scholarly journals If You Don't Succeed, Should You Try Again? The Role of Entrepreneurial Experience in Venture Survival

2014 ◽  
Author(s):  
Sandra Gottschalk ◽  
Francis J. Greene ◽  
Daniel Hoewer ◽  
Bettina Mueller
Keyword(s):  
Entrepreneurial Experience

scholarly journals VC investors’ venture screening: the role of the decision maker’s education and experience

2021 ◽  
Author(s):  
Alexandra Moritz ◽  
Walter Diegel ◽  
Joern Block ◽  
Christian Fisch
Keyword(s):  
Value Added ◽  
Management Team ◽  
Decision Makers ◽  
Risk Capital ◽  
Screening Criteria ◽  
Entrepreneurial Ventures ◽  
Entrepreneurial Experience ◽  
Investment Experience ◽  
Practical Implications

AbstractWe assess whether and how VC investors’ education and experience influence their screening decisions of potential investee candidates. Empirically, we perform an experimental choice-based-conjoint (CBC) analysis with 564 individual VC investors. Our results highlight that the level and field of education, as well as the decision maker’s investment and entrepreneurial experience, moderate the relative importance of different screening criteria. More specifically, we find that international scalability seems to become more important for decision makers with higher education and those with entrepreneurial experience. Whereas decision makers with a background in natural science focus on the value-added of the product or service, engineers seem to value a break even profitability and focus less on the management team. Investment experience, on the other hand, leads to a stronger focus on the management team. Our study contributes to the literature investigating the influence of human capital characteristics of the decision maker in venture financing. Practical implications exist for entrepreneurial ventures seeking financing and for risk capital investors making investments in such ventures.

scholarly journals Is a bit more experience bad? The role of entrepreneurial experience on investment rate

2019 ◽  
Vol 25 (6) ◽  
pp. 1166-1187 ◽  
Author(s):  
Bach Nguyen
Keyword(s):  
Small Businesses ◽  
Content Type ◽  
Investment Projects ◽  
Entrepreneurial Experience ◽  
Start Up ◽  
Novice Entrepreneurs ◽  
New Perspective ◽  
General Method Of Moments ◽  
General Method

Purpose This study investigates the influence of entrepreneurial experience on small business investment. The purpose of this paper is to examine whether entrepreneurs with more prior start-up experience are better able to identify business opportunities and successfully transform these opportunities into investment projects. Design/methodology/approach The empirical setting in this study is Vietnam. The authors employ a panel data of small businesses (mostly households) from 2005 to 2013, and use a fixed effect method to estimate the regression coefficients. The results are also re-checked using the general method of moments and matching technique. Findings Empirically, it is found that entrepreneurial experience is an important determinant of investment decisions. Specifically, entrepreneurs with one start-up experience make more investments than novice entrepreneurs. However, entrepreneurs with more than one start-up experience do not make more investments than entrepreneurs with one start-up experience. Research limitations/implications This is country-specific research. Further study may employ data from multi-countries to re-test the validity of the hypotheses. Originality/value This study provides a new perspective for analysing the role of entrepreneurial experience on entrepreneurial investments. It shows that prior start-up experience may turn out to be a liability to entrepreneurs since it restricts their ability to identify new opportunities.

scholarly journals The Innovative Managerial Role of Jenő de Polnay as the Key Element to the Success of the Atlantica Sea Navigation Company within the Hungarian Maritime Fleet (1907–1914)

2021 ◽  
pp. 140-147
Author(s):  
Márton Pelles ◽  
Keyword(s):  
20Th Century ◽  
Great War ◽  
Shipping Company ◽  
Managerial Skills ◽  
Managerial Role ◽  
Entrepreneurial Experience ◽  
State Archives ◽  
Hungarian State ◽  
The Great War

The Atlantica Sea Navigation Company was the most innovative of the Hungarian sea navigation companies. In my study, I shall present the company’s operations from its founding in 1907 until the beginning of the Great War in 1914. I shall greatly emphasise the analysis of how the company led by Jenő Polnay de Tiszasüly was able to grow in only 7 years into a shipping company that shipped with 12 modern steamships. Thanks to his previous entrepreneurial experience Polnay managed to join the Hungarian State and the Austro-Hungarian Bank to found the company. After this, he had British shipyards design steamships that were able to transport large capacity timber at low bearing depth. He then concluded beneficial deals with the Hungarian State Railways and the Transylvanian and Russian suppliers. The first application of the ’quick despatch’ principle in Hungary is also bound to the name Polnay. Atlantica shipped cheaper if the ships were loaded swifter. Based on the sources of the Rijeka State Archives, I shall investigate the question how the innovative managerial skills of Jenő de Polnay attributed to the efficiency of Atlantica Co. in goods transportation and how the company became the most successful Hungarian tramp trade company of the beginning of the 20th century.

scholarly journals The provenance and effects of entrepreneurial inspiration

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Anne Rienke Van Ewijk ◽  
Ghulam Nabi ◽  
Wiebke Weber
Keyword(s):  
Explanatory Power ◽  
Entrepreneurial Intentions ◽  
Hierarchical Regression ◽  
Content Type ◽  
Entrepreneurial Experience ◽  
Affect Infusion Model ◽  
Dependent Sample ◽  
Moderating Role ◽  
Insight Into

PurposeBuilding on authoritative studies on inspiration in the field of psychology (e.g. Thrash and Elliot, 2013, 2014), this study aims to clarify how entrepreneurial inspiration – an emotional state of personal attraction toward entrepreneurship – is created and how it affects entrepreneurial intentions. First, receptiveness to inspiration is introduced as a potential entrepreneurial feeling trait that constitutes a universal enabler of entrepreneurial inspiration alongside typically idiosyncratic inspirational triggers. Second, this study proposes to reinforce the theoretical base of the relation between entrepreneurial inspiration and entrepreneurial intentions by applying the affect infusion model (AIM) and empirically testing its explanatory power.Design/methodology/approachHypotheses are tested through independent and dependent sample t-tests and hierarchical regression analyses with an interaction effect. Data originate from a pre-post course survey among 342 entrepreneurship students from various countries and institutions.FindingsThe results confirm a positive relation between receptiveness to inspiration and entrepreneurial inspiration. Receptiveness to inspiration precedes and increases with entrepreneurial experience, suggesting that it can be both inborn and cultivated. In line with the AIM, entrepreneurial inspiration stimulates only the entrepreneurial aspirations of participants without entrepreneurial experience. Experienced individuals, on the other hand, derived more entrepreneurial inspiration from their courses, but this was not translated to higher entrepreneurial intentions. Instead, they could benefit from this inspiration in other ways proposed in the literature, such as enhanced opportunity recognition.Originality/valueThis study provides much needed, theory-informed, insight into the formation of entrepreneurial inspiration. Furthermore, it is the first research to propose and test a specific theoretical underpinning of the relation between entrepreneurial inspiration and entrepreneurial intentions, which also accounts for the moderating role of entrepreneurial experience. Finally, the rare multi-country, multi-institution nature of the sample reinforces the external validity of the findings.

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