Erik Stam – EUR
Renascent Entrepreneurship - Entrepreneurial Intentions Subsequent to Firm Exit
Let op: Het begint stipt om 12:00 in verband met buluitreikingen vanaf 13:00 in deze zaal.
While a large literature has emerged focusing on nascent entrepreneurship, the propensity for ex-entrepreneurs to consider re-entering into entrepreneurship, or what we term here as renascent entrepreneurship, has been generally overlooked. According to the theory of selection and
passive learning (Jovanovic, 1982), while there is a lot to be learned about the underlying but unobservable endowment of entrepreneurial skills from entering into entrepreneurship, there is virtually nothing that can be additionally learned from subsequently re-entering into
entrepreneurship following termination of a previous firm. This paper suggests a different view of learning, where the entrepreneur can utilize her capacity to absorb and learn from the initial entrepreneurial experience, thereby augmenting her initial endowment of entrepreneurial
skills. This leads to the theoretical prediction that those
ex-entrepreneurs with characteristics more conducive to augmenting entrepreneurial abilities are more likely to become renascent entrepreneurs. Based on the empirical evidence from a database consisting of ex-entrepreneurs, we conclude that those ex-entrepreneurs with the
characteristics facilitating the augmentation of entrepreneurial skills exhibit a higher propensity for becoming renascent entrepreneurs. This would suggest that there are two types of learning gained from
entrepreneurship - both passive learning about the underlying endowment of entrepreneurial skills, but also active learning in that the (ex)entrepreneur learns how to do it better.
In association with the Tinbergen Institute.
- Franc Klaassen (AE)
- Maurice Bun (KE)
- Aljaz Ule (AE/CREED)
- Florian Wagener (KE/CeNDEF)