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Entrepreneurial Exit in Real and Imagined Markets

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Author Info
Erik Stam () (University of Cambridge)
Roy Thurik () (Erasmus University Rotterdam)
Peter van der Zwan () (Erasmus University Rotterdam)

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Abstract

Entrepreneurs exit their business due to selection mechanisms experienced in the market place. Next to this well known ex-post decision to exit, entrepreneurs select ex-ante whether they are willing to pursue an entrepreneurial career at all, or to give up these entrepreneurial intentions. This paper compares the role of personal and ecological factors as determinants of these two types of selection: exit in real and in imagined markets. Entrepreneurs in imagined markets are more likely to exit in strong welfare state regimes, while real entrepreneurs are more likely to exit when they have low levels of human capital and when they are located in metropolitan areas.

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Publisher Info
Paper provided by Tinbergen Institute in its series Tinbergen Institute Discussion Papers with number 08-031/3.

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Date of creation: 27 Mar 2008
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Handle: RePEc:dgr:uvatin:20080031

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Related research
Keywords: entrepreneurship nascent entrepreneurs entrepreneurial exit market selection

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Find related papers by JEL classification:
J23 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Demand
L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship

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