Entrepreneurial spawning: Experience, education, and exit

Douglas Cumming, Uwe Walz (uwalz@econ.uni-frankfurt.de) and Jochen Christian Werth

No 122 [rev.], SAFE Working Paper Series from Leibniz Institute for Financial Research SAFE

Abstract: We investigate the career dynamics of high-tech entrepreneurs by analyzing the exit choice of entrepreneurs: to act as a business angel, to found another firm, or to become dependently employed. Our detailed data from CrunchBase indicate that founders are more likely to stick with entrepreneurship as a serial entrepreneur or as an angel investor in cases where the founder had prior experience either in founding other startups or working for a startup, or had a 'jack-of-all-trades' education.

Keywords: venture governance; entrepreneurship; entrepreneurial spawning; angel finance; venture capital; exit (search for similar items in EconPapers)
JEL-codes: G24 G34 L26 (search for similar items in EconPapers)
Date: 2016, Revised 2016
New Economics Papers: this item is included in nep-ent, nep-ino and nep-sbm
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (30)

Downloads: (external link)
https://www.econstor.eu/bitstream/10419/146789/1/869511491.pdf (application/pdf)

Related works:
Journal Article: Entrepreneurial Spawning: Experience, Education, and Exit (2016)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:zbw:safewp:122r

DOI: 10.2139/ssrn.2715366

Access Statistics for this paper

More papers in SAFE Working Paper Series from Leibniz Institute for Financial Research SAFE Contact information at EDIRC.
Bibliographic data for series maintained by ZBW - Leibniz Information Centre for Economics (econstor@zbw-workspace.eu).