Afterlife: Who Takes Heart for Restart?
The performance of young and newly founded firms depends largely to the human capital of the firm owner. The entrepreneur is therefore one of the main success factors for the firm. Yet entrepreneurs differ considerably in their background and characteristics. Particularly, founders? individual entrepreneurial experience is a property that might be crucial for firm development, though it is part of the firm?s human capital, too. Business failures, namely bankruptcies, may trigger the transition from being a novice entrepreneur to becoming an entrepreneur who is entrepreneurially experienced. About 3 percent of novice entrepreneurs who file for bankruptcy reestablish afterwards. On average, slightly more than 15 months will elapse until such ?fallen? entrepreneurs venture out anew. They differ from entrepreneurs not willing or able to take a second chance in several respects.
|Date of creation:||2006|
|Date of revision:|
|Contact details of provider:|| Postal: |
Web page: http://www.zew.de/
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- P.A. Geroski & José Mata & Pedro Portugal, 2003.
"Founding Conditions and the Survival of New Firms,"
w200301, Banco de Portugal, Economics and Research Department.
- Paul Westhead & Deniz Ucbasaran & Mike Wright & Martin Binks, 2005. "Novice, Serial and Portfolio Entrepreneur Behaviour and Contributions," Small Business Economics, Springer, vol. 25(2), pages 109-132, 09.
- Jensen, Michael C. & Meckling, William H., 1976. "Theory of the firm: Managerial behavior, agency costs and ownership structure," Journal of Financial Economics, Elsevier, vol. 3(4), pages 305-360, October.
- Ronstadt, Robert, 1986. "Exit, stage left why entrepreneurs end their entrepreneurial careers before retirement," Journal of Business Venturing, Elsevier, vol. 1(3), pages 323-338.
- Taylor, Mark P, 1999. "Survival of the Fittest? An Analysis of Self-Employment Duration in Britain," Economic Journal, Royal Economic Society, vol. 109(454), pages C140-55, March.
- Prantl, Susanne, 2003. "Bankruptcy and Voluntary Liquidation: Evidence for New Firms in East and West Germany after Unification," ZEW Discussion Papers 03-72, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
- Veall, Michael R & Zimmermann, Klaus F, 1996. " Pseudo-R-[superscript 2] Measures for Some Common Limited Dependent Variable Models," Journal of Economic Surveys, Wiley Blackwell, vol. 10(3), pages 241-59, September.
- Almus, Matthias & Engel, Dirk & Prantl, Susanne, 2000. "The Mannheim Foundation Panels of the Centre for European Economic Research (ZEW)," ZEW Dokumentationen 00-02, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
- Everett, Jim & Watson, John, 1998. " Small Business Failure and External Risk Factors," Small Business Economics, Springer, vol. 11(4), pages 371-90, December.
When requesting a correction, please mention this item's handle: RePEc:zbw:zewdip:4622. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (ZBW - German National Library of Economics)
If references are entirely missing, you can add them using this form.