Renascent Entrepreneurship - Entrepreneurial Preferences Subsequent to Firm Exit

Erik Stam (), David B. Audretsch () and Joris Meijaard

Papers on Entrepreneurship, Growth and Public Policy from Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group

Abstract: Why should individuals that have exited their firm consider re-entering into entrepreneurship, i.e. become renascent entrepreneurs? According to the logic of economic models of firm dynamics there is no reason to re-enter into entrepreneurship following termination of a previous firm. In contrast, research on nascent entrepreneurship has shown the positive effect of entrepreneurial experience on planning a new firm start. Based on the empirical evidence from a database consisting of ex-entrepreneurs, this study shows that renascent entrepreneurship is a pervasive phenomenon in current society. Especially entrepreneurial human and social capital induce renascent entrepreneurship. In addition, the nature of the firm exit also affects the probability of renascent entrepreneurship.

Keywords: entrepreneurial preferences; entrepreneurial skills; firm exit; renascent entrepreneurship; economics of entrepreneurship (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-bec, nep-ent and nep-tid
Date: 2006-03
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Persistent link: http://EconPapers.repec.org/RePEc:esi:egpdis:2006-06

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