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Entrepreneurial spawning: Experience, education, and exit

Douglas Cumming (), Uwe Walz () and Jochen Christian Werth

No 122 [rev.], SAFE Working Paper Series from Research Center SAFE - Sustainable Architecture for Finance in Europe, Goethe University Frankfurt

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)
New Economics Papers: this item is included in nep-ent, nep-ino and nep-sbm
Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7) Track citations by RSS feed

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

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