De jure determinants of new firm formation: how the pillars of constitutions influence entrepreneurship. Basingstoke: Macmillan.Ĭarbonara, E., Santarelli, E., & Tran, H. Understanding enterprise, entrepreneurship and small business. The value of human and social capital investments for the business performance of startups. What makes an entrepreneur? Journal of Labor Economics, 16(1), 26–60.īosma, N., Van Praag, C. Journal of Political Economy, 98(5), 893–921.īlanchflower, D. Entrepreneurship-productive, unproductive, and destructive. Pre-venture managerial experience and new venture innovation. Strategic Entrepreneurship Journal, 10(4), 346–370.īarnir, A. Portfolio entrepreneurship and resource orchestration. International Journal of Industrial Organization, 17(7), 965–983. Start-up size and industrial dynamics: some evidence from Italian manufacturing. Stars and misfits: self-employment and labor market frictions. Journal of Economics and Business, 55(4), 303–319. Start-up financing, owner characteristics, and survival. Serial entrepreneurship: impact of human capital on time to re-entry. Strategic Entrepreneurship Journal, 10(4), 371–394.Īmaral, A. If we can’t have it, then no one should: shutting down versus selling in family business portfolios. Academy of Management Journal, 47(4), 501–522.Īkhter, N., Sieger, P., & Chirico, F. Knowledge transfer through inheritance: spin–out generation, development and survival. Small Business Economics, 31(3), 219–234.Īgarwal, R., Echambadi, R., Franco, R., & Sarkar, M. Entrepreneurship, economic development and institutions. The results of the two robustness checks (available upon request) are consistent with our main results.Īcs, Z. We exclude those who sold their firm from the sample and rerun the survival analysis. While bankruptcy is typically attributed to skill and financial resources (or lack thereof), ownership transfer may not. In the second robustness check, we sort entrepreneurs according to their exit modality: some went bankrupt and some others sold their enterprise. We have then excluded those who acquired an existing enterprise and rerun the multinomial logit regression. Literature (Parker and Van Praag 2010) claimed that the first ones require education, whereas the second require managerial experience. We have distinguished serial entrepreneurs between those who launched a new business after closing their previous one and those who acquired an existing one. In the first one, we have tried to separate the effects of different skills: education and managerial experience. We have also performed two robustness checks: one for the occupational choice equation and one for the survival equation. Particularly, high entrepreneurial skills together with a high-quality business positively influence the likelihood of an individual to be serial or portfolio entrepreneur (iii) ceteris paribus, firms run by serial or portfolio entrepreneurs tend to stay in business longer, although high-quality ones run by novice entrepreneurs endowed with high entrepreneurial skills are those with the lowest probability to leave the market. We estimate an occupational choice model and a survival model and find that (i) a greater endowment of human capital is associated with a higher likelihood of a business owner to become a serial or a portfolio entrepreneur (ii) a higher quality of the new business is associated to a higher likelihood that it is run by any type of habitual entrepreneur. We then use the insights from our theory to develop three main hypotheses that are finally tested for a 10-year panel dataset (2001 to 2010) of more than 4000 Vietnamese manufacturing firms. In this paper, we first develop an original theory in which, based on their individual skills and the quality of their business, entrepreneurs can keep their original business (and thus remain novice entrepreneurs), start and keep a new business in the same or another sector along their current business (therefore becoming portfolio entrepreneurs), transfer or shut their original business down to either start a new one (turning themselves into serial entrepreneurs), or enter the labor market as wage workers.
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |