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What distinguishes a serial entrepreneur?

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  • Ari Hyytinen
  • Pekka Ilmakunnas

Abstract

We analyze serial entrepreneurship using a unique cross-sectional survey of employees that is for this study linked with longitudinal, register-based employer-employee data. Serial entrepreneurship accounts for nearly 30% of the transitions from paid employment into entrepreneurship. What make an entrepreneur serial are her aspirations and her ability to go ahead and live by them. Specifically, we document that having worked in the past as an entrepreneur increases both the probability that a person presently in paid employment aspires to again become an entrepreneur and , holding the aspirations constant, the probability of her again becoming an entrepreneur. We also find that an employee with entrepreneurial aspirations is more likely to become an entrepreneur subsequently, than an employee without such aspirations. Finally, holding aspirations constant, working in the public sector and being a union member are negatively correlated with the likelihood of transiting into entrepreneurship. Copyright 2007 , Oxford University Press.

Suggested Citation

  • Ari Hyytinen & Pekka Ilmakunnas, 2007. "What distinguishes a serial entrepreneur?," Industrial and Corporate Change, Oxford University Press, vol. 16(5), pages 793-821, October.
  • Handle: RePEc:oup:indcch:v:16:y:2007:i:5:p:793-821
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    File URL: http://hdl.handle.net/10.1093/icc/dtm024
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    Cited by:

    1. Rocha, Vera & Carneiro, Anabela & Amorim Varum, Celeste, 2015. "Serial entrepreneurship, learning by doing and self-selection," International Journal of Industrial Organization, Elsevier, vol. 40(C), pages 91-106.
    2. Hannu Tervo & Hannu Niittykangas, 2011. "Self-employment transitions at older ages in different local labor markets," ERSA conference papers ersa11p764, European Regional Science Association.
    3. Vera Rocha & Anabela Carneiro & Celeste Amorim Varum, 2013. "Entrepreneurship Dynamics: Entry Routes, Business-Owner's Persistence and Exit Modes," CEF.UP Working Papers 1310, Universidade do Porto, Faculdade de Economia do Porto.
    4. Daniel Lechmann & Claus Schnabel, 2014. "Are the self-employed really jacks-of-all-trades? Testing the assumptions and implications of Lazear’s theory of entrepreneurship with German data," Small Business Economics, Springer, vol. 42(1), pages 59-76, January.
    5. Jose Plehn-Dujowich, 2010. "A theory of serial entrepreneurship," Small Business Economics, Springer, vol. 35(4), pages 377-398, November.
    6. Jolanda Hessels & Isabel Grilo & Roy Thurik & Peter Zwan, 2011. "Entrepreneurial exit and entrepreneurial engagement," Journal of Evolutionary Economics, Springer, vol. 21(3), pages 447-471, August.
    7. Nyström, Kristina, 2016. "Entrepreneurship after displacement: The transition and performance of entrepreneurial ventures created after displacement," Working Paper Series in Economics and Institutions of Innovation 443, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies.
    8. Simon Parker, 2014. "Who become serial and portfolio entrepreneurs?," Small Business Economics, Springer, vol. 43(4), pages 887-898, December.
    9. Vera Rocha & Anabela Carneiro & Celeste Varum, 2015. "Entry and exit dynamics of nascent business owners," Small Business Economics, Springer, vol. 45(1), pages 63-84, June.
    10. Erik Stam & Roy Thurik & Peter van der Zwan, 2010. "Entrepreneurial exit in real and imagined markets," Industrial and Corporate Change, Oxford University Press, vol. 19(4), pages 1109-1139, August.
    11. Goran Serdareviæ & Petr Teplý, 2011. "The Efficiency of EU Merger Control During the Period 1990–2008," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 61(3), pages 252-276, July.
    12. Michael P. Ciuchta & Yan Gong & Anne S. Miner & Chaim Letwin & Anthony Sadler, 2016. "Imprinting and the progeny of university spin-offs," The Journal of Technology Transfer, Springer, vol. 41(5), pages 1113-1134, October.
    13. Hannu Tervo, 2014. "Who turns to entrepreneurship later in life? - Push and pull in Finnish rural and urban areas," ERSA conference papers ersa14p236, European Regional Science Association.
    14. Douglas Cumming & Uwe Walz & Jochen Christian Werth, 2016. "Entrepreneurial Spawning: Experience, Education, and Exit," The Financial Review, Eastern Finance Association, vol. 51(4), pages 507-525, November.
    15. André van Stel & Sander Wennekers & Jolanda Hessels & Peter van der Zwan, 2012. "Global Entrepreneurship Monitor 2011 The Netherlands," Scales Research Reports A201211, EIM Business and Policy Research.
    16. Timothy B. Folta & Frédéric Delmar & Karl Wennberg, 2010. "Hybrid Entrepreneurship," Management Science, INFORMS, vol. 56(2), pages 253-269, February.
    17. Joanna Tyrowicz & Joanna Nestorowicz, 2010. "Cynicism Starts Young: Age and Entrepreneurship over Transition," Working Papers 2010-02, Faculty of Economic Sciences, University of Warsaw.
    18. A. Amaral & Rui Baptista & Francisco Lima, 2011. "Serial entrepreneurship: impact of human capital on time to re-entry," Small Business Economics, Springer, vol. 37(1), pages 1-21, July.
    19. Varum, Celeste & Rocha, Vera Catarina & Valente da Silva, Hélder, 2014. "Economic slowdowns, hazard rates and foreign ownership," International Business Review, Elsevier, vol. 23(4), pages 761-773.
    20. Cumming, Douglas & Walz, Uwe & Werth, Jochen Christian, 2015. "The dynamics of entrepreneurial careers in high-tech ventures: Experience, education, and exit," SAFE Working Paper Series 122, Research Center SAFE - Sustainable Architecture for Finance in Europe, Goethe University Frankfurt.

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