Using a novel dataset of 149 early stage start-up firms, I empirically examine how prior entrepreneurial founding experience affects the timing and valuation of venture capital (VC) funding. Such founding experience results in both enhanced skill in building current start-ups and in improved...

The performance of clusters has been linked in several studies to their historical and geographical contexts as well as to the drivers that shape the competitive strength of nations. Among these drivers, the human factor and universities play a key role in the competitiveness of nations, as well...

This paper uses a multi-dimensional perspective on social capital to investigate how a microfinance institution can enhance the social capital of poor entrepreneurs. Findings show that by creating an environment that encourages frequent meetings and interactions between borrowers, group-based...

The present study aimed at verifying how different modes of governance structure are linked to different levels of interorganisational trust. Its theoretical grounding involves Transaction Cost Theory, which studies governance of interorganisational arrangements and research on trust in the...

Previous research has emphasized the positive impact of supportive informal relations on workers in various occupational settings. Such support seems particularly important for workers who aspire to be self-employed, running their own businesses. Existing theory, however, offers little guidance...

This study examines how institutional conditions provide assurances founders seek when creating businesses. Classical theories predict legal institutions promote supportive conditions that foster business creation. We develop an alternative theory for why this relationship is not as...

Immigrants are widely perceived as being highly entrepreneurial and important for economic growth and innovation. This is reflected in immigration policies, and many developed countries have created special visas and entry requirements in an attempt to attract immigrant entrepreneurs. Not...

In this paper, we study the intertemporal relations within two phases of the venture creation process based on data from administrative data sources. By distinguishing a pre- and post-period, we address two major issues: (1) we identify which factors make people wait to start a venture, and (2)...

Immigrants are widely perceived as being highly entrepreneurial and important for economic growth and innovation. This is reflected in immigration policies and many developed countries have created special visas and entry requirements in an attempt to attract immigrant entrepreneurs. Not...

Abstract: The overwhelming majority of self-employed individuals are not entrepreneurial in the Schumpeterian sense. In order to unmistakably identify Schumpeterian entrepreneurs we focus on self-made billionaires (in USD) on Forbes Magazine's list who became wealthy by founding new firms. In...