Personal experience: a most vicious and limited circle!? On the role of entrepreneurial experience for firm survival

Georg Metzger

No 07-046, ZEW Discussion Papers from ZEW - Leibniz Centre for European Economic Research

Abstract: The analysis in this paper gives attention to effects on firm survival which come from entrepreneurial experience. It is likely that different kinds of experience result in different firm developments and therefore in different types of firm exit. Particular emphasis is placed upon the effects of failure experience. The results provide evidence that both the kind of experience and the type of exit matter. Negative experience, namely the experience of failure, is found to heighten the risk of failing again. This finding indicates that business failures are largely not exceptions, but rather a sign of the entrepreneurs' lack of ability.

Keywords: Entrepreneurial Experience; Business Failure; Firm Survival (search for similar items in EconPapers)
JEL-codes: G33 L25 L26 M13 (search for similar items in EconPapers)
Date: 2007
New Economics Papers: this item is included in nep-bec, nep-cse and nep-ent
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Working Paper: Personal Experience: A Most Vicious and Limited Circle!? On the Role of Entrepreneurial Experience for Firm Survival (2007)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:zewdip:5872

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