Serial entrepreneurship, experience and self-employment duration

URL:: https://link.springer.com/article/10.1007/s11187-009-9232-4
Type:: academic_paper
Status:: success
Relevance:: 0.65
Format:: html

Authors: ['A. Miguel Amaral', 'Rui Baptista', 'Francisco Lima']

Year: 2009

Methodology

Sample: Not explicitly stated in abstract (utilizes the Quadros de Pessoal database)
Design: longitudinal
Data: Quadros de Pessoal (matched employer-employee database)

Factors Extracted (3)

General Human Capital (Education/General Experience) [strong] — Negative effect on the hazard of becoming a serial entrepreneur

Entrepreneurial-Specific Human Capital (Prior Founder Experience) [strong] — Positive effect on the hazard of re-entering entrepreneurship

Previous spells of non-employment [weak] — Controlled for; expected no significant impact on re-entry utility

Key Findings

General human capital actually decreases the likelihood (hazard) of an ex-entrepreneur starting another business, likely due to higher opportunity costs in the traditional labor market.
Specific entrepreneurial human capital is the primary driver for individuals becoming serial entrepreneurs.
The study establishes that different types of human capital play distinct, and sometimes opposing, roles in entrepreneurial dynamics.

Limitations

The study focuses on 'hazard' (likelihood over time) of re-entry rather than the financial performance/success of the subsequent ventures.
The analysis is based on a specific Portuguese administrative database (Quadros de Pessoal), which may have geographic or institutional specificities.
The abstract suggests a focus on 'ex-entrepreneurs,' potentially excluding portfolio entrepreneurs who start businesses while still operating others.

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