Nascent entrepreneurship and the developing individual: Early entrepreneurial competence in adolescence and venture creation success during the career
AbstractWhat predicts a person's venture creation success over the course of the career, such as making progress in the venture creation process and multiple successful venture creations? Applying a life span approach of human development, this study examined the effect of early entrepreneurial competence in adolescence, which was gathered retrospectively by means of the Life History Calendar method. Human and social capitals during the founding process were investigated as mediators between adolescent competence and performance. Findings were derived from regression analyses on the basis of prospective and retrospective data from two independent samples (N=88 nascent founders; N=148 founders). We found that early entrepreneurial competence in adolescence had a positive effect on making progress in the venture creation process. Nascent founders' current human and social capital also had a direct effect, but it did not mediate the effect of early competences. Finally, the data revealed that early entrepreneurial competence in adolescence positively predicted habitual entrepreneurship (multiple successful venture creations) exhibited over a longer period of the individual career (specifically, 18 years). In linewith the results fromprospective longitudinal studies on early precursors of entrepreneurship, our findings underscore the long neglected importance of adolescent development in the explanation of entrepreneurial performance during the subsequent working life.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 32021.
Date of creation: 06 Oct 2010
Date of revision: 21 Dec 2010
Publication status: Published in Journal of Vocational Behavior 1.79(2011): pp. 121-133
Nascent entrepreneurship; Entrepreneurial success; Adolescent competence; Venture creation; Human and social capital; Habitual entrepreneurship;
Find related papers by JEL classification:
- L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
- J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
- M13 - Business Administration and Business Economics; Marketing; Accounting - - Business Administration - - - New Firms; Startups
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-07-13 (All new papers)
- NEP-ENT-2011-07-13 (Entrepreneurship)
- NEP-SBM-2011-07-13 (Small Business Management)
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