrepreneurial Performance: The Endogenous Triangle" (co-author Simon Parker) forthcoming in Journal of Business and Economic Statistics, 2006 "Initial capital constraints hinder entrepreneurial venture performance: An empirical analysis (co-authors Gerrit de Wit and Niels Bosma), Journal of Private Equity 9(1), pp. 36-44, 2005 The effects of performance measurement and compensation on motivation (co-authors: Marco van Herpen and Kees Cools), De Economist 38(2), 2005, pp. 303-329. "Venture performance and venture input: human and financial capital", Chapter in the Handbook of Entrepreneurship, Kluwer Academic Publishers (eds Simon Parker, David Audretsch and Zoltan Acs), forthcoming in 2006 "Entrepreneurship selection and performance: A meta-analysis of the impact of education in less developed countries" (co-authors: Justin van der Sluis and Wim Vijverberg), World Bank Economic Review 19(2), 2005, pp.225-261. "Economic returns to education for entrepreneurs: The development of a neglected child in the family of economics of education?", 2004 (co-author: Justin van der Sluis), Swedish Economic Policy Review 11(2), pp183-226. "The Value of Human and Social Capital Investments for the Business Performance of Startups", 2004 (co-authors: Niels Bosma, Roy Thurik, and Gerrit de Wit), Small Business Economics 23(3), pp227-236. "Some advances in the explanation of entrepreneurial intentions", Chapter 2, pp27-45 in M. Dowling, J. Schmuede and D. zu Knyphausen-Aufsess (eds) Advances in Interdisciplinary European Entrepreneurship Research, Lit Verlag, Muenster, Germany, 2004 (co-authors: M. van Gelderen, M. Brand, M. Ombach and W. Bodewes) "Business Survival and Success of Young Small Business Owners: An Empirical Analysis", Small Business Economics 21(1), 2003, pp1-17. 2

"Opportunity and willingness to start as an entrepreneur", Chapter 2, pp38-62 in D.J.Storey (ed) Small Business: Critical Perspectives on Business and Management, Routledge, London, 2003 "The Value of Investments in Human and Social Capital for Small Business Founders", 2002 (co-author: Gerrit de Wit), 2002 in Frontiers of Entrepreneurship Research "Low risk aversion encourages the choice for entrepreneurship: an empirical test of a truism", Journal of Economic Behavior and Organization 48,p29-36, 2002 (co-authors: Mars Cramer, Joop Hartog, Nicole Jonker) "The roots of entrepreneurship and labor demand: individual ability and low risk aversion", Economica 269, pp45-62 2001 (co-author: Mars Cramer) "On the virtues of transparency and simplicity: an empirical analysis of the value-relevance of targets", special issue in English of Maandschrift Accountancy en Bedrijfseconomie 74, pp24-37, 2001 (co-author: Kees Cools, Editor J. Zimmerman), "Some Classic Views on Entrepreneurship", De Economist 147(3), pp311-335, 1999 "The demand for concerts of classical music - decision support for scenario planning of orchestras" Marketing and Research Today 24(2), 1996, pp27-35 (co-authors: Bernard van Praag, Karel Slootman, Piet Stam and Willem Wijnbergen); Award-winner at ESOMAR conference "Determinants of Willingness and Opportunity to Start as an Entrepreneur", Kyklos International Review for Social Sciences 48, pp513-540, 1995 (co-author Hans van Ophem) "Firm-size wage differentials in the Netherlands", Small Business Economics 7, pp173-182, 1995 (co-author Hessel Oosterbeek) Books Successful Entrepreneurship: Confronting Economic Theory with Empirical Evidence, forthcoming in November 2005, Edward Elgar, London, England Succesvol als Ondernemer, 1997, Academic Service, Schoonhoven / Amsterdam, series 'Management Briefings' Determinants of Successful Entrepreneurship, 1996, dissertation, Thesis Publishers, Amsterdam Opleiden, starten, slagen of falen als ondernemer, 1996, Max Goote kenniscentrum voor beroepsonderwijs en volwasseneneducatie Start-, slaag- en faalkansen van hoger opgeleide startende ondernemers, October 1996, "voorstudie van de Wetenschappelijke Raad voor het Regeringsbeleid", by SEO/Intomart for WRR, Rabobank Nederland, Thinktank Elsevier. Co-authors: E. Brouwer, E. Edelmann, C.M. van Praag en B.M.S. van Praag 3

The demand for concerts of classical music: decision support for the scenario-planning of orchestras by means of ROA-analysis;, SEO-publication, June 1995 (co-authors B.M.S. van Praag, K.C.P. Slootman, P.J.A. Stam, J.C.M. van Ophem en W. Wijnbergen) Contributions to non-refereed books Hoe effectief is ons corporate governance system?, p91-99 in Yearbook 2003-2004 of the "Koninklijke Vereniging voor de Staathuishoudkunde" (co-author: Kees Cools) De essentie van prestatiemaatstaven, p114-122 in Yearbook 2003-2004 of the "Koninklijke Vereniging voor de Staathuishoudkunde" (co-author: Kees Cools) "Ideeen over ondernemerschap", Chapter 6, pp103-126 in Handboek Ondernemers en adviseurs: management en economie van het Midden- en Kleinbedrijf (P. Risseeuw en A.R. Thurik), Kluwer, 2003 "Meerdere doelstellingen is geen doelstelling", p55-61 in Yearbook 2001-2002 of the "Koninklijke Vereniging voor de Staathuishoudkunde" "Succesvolle ondernemingen: de rol van de ondernemer", Chapter 5 in Ondernemers en Beleidsmakers (D.P. Scherjon en A.R. Thurik), Kluwer Bedrijfsinformatie, Deventer, 1998 "Het inkomen van de Nederlandse econoom", p108-114 in Yearbook 1995-1996 of the "Koninklijke Vereniging voor de Staathuishoudkunde" Articles in Dutch journals "De promotieprikkel",economische Statistische Berichten 4411, p394-395, (co-authors: M. van Herpen and K.Cools) 2003 "Hoe effectief is ons corporate governance systeem?", Economische Statistische Berichten 4403, p220-223, (co-author: K.Cools) 2003 "De motivatie van de ondernemer", Economische Statistische Berichten 4402, p D17, 2003 "De essentie van prestatiemaatstaven", Economische Statistische Berichten 4394, p56-59, (coauthor: K.Cools) 2003 "Motiverend belonen loont", Economische Statistische Berichten 4375, p867-871, (co-authors: R. Kok, K.Cools and M. van Herpen) 2002 "Topmanagers", NRC Handelsblad December (co-author: Kees Cools) 2001 "Bedrijven met één helder doel verdienen het meest", Het Financieele Dagblad p13 (optiek), (co-author: K.Cools) 2001 "Hoe minder doelen, des te hoger de aandelenkoers", Het Financieele Dagblad p12 (optiek), (co-author: K.Cools) 2001 4

"Meerdere doelstellingen is geen doelstelling", Economische Statistische Berichten 4321, p644-647, (co-author: K.Cools) 2001 "Topsalarissen en aandelenopties", Economisch Statistische Berichten 4240, 69-73, (with K. Cools) 2000 "Optieplan FNV is alleszins redelijk", NRC Handelsblad (With Bernard M.S. van Praag) 2000 "De intermediair blijft: een casestudie van de verzekeringsmarkt", Holland Management Review 58, 59-66 (with K. Cools and M. Nikolic), 1998 "Ondernemerschap: Marshall versus Schumpeter", Economisch Statistische Berichten 4104, 344-347, 1997 "Een antwoord op de vraag naar klassieke muziek", Economisch Statistische Berichten 4106, 388-390, (with B.M.S. van Praag) 1997 "Naar een ondernemend en succesvol startersbeleid in Nederland", Tijdschrift voor Politieke Economie 19(4) 73-98, 1997 "Het inkomen van de Nederlandse econoom", Economisch Statistische Berichten 4039, pp13-15, (with J. Hartog and J. Odink), 1996 "Succesvol Ondernemerschap: wie wel en wie niet?", Economenblad p8 March 1996 "Credit Management en de Startende Ondernemer", 1996, De Credit Manager 6(4), 17-19 1995 "Ondernemer worden: kunnen en willen is twee", Economisch Statistische Berichten 3959 (1994), pp390-393, (with H. van Ophem) 1994 "Schoonheid betaalt!", Economisch Statistische Berichten 3978, p1139, 1994 "Heeft economie nut?", Economenblad November p6-7, 1994 "Anomalie: grotere bedrijven betalen hogere lonen", Economisch Statistische Berichten 3925 pp764-768 (with H. Oosterbeek), 1993 Working papers "The Value relevance of voluntarily disclosing a single corporate performance target: An explorative empirical analysis" (co-author: Kees Cools) "Education and entrepreneurship in industrialized countries: A meta-analysis" (co-authors: Justin van der Sluis and Wim Vijverberg) "Comparing the returns to education for entrepreneurs and employees" (co-authors: Justin van der Sluis and Arjen van Witteloostuijn) "The impact of the locus-of-control personality trait on the earnings of employees vis-a-vis entrepreneurs" (co-authors: Justin van der Sluis and Arjen van Witteloostuijn) 5

"First author determinants and the Benefits of Being Professor A (and not Z): An empirical analysis of non-alphabetic name ordering among economics authors" (co-author: Bernard van Praag) "Performance measurement, expectancy and agency theory: an experimental analysis" (coauthor: Randolph Sloof) Returns to education for entrepreneurs, Chapter 5 in the book proposal to Cambridge University Press Human Capital: Moving the Frontier, eds Joop Hartog and Henriette Maassen van den Brink (co-author Justin van der Sluis) Work in Progress Entry strategies of entrepreneurs and their human capital (co-author: Simon Parker) "Returns to intelligence" (co-author: Justin van der Sluis) "Performance Measure Selection: Trading off noise and distortion" "Ports of Entry and Exit in Danish firms: Evidence from linked employer-employee data" (co-authors: Tor Erikson, Marco van Herpen and Kees Cools) Unemployment and Self-employment (co-author: Michael Fritsch) PhD students (co-promotor and daily supervisor) Marco van Herpen, Issues in Personnel Economics, expected promotion month: December 2005. Promotor: Prof dr K. Cools, Groningen Justin van der Sluis, Entrepreneurship and Education, expected promotion year: 2006 Auke IJsselstein, Performance Measurement and Executive Rewards, expected promotion year: 2008 Teaching experience Price theory for first year students Economics and Business (1992-1995) Economics, Organization, and Management for third and fourth year students in Business Economics (2000-, ca 100 students/year,dutch and English newly designed course) Economics, Organization, and Management Mastercourse in Business Economics (2002-, 50 students/year, Dutch and English) newly designed course) Economics of Internal Organization, Core course in the Tinbergen Institute Masters/PhD program (2000, with Hessel Oosterbeek, newly designed course) Economic Theory of Organization for first year students Economics and Business (2000-,ca 350 students per year newly designed course) "Incentives for Management and Value Based Management", course for Shell Financial Managers and a (by Shell invited) group of PhD students. "Personnel Economics", course for AIAS MA students (2000-, with Joop Hartog and Hessel Oosterbeek). Experience in Course Design 6

Economics, Organization, and Management for bachelor students in Business Economics Economics, Organization, and Management, Master course in Business Economics Economic Theory of Organization for first year students Economics and Business "Personnel Economics", course for AIAS MA students Personnel Economics, Master course in the Master of Human Resource Management, Business Studies (not yet running) Economics of Entrepreneurship, Master Course in Business Economics Conference and seminar presentations 2005: Conference presentation at the Babson Kaufman conference in Boston (June), Conference Presentation at the SOLE (Society of Labor Economists) conference in San Francisco (June); Invited seminar at the University of Caen (France, March); Program committee of IECER conference in Amsterdam; Conference presentation at the EEA meeting, Amsterdam 2004: Invited lecture at the Conference Self-employment, entrepreneurship and business creation organized by the Economic Council of Sweden, Invited seminars at the Max Planck Institute in Jena, at the ESADE Business School in Barcelona, at the TILEC group, Tilburg University, conference presentations at the EEA conference in Madrid, at the EALE conference in Lisbon, at the Babson conference in Glasgow (2x), EFA Maastricht. 2003: Seminars at Harvard Business School (2); Seminar at Tinbergen Institute Rotterdam, Conference presentations (2) at EALE Sevilla, Conference presentation at International Entrepreneurship and Venture Creation Conference, Durham, Seminar at Warwick Economics Faculty; Seminar at Durham Economics Faculty; Seminar at Aarhus Business School; Seminar at Tinbergen Institute Rotterdam; Seminar at IZA Bonn, Conference presentations at Babson Kaufmann Conference on Entrepreneurship; 2002: Nederlandse Arbeidsmarktdag, Amsterdam; Financial Management Association European Meeting, Copenhagen; European Association of Labor Economics Paris; European Association of Research in Industrial Economics Madrid; UvA, FEE; Speaker at CESifo workshop "Entrepreneurship, Venture Capital and Public Policy", Munich; Organizer Tinbergen Institute workshop "Economics of Organization" (speakers: George Baker, Arnoud Boot, Anke Kessler, Mirjam van Praag) 2000: UvA/FEE; Economics Faculty of the University of Groningen; ASAC-IFSAM Montréal, Canada 1999: BIRC (Business and Investment Research Centre) of the University of Maastricht Scientific Council Meeting, St Gerlach; MAB conference (with G. Zimmerman) on accounting research 1997: Lunchseminar Entrepreneurship, University of Groningen, Netherlands; Meeting of the International Society on Entrepreneurship, Nijmegen, Netherlands 1995: Presentation of thesis to the Scientific Council of the Government, Den Haag, Netherlands 1994:Seminar, Tel Aviv University, Israel; Econometric Society European Meeting, Maastricht 1993: Econometric Society European Meeting, Uppsala; European Economic Association, Helsinki 7

Administrative experience Coordinator of the Bachelor and Master Programs organizational economics, FEE-UvA Member of "Kamer 2" SMO/COM Member of the supervising board of internetproject www.joods.nl Member of the Educational Committee (OCE) FEE/UvA Board Member "Kring van Amsterdamse Economen", alumni association of FEE, UvA Member of the Scientific committee (VCW) of FEE/UvA Vice-President of the General Board of students association SSRAmsterdam. Member of the board of the Zionistic-socialistic youth movement "Habonim" Student member of the Econometrics Educational Committee, UvA Member of the Board of the alumni association of the "sorority" B.V. Bla Bla&Co Accountant to the "sorority" `B.V. Bla Bla & Co.' of Student association SSRA. Other Spent a term in 1994 (4 months) at the Economics Faculty (Etan Berglas Institute) of Tel Aviv University, Israel Acquired and executed a $80,000 academic research project on Entrepreneurship and Education with The World Bank in 2002; a 25.000 academic research project on Evaluating Entrepreneurship Education with the ABN AMRO Bank in 2005. 8