What Happens to Nascent Entrepreneurs? An Econometric Analysis of the PSED

What Happens to Nascent Entrepreneurs? An Econometric Analysis of the PSED This article follows the progress of a large and nationally representative sample of American nascent entrepreneurs – identified in the initial interview of the Panel Study of Entrepreneurial Dynamics (PSED) – over the next 12 months of the panel. We develop a novel theoretical framework based on maximisation of expected utility and the value of waiting, and estimate it to reveal which personal and economic characteristics are associated with venture start-up – and which are associated with remaining a nascent entrepreneur, or giving up entirely. The value of waiting turns out to play a key role in helping us understand what happens to nascent entrepreneurs. We discuss the implications of our results for entrepreneurs, lenders, business start-up support agencies and policy-makers. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Small Business Economics Springer Journals

What Happens to Nascent Entrepreneurs? An Econometric Analysis of the PSED

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Publisher
Springer Journals
Copyright
Copyright © 2006 by Springer Science+Business Media, Inc.
Subject
Business and Management; Management; Microeconomics; Entrepreneurship; Industrial Organization
ISSN
0921-898X
eISSN
1573-0913
D.O.I.
10.1007/s11187-006-9003-4
Publisher site
See Article on Publisher Site

Abstract

This article follows the progress of a large and nationally representative sample of American nascent entrepreneurs – identified in the initial interview of the Panel Study of Entrepreneurial Dynamics (PSED) – over the next 12 months of the panel. We develop a novel theoretical framework based on maximisation of expected utility and the value of waiting, and estimate it to reveal which personal and economic characteristics are associated with venture start-up – and which are associated with remaining a nascent entrepreneur, or giving up entirely. The value of waiting turns out to play a key role in helping us understand what happens to nascent entrepreneurs. We discuss the implications of our results for entrepreneurs, lenders, business start-up support agencies and policy-makers.

Journal

Small Business EconomicsSpringer Journals

Published: Aug 1, 2006

References

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