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Serial Entrepreneurship: Differentiating Direct from Latent Re-entrants


  • A. Miguel Amaral

    (IN+, Instituto Superior Tecnico, Technical University of Lisbon)

  • Rui Baptista

    () (IN+, Instituto Superior Tecnico, Technical University of Lisbon; Max Planck Institute of Economics)


This study is the first to examine the decision to re-enter business ownership by entrepreneurs who have exited their first business using a longitudinal matched employer-employee database. This kind of data allow us to distinguish between those serial entrepreneurs who re-enter business ownership immediately upon exiting their first business (direct serial), and those who do so after an interlude in paid employment, or non-employment (latent serial). Results highlight the importance of human capital in triggering serial entrepreneurship, but the kinds of experiences driving direct and latent serial entrepreneurs are different.

Suggested Citation

  • A. Miguel Amaral & Rui Baptista, 2007. "Serial Entrepreneurship: Differentiating Direct from Latent Re-entrants," Jena Economic Research Papers 2007-044, Friedrich-Schiller-University Jena.
  • Handle: RePEc:jrp:jrpwrp:2007-044

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    References listed on IDEAS

    1. Levy, David, 1985. "Specifying the Dynamics of Industry Concentration," Journal of Industrial Economics, Wiley Blackwell, vol. 34(1), pages 55-68, September.
    2. Boyan Jovanovic & Chung-Yi Tse, 2006. "Creative Destruction in Industries," NBER Working Papers 12520, National Bureau of Economic Research, Inc.
    3. Luís M B Cabral & José Mata, 2003. "On the Evolution of the Firm Size Distribution: Facts and Theory," American Economic Review, American Economic Association, vol. 93(4), pages 1075-1090, September.
    4. Nickell, Stephen J, 1996. "Competition and Corporate Performance," Journal of Political Economy, University of Chicago Press, vol. 104(4), pages 724-746, August.
    5. Avinash Dixit, 1992. "Investment and Hysteresis," Journal of Economic Perspectives, American Economic Association, vol. 6(1), pages 107-132, Winter.
    6. Vivarelli, Marco & Audretsch, David, 1998. "The Link between the Entry Decision and Post-Entry Performance: Evidence from Italy," Industrial and Corporate Change, Oxford University Press, vol. 7(3), pages 485-500, September.
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    Cited by:

    1. repec:wsi:jdexxx:v:15:y:2010:i:04:n:s1084946710001658 is not listed on IDEAS
    2. Rui Baptista & Murat Karaoez & Joana Mendonca, 2007. "Entrepreneurial Backgrounds, Human Capital and Start-up Success," Jena Economic Research Papers 2007-045, Friedrich-Schiller-University Jena.

    More about this item


    Serial entrepreneurship; Occupational choice; Entrepreneurial opportunity; Human capital; Longitudinal data.;

    JEL classification:

    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups

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