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Business Creation in the United States: Panel Study of Entrepreneurial Dynamics II Initial Assessment

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  • Reynolds, Paul D.
  • Curtin, Richard T.

Abstract

PSED II began in 2005 with the selection of a cohort of 1,214 nascent entrepreneurs chosen from a representative sample of 31,845 adults. The first 12 month follow-up interviews were completed with 80% of the original cohort. The project is designed to replicate, with appropriate methodological improvements, PSED I. The PSED provides a unique, unprecedented description of the initial stages of the entrepreneurial process. The results suggest that prior experience and an appropriate strategy are critical for completing a new firm birth; personal attributes, motivations, and contexts seem to have minimal effect. The PSED findings have substantial implications for policy makers who wish to improve the capacity of the US entrepreneurial sector to confront global competitive threats with a steady flow of new and innovative firms.

Suggested Citation

  • Reynolds, Paul D. & Curtin, Richard T., 2008. "Business Creation in the United States: Panel Study of Entrepreneurial Dynamics II Initial Assessment," Foundations and Trends(R) in Entrepreneurship, now publishers, vol. 4(3), pages 155-307, January.
  • Handle: RePEc:now:fntent:0300000022
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    File URL: http://dx.doi.org/10.1561/0300000022
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    References listed on IDEAS

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    1. Kranzusch, Peter & Kay, Rosemarie, 2011. "Das Gründerpanel des IfM Bonn: Konzeption und Nutzungsmöglichkeiten," IfM-Materialien 208, Institut für Mittelstandsforschung (IfM) Bonn.
    2. repec:wsi:jdexxx:v:22:y:2017:i:01:n:s1084946717500029 is not listed on IDEAS
    3. Martin Lukeš & Jan Zouhar, 2016. "The Causes of Early-Stage Entrepreneurial Discontinuance," Prague Economic Papers, University of Economics, Prague, vol. 2016(1), pages 19-36.
    4. Cooper, David J. & Saral, Krista Jabs, 2013. "Entrepreneurship and team participation: An experimental study," European Economic Review, Elsevier, vol. 59(C), pages 126-140.
    5. Mueller, Brandon A. & Wolfe, Marcus T. & Syed, Imran, 2017. "Passion and grit: An exploration of the pathways leading to venture success," Journal of Business Venturing, Elsevier, vol. 32(3), pages 260-279.
    6. Herrmann & Kim van der Putten, 2014. "Uraveling start-up processes with the help of sequence analyses," Innovation Studies Utrecht (ISU) working paper series 14-02, Utrecht University, Department of Innovation Studies, revised Jun 2014.
    7. William Stull, 2014. "Taking the Plunge: Teaching the Microeconomics of Entrepreneurship," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 20(2), pages 139-150, May.
    8. repec:kap:iaecre:v:20:y:2014:i:2:p:139-150 is not listed on IDEAS
    9. Grichnik, Dietmar & Brinckmann, Jan & Singh, Luv & Manigart, Sophie, 2014. "Beyond environmental scarcity: Human and social capital as driving forces of bootstrapping activities," Journal of Business Venturing, Elsevier, vol. 29(2), pages 310-326.
    10. Mary Han & Bill McKelvey, 2016. "How to Grow Successful Social Entrepreneurship Firms? Key Ideas from Complexity Theory," Journal of Enterprising Culture (JEC), World Scientific Publishing Co. Pte. Ltd., vol. 24(03), pages 243-280, September.
    11. repec:pal:buseco:v:52:y:2017:i:1:d:10.1057_s11369-017-0022-8 is not listed on IDEAS
    12. Dimo Dimov, 2010. "Nascent Entrepreneurs and Venture Emergence: Opportunity Confidence, Human Capital, and Early Planning," Journal of Management Studies, Wiley Blackwell, vol. 47(6), pages 1123-1153, September.
    13. Gielnik, Michael M. & Barabas, Stefanie & Frese, Michael & Namatovu-Dawa, Rebecca & Scholz, Florian A. & Metzger, Juliane R. & Walter, Thomas, 2014. "A temporal analysis of how entrepreneurial goal intentions, positive fantasies, and action planning affect starting a new venture and when the effects wear off," Journal of Business Venturing, Elsevier, vol. 29(6), pages 755-772.
    14. Bogatyreva, K. & Shirokova, G. & Osiyevskyy, O., 2016. "Intention-behavior translation in student entrepreneurship: An institutional perspective," Working Papers 6455, Graduate School of Management, St. Petersburg State University.
    15. Mayer-Haug, Katrin & Read, Stuart & Brinckmann, Jan & Dew, Nicholas & Grichnik, Dietmar, 2013. "Entrepreneurial talent and venture performance: A meta-analytic investigation of SMEs," Research Policy, Elsevier, vol. 42(6), pages 1251-1273.
    16. Dunkelberg, William & Moore, Carmen & Scott, Jonathan & Stull, William, 2013. "Do entrepreneurial goals matter? Resource allocation in new owner-managed firms," Journal of Business Venturing, Elsevier, vol. 28(2), pages 225-240.
    17. Gielnik, Michael M. & Uy, Marilyn A. & Funken, Rebecca & Bischoff, Kim Marie, 2017. "Boosting and sustaining passion: A long-term perspective on the effects of entrepreneurship training," Journal of Business Venturing, Elsevier, vol. 32(3), pages 334-353.

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