“…Literature specific to serial entrepreneurship suggests that individuals with multiple entrepreneurial experiences are, in general, more educated than novice entrepreneurs (Donckels et al 1987;Kolvereid and 2 Previous spells of non-employment are controlled for in our empirical analysis; however, for the context of this investigation, it is expected that ex-entrepreneurs derive no direct utility from having had a non-employment experience and that it has no significant impact on the decision of re-entering entrepreneurship.…”
“…Literature specific to serial entrepreneurship suggests that individuals with multiple entrepreneurial experiences are, in general, more educated than novice entrepreneurs (Donckels et al 1987;Kolvereid and 2 Previous spells of non-employment are controlled for in our empirical analysis; however, for the context of this investigation, it is expected that ex-entrepreneurs derive no direct utility from having had a non-employment experience and that it has no significant impact on the decision of re-entering entrepreneurship.…”
“…As a result of prior business ownership experience, many experienced entrepreneurs may have developed skills and competencies, a network of contacts, a business reputation and a track record. The development of a portfolio of businesses suggests a need for greater managerial skills (Donckels et al, 1987). In Scotland, portfolio entrepreneurs highlighted the importance of human capital resources.…”
Section: Background and Motivations Of Entrepreneursmentioning
Policy-makers and practitioners are considering whether to allocate resources towards portfolio and serial entrepreneurs, as well as the provision of additional initiatives to increase the pool of novice entrepreneurs. To inform this policy debate, univariate statistical tests were used to test for differences between 354 firms owned by novice, serial and portfolio entrepreneurs in Scotland. Also, univariate tests were conducted to compare responses made by pairwise groups of entrepreneurs. No significant differences were detected between the three types of entrepreneurs with regard to several entrepreneur and firm demographic characteristics. Additional analysis revealed that portfolio entrepreneurs have more diverse experiences, and more resources than serial or novice entrepreneurs. On average, portfolio entrepreneurs appear to offer more attractive growth prospects than other entrepreneurs. Copyright Springer 2005
“…Several small units reduce the risk for the entire business structure (Sarasvathy and Menon 2004;Westhead and Wright 1999). In addition, taxand family-related issues also play an important role for entrepreneur A (Birley and Westhead 1993;Donckels et al 1987;Westhead and Wright 1998). Entrepreneur B, on the other hand, comes across ideas almost by chance.…”
Section: Resultsmentioning
confidence: 99%
“…Successful habitual entrepreneurs mostly implement the opportunities together with partners (Donckels et al 1987). In all four case studies, the direct project network was relatively small for serial and portfolio entrepreneurs.…”
Section: Cross-case Conclusion: How Habitual Entrepreneurs Implementmentioning
Habitual entrepreneurs are a frequent and important phenomenon in entrepreneurship and for the economy. We lack, however, a systematic understanding of the advantages or disadvantages of multiple business ownership and specifically if portfolio and serial entrepreneurs are different in detecting and exploiting opportunities. Research on habitual entrepreneurs has mainly focused on a human capital and an organizational perspective. In order to further advance our understanding of habitual entrepreneurship, we conducted a case study research focusing on the social capital of habitual entrepreneurs and on how, by investigating differences between serial and portfolio entrepreneurs, it is related to the emergence and exploitation of opportunities.
JEL: L26 -Entrepreneurship
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