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Business Experience and Start-up Size: Buying More Lottery Tickets Next Time Around?

Author

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  • Alex Coad

    (SPRU, University of Sussex)

  • Julian Frankish

    (Barclay’s Bank, UK)

  • Paul Nightingale

    (SPRU, University of Sussex)

  • Richard G. Roberts

    (Barclay’s Bank, UK)

  • David J. Storey

    (University of Sussex)

Abstract

This paper explores the determinants of start-up size by focusing on a cohort of 6,247 businesses that started trading in 2004, using a unique dataset on customer records at Barclays Bank. Quantile regressions show that prior business experience is significantly related with start-up size, as are a number of other variables such as age, education and bank account activity. Quantile treatment effects (QTE) estimates show similar results, with the effect of business experience on (log) start-up size being roughly constant across the quantiles. Prior personal business experience leads to an increase in expected start-up size of about 50 %. Instrumental variable QTE estimates are even higher, although there are concerns about the validity of the instrument. Copyright Springer Science+Business Media New York 2014
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Alex Coad & Julian Frankish & Paul Nightingale & Richard G. Roberts & David J. Storey, 2012. "Business Experience and Start-up Size: Buying More Lottery Tickets Next Time Around?," SPRU Working Paper Series 203, SPRU - Science Policy Research Unit, University of Sussex Business School.
    • Handle: RePEc:sru:ssewps:203
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    3. J. David Brown & John S. Earle & Mee Jung Kim & Kyung Min Lee, 2017. "High-Growth Entrepreneurship," Working Papers 17-53, Center for Economic Studies, U.S. Census Bureau.
    4. Simon C. Parker & Thomas Åstebro & David B Audretsch & Robert Blackburn & Andrew Burke & Alex Coad & Marc Cowling & Per Davidsson & Michael Fritsch & Francis Greene & Paul D. Reynolds & Roy Thurik, 2024. "“Remembering David J Storey, a pioneer of the entrepreneurship field”," Small Business Economics, Springer, vol. 62(1), pages 1-21, January.
    5. J David Brown & John S Earle & Mee Jung Kim & Kyung Min Lee, 2019. "Start-ups, job creation, and founder characteristics," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 28(6), pages 1637-1672.
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    7. Alex Coad & Kristian Nielsen & Bram Timmermans, 2017. "My first employee: an empirical investigation," Small Business Economics, Springer, vol. 48(1), pages 25-45, January.
    8. Alex Coad & Julian S. Frankish & Richard G. Roberts & David J. Storey, 2016. "Predicting new venture survival and growth: Does the fog lift?," Small Business Economics, Springer, vol. 47(1), pages 217-241, June.
    9. Klaesson , Johan & Karlsson, Charlie, 2014. "Market potential, start-up size and the survival of new firms," Working Paper Series in Economics and Institutions of Innovation 384, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies.
    10. Caliendo, Marco & Fossen, Frank M. & Kritikos, Alexander S., 2022. "Personality characteristics and the decision to hire," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 31(3), pages 736-761.
    11. Rocha, Vera & van Praag, Mirjam C. & Folta, Timothy B. & Carneiro, Anabela, 2016. "Entrepreneurial Choices of Initial Human Capital Endowments and New Venture Success," IZA Discussion Papers 9919, Institute of Labor Economics (IZA).
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    More about this item

    Keywords

    Start-up size; entrepreneurship; business experience; learning; quantile treatment effects;
    All these keywords.

    JEL classification:

    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance

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