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Entrepreneurial Persistence Beyond Survival: Measurement and Determinants

  • Entrepreneurial persistence is demonstrated by an entrepreneur’s continued positive maintenance of entrepreneurial motivation and constantly-renewed active engagement in a new business venture despite counter forces or enticing alternatives. It is thus a crucial factor for entrepreneurs when pursuing and exploiting their business opportunities and to realize potential economic gains and benefits. Using rich data on a representative sample of German business founders, we investigate the determinants of entrepreneurial persistence. Next to observed survival we also construct a hybrid persistence measure capturing also the motivational dimension of persistence. We analyze the influence of individual-level (human capital and personality) and business-related characteristics on both measures as well as their relative importance. We find that the two indicators emphasize different aspects of persistence. For the survival indicator, the predictive power is concentrated in business characteristics and human capital, while for hybridEntrepreneurial persistence is demonstrated by an entrepreneur’s continued positive maintenance of entrepreneurial motivation and constantly-renewed active engagement in a new business venture despite counter forces or enticing alternatives. It is thus a crucial factor for entrepreneurs when pursuing and exploiting their business opportunities and to realize potential economic gains and benefits. Using rich data on a representative sample of German business founders, we investigate the determinants of entrepreneurial persistence. Next to observed survival we also construct a hybrid persistence measure capturing also the motivational dimension of persistence. We analyze the influence of individual-level (human capital and personality) and business-related characteristics on both measures as well as their relative importance. We find that the two indicators emphasize different aspects of persistence. For the survival indicator, the predictive power is concentrated in business characteristics and human capital, while for hybrid persistence, the dominant factors are business characteristics and personality. Finally, we show that results are heterogeneous across subgroups. In particular, formerly-unemployed founders do not differ in survival chances, but they are more likely to lack a high psychological commitment to their business ventures.show moreshow less

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Metadaten
Author details:Marco CaliendoORCiDGND, Maximilian GoethnerGND, Martin WeißenbergerGND
URN:urn:nbn:de:kobv:517-opus4-434563
DOI:https://doi.org/10.25932/publishup-43456
ISSN:2628-653X
Title of parent work (English):CEPA Discussion Papers
Publication series (Volume number):CEPA Discussion Papers (11)
Publication type:Working Paper
Language:English
Date of first publication:2019/09/11
Publication year:2019
Publishing institution:Universität Potsdam
Release date:2019/09/11
Tag:Entrepreneurship; Persistence; Start-ups; Survival
Issue:11
RVK - Regensburg classification:QC 010, QP 380
Organizational units:Wirtschafts- und Sozialwissenschaftliche Fakultät / Wirtschaftswissenschaften
Zentrale und wissenschaftliche Einrichtungen / Center for Economic Policy Analysis (CEPA)
DDC classification:3 Sozialwissenschaften / 33 Wirtschaft / 330 Wirtschaft
JEL classification:L Industrial Organization / L2 Firm Objectives, Organization, and Behavior / L26 Entrepreneurship
M Business Administration and Business Economics; Marketing; Accounting / M1 Business Administration / M13 New Firms; Startups
Peer review:Nicht referiert
License (German):License LogoKeine öffentliche Lizenz: Unter Urheberrechtsschutz
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