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Renascence after post-mortem: the choice of accelerated repeat entrepreneurship

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  • Maribel Guerrero

    (Northumbria University)

  • Iñaki Peña-Legazkue

    (University of Deusto)

Abstract

We develop and empirically test why, when, and how entrepreneurs choose to rapidly re-engage in firm creation after business closure. We draw on the notions of human capital, knowledge spillovers, and business cycles to build a comprehensive framework aimed at better understanding the choice of accelerated repeat entrepreneurship. The tests performed using data from multiple countries and several periods consistently reveal that after business termination, the likelihood of rapidly re-engaging in entrepreneurship is positively influenced by the experiential capital of entrepreneurs (i.e., skills developed from launching new businesses and innovative products in previous organizations). Furthermore, this positive relationship is clearly heightened by favorable business cycle and spatial context conditions. Results are expected to shed some light on the circumstances under which repeat entrepreneurship rapidly occurs before second opportunities vanish. A timely action by policy makers is recommended to promote repeat entrepreneurship.

Suggested Citation

  • Maribel Guerrero & Iñaki Peña-Legazkue, 2019. "Renascence after post-mortem: the choice of accelerated repeat entrepreneurship," Small Business Economics, Springer, vol. 52(1), pages 47-65, January.
    • Handle: RePEc:kap:sbusec:v:52:y:2019:i:1:d:10.1007_s11187-018-0015-7
    DOI: 10.1007/s11187-018-0015-7
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    Cited by:

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    2. Sebastián Uriarte & Jorge Espinoza-Benavides & Domingo Ribeiro-Soriano, 2023. "Engagement in entrepreneurship after business failure. Do formal institutions and culture matter?," International Entrepreneurship and Management Journal, Springer, vol. 19(2), pages 941-973, June.
    3. Josefina Novejarque Civera & Mabel Pisá Bó & José Fernando López-Muñoz, 2021. "Do contextual factors influence entrepreneurship? Spain’s regional evidences," International Entrepreneurship and Management Journal, Springer, vol. 17(1), pages 105-129, March.
    4. Maribel Guerrero & Jorge Espinoza-Benavides, 2021. "Do emerging ecosystems and individual capitals matter in entrepreneurial re-entry’ quality and speed?," International Entrepreneurship and Management Journal, Springer, vol. 17(3), pages 1131-1158, September.
    5. Maribel Guerrero & José Ernesto Amorós & David Urbano, 2021. "Do employees’ generational cohorts influence corporate venturing? A multilevel analysis," Small Business Economics, Springer, vol. 57(1), pages 47-74, June.
    6. Maribel Guerrero & Francisco Liñán & F. Rafael Cáceres-Carrasco, 2021. "The influence of ecosystems on the entrepreneurship process: a comparison across developed and developing economies," Small Business Economics, Springer, vol. 57(4), pages 1733-1759, December.
    7. Guerrero, Maribel & Heaton, Sohvi & Urbano, David, 2021. "Building universities’ intrapreneurial capabilities in the digital era: The role and impacts of Massive Open Online Courses (MOOCs)," Technovation, Elsevier, vol. 99(C).
    8. Audretsch, David B. & Lehmann, Erik E. & Menter, Matthias & Wirsching, Katharine, 2021. "Intrapreneurship and absorptive capacities: The dynamic effect of labor mobility," Technovation, Elsevier, vol. 99(C).
    9. Linda Elizabeth Ruiz & José Ernesto Amorós & Maribel Guerrero, 2023. "Does gender matter for corporate entrepreneurship? A cross-countries study," Small Business Economics, Springer, vol. 60(3), pages 929-946, March.

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