SERIAL ENTREPRENEURS AND VENTURE SURVIVAL: EVIDENCE FROM US VENTURE-CAPITAL-FINANCED SEMICONDUCTOR FIRMS

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This article investigates the effects of prior firm founding experience, prior venture capital (VC) financing experience, and prior success with regard to subsequent venture survival by distinguishing serial entrepreneurs with and without prior VC financing experience. My analysis shows that ventures founded by serial entrepreneurs perform better than those founded by novice entrepreneurs regardless of whether entrepreneurs had prior success or failure. However, contrary to expectations, this study finds that serial entrepreneurs without prior VC financing experience perform better than serial entrepreneurs with prior VC financing experience, suggesting that there may be an inadvertent cost of learning about the VCs. Copyright (C) 2013 Strategic Management Society.
Publisher
WILEY-BLACKWELL
Issue Date
2014-09
Language
English
Article Type
Article
Keywords

PORTFOLIO ENTREPRENEURS; MULTISTAGE SELECTION; ECONOMIC-GROWTH; PRIVATE FIRMS; DONT LEARN; PERFORMANCE; FAILURE; STRATEGY; NOVICE; EVOLUTION

Citation

STRATEGIC ENTREPRENEURSHIP JOURNAL, v.8, no.3, pp.254 - 268

ISSN
1932-4391
DOI
10.1002/sej.1161
URI
http://hdl.handle.net/10203/244603
Appears in Collection
MT-Journal Papers(저널논문)
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