Why should individuals that have exited their firm consider re-entering into entrepreneurship, i.e. become renascent entrepreneurs? According to the logic of economic models of firm dynamics there is no reason to re-enter into entrepreneurship following termination of a previous firm. In contrast, research on nascent entrepreneurship has shown the positive effect of entrepreneurial experience on planning a new firm start. Based on the empirical evidence from a database consisting of ex-entrepreneurs, this study shows that renascent entrepreneurship is a pervasive phenomenon in current society. Especially entrepreneurial human and social capital induce renascent entrepreneurship. In addition, the nature of the firm exit also affects the probability of renascent entrepreneurship.
|Keywords||Economics of Entrepreneurship, Entrepreneurial Preferences, Entrepreneurial Skills, Firm Exit, Renascent Entrepreneurship|
|JEL||Business Administration and Business Economics; Marketing; Accounting (jel M), New Firms; Startups (jel M13), Management of Technological Innovation and R&D (jel O32)|
|Publisher||Erasmus Research Institute of Management|
|Series||ERIM Report Series Research in Management|
|Journal||ERIM report series research in management Erasmus Research Institute of Management|
|Organisation||Erasmus Research Institute of Management|
Stam, F.C, Audretsch, D.B, & Meijaard, J. (2006). Renascent Entrepreneurship (No. ERS-2006-017-ORG). ERIM report series research in management Erasmus Research Institute of Management. Erasmus Research Institute of Management. Retrieved from http://hdl.handle.net/1765/7640