Existing literature suggests that entrepreneurs with prior firm-founding experience have more skills and social … connections than novice entrepreneurs. Such skills and social connections could give experienced founders some advantage in the … experienced founders' access to venture capital. Compared to novice entrepreneurs, entrepreneurs with venture-backed founding …

We study entrepreneurs' start-up financing from banks and local financiers. An informal network, whose membership … cannot be observed by outsiders, conveys the good signals it gets about the hidden types of network entrepreneurs to local … absence of a network. Thus, the formation of the network is inefficient as entrepreneurs incur networking costs for purely …

Although comprehensive data from official statistics on new firm formation and entrepreneurs starting a new business …

introduce specificity in credit relationships, and assume that credit to potential entrepreneurs is rationed due to endogenous …

Research shows that most ventures fail, yet it has devoted limited attention to the consequences of entrepreneurs' past …. Therefore, failure conveys ambiguous information about skill. We predict that investors will discount entrepreneurs that … of failure into luck and skill. Our results indicate that investors discount entrepreneurs who have experienced failure …