TY - JOUR
T1 - Renascence after post-mortem: the choice of accelerated repeat entrepreneurship
AU - Guerrero, Maribel
AU - Peña-legazkue, Iñaki
PY - 2019/1/1
Y1 - 2019/1/1
N2 - We develop and empirically test why, when, and how entrepreneurs choose to rapidly re-engage in firm creation after business closure. We draw on the notions of human capital, knowledge spillovers, and business cycles to build a comprehensive framework aimed at better understanding the choice of accelerated repeat entrepreneurship. The tests performed using data from multiple countries and several periods consistently reveal that after business termination, the likelihood of rapidly re-engaging in entrepreneurship is positively influenced by the experiential capital of entrepreneurs (i.e., skills developed from launching new businesses and innovative products in previous organizations). Furthermore, this positive relationship is clearly heightened by favorable business cycle and spatial context conditions. Results are expected to shed some light on the circumstances under which repeat entrepreneurship rapidly occurs before second opportunities vanish. A timely action by policy makers is recommended to promote repeat entrepreneurship.
AB - We develop and empirically test why, when, and how entrepreneurs choose to rapidly re-engage in firm creation after business closure. We draw on the notions of human capital, knowledge spillovers, and business cycles to build a comprehensive framework aimed at better understanding the choice of accelerated repeat entrepreneurship. The tests performed using data from multiple countries and several periods consistently reveal that after business termination, the likelihood of rapidly re-engaging in entrepreneurship is positively influenced by the experiential capital of entrepreneurs (i.e., skills developed from launching new businesses and innovative products in previous organizations). Furthermore, this positive relationship is clearly heightened by favorable business cycle and spatial context conditions. Results are expected to shed some light on the circumstances under which repeat entrepreneurship rapidly occurs before second opportunities vanish. A timely action by policy makers is recommended to promote repeat entrepreneurship.
KW - Repeat entrepreneurship
KW - Experiential capital
KW - Human capital
KW - Knowledge spillover theory of entrepreneurship (KSTE)
KW - Business cycles
KW - Serial entrepreneurs
U2 - 10.1007/s11187-018-0015-7
DO - 10.1007/s11187-018-0015-7
M3 - Article
VL - 52
SP - 47
EP - 65
JO - Small Business Economics
JF - Small Business Economics
SN - 0921-898X
IS - 1
ER -