If you don't succeed, should you try again? The role of entrepreneurial experience in venture survival

Sandra Gottschalk, Francis J. Greene, Daniel Höwer and Bettina Müller
Authors registered in the RePEc Author Service: Daniel Hoewer

No 14-009, ZEW Discussion Papers from ZEW - Leibniz Centre for European Economic Research

Abstract: There remains considerable scholarly debate about the role that prior entrepreneurial experience plays in new venture survival. Drawing on entrepreneurial learning theories, we use panel data on 8,400 new ventures to investigate the impact of four different types of prior entrepreneurial experience (portfolio, serial, failure (bankruptcy/voluntary dissolution) and a mix of success (portfolio/serial) and failure (prior bankruptcy/dissolution) on venture survival outcomes. We find that previously failed entrepreneurs are less likely to survive and, in common with entrepreneurs with mixed prior experiences, are more likely to experience bankruptcy. We find that portfolio and serial experience is unrelated to survival or avoiding bankruptcy. Conclusions for entrepreneurship scholars, entrepreneurs and stakeholders are discussed.

Keywords: venture survival; entrepreneurial experience; panel data (search for similar items in EconPapers)
JEL-codes: L25 L26 (search for similar items in EconPapers)
Date: 2014
New Economics Papers: this item is included in nep-cwa, nep-ent and nep-sbm
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:zbw:zewdip:14009

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