Selection and Serial Entrepreneurs
Selection and Serial Entrepreneurs
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选拔和连续创业者
DOI：
10.1111/jems.12016
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发表时间：
2013
期刊：
影响因子：
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通讯作者：
J. Chen
中科院分区：
文献类型：
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作者：
J. Chen
有大量证据表明，连续创业者的表现优于新创业者。但是，先前的经验和表现之间的这种积极联系是从实践中学习的结果还是对能力的选择？本文提出了一种结合固定效应模型和IV估计的策略，以区分经验选择效应和学习。通过对NLSY 79的面板数据分析，发现能力选择是影响新企业形成和早期绩效的重要因素。相比之下，只有当分析集中在与企业家以前的企业密切相关的行业中创建新的创业公司时，边做边学的效果才明显。
There is substantial evidence that serial entrepreneurs outperform de novo entrepreneurs. But is this positive association between prior experience and performance the result of learning by doing or of selection on ability? This paper proposes a strategy that combines the fixed‐effects model and IV estimations to distinguish empirically selection effects from learning. Using panel data from the NLSY79, I find that selection on ability is the more important determinant of serial business formation and the early performance of new businesses. In contrast, the effects of learning by doing are apparent only when the analysis focuses on founding new startups in sectors closely related to entrepreneurs’ previous ventures.