000			03132cam a22003617 4500
001			w20312
003			NBER
005			20211020105856.0
006			m o d
007			cr cnu||||||||
008			210910s2014 mau fo 000 0 eng d
100	1		_aLafontaine, Francine. _914757
245	1	0	_aSerial Entrepreneurship: _bLearning by Doing? / _cFrancine Lafontaine, Kathryn Shaw.
260			_aCambridge, Mass. _bNational Bureau of Economic Research _c2014.
300			_a1 online resource: _billustrations (black and white);
490	1		_aNBER working paper series _vno. w20312
500			_aJuly 2014.
520	3		_aAmong typical entrepreneurs, is the serial entrepreneur more likely to succeed? If so, why? We answer these two questions using a comprehensive and unique data set on all establishments started at any time between 1990 and 2011 to sell taxable goods and services in the state of Texas. An entrepreneur is defined as the owner of a new business. A serial entrepreneur is one who opens repeat businesses. The success of the business is measured by the duration over which the business is in operation. The data show that serial entrepreneurship is relatively uncommon in retail trade. Of the almost 2.3 million retail businesses of small owners of new businesses in our data, only 25 percent are started by owners who have started at least one business before, and only 8 percent are started by an owner who is still operating at least one other business started earlier. However, once one becomes an entrepreneur for a second time, the probability of becoming one a third time, or fourth time, and so on, keeps rising. Moreover, we find that an owner's prior experience at starting a business increases the longevity of the next business opened, and that controlling for person fixed effects, prior experience still matters. Finally, experience at starting retail businesses in other sectors (e.g. a clothing store versus a repair shop) is beneficial as well, though not as much as same sector experience, and not in the restaurant sector. We conclude that prior experience imparts general skills that are useful in running the new business.
530			_aHardcopy version available to institutional subscribers
538			_aSystem requirements: Adobe [Acrobat] Reader required for PDF files.
538			_aMode of access: World Wide Web.
588	0		_aPrint version record
690		7	_aJ00 - General _2Journal of Economic Literature class.
690		7	_aJ24 - Human Capital • Skills • Occupational Choice • Labor Productivity _2Journal of Economic Literature class.
690		7	_aL26 - Entrepreneurship _2Journal of Economic Literature class.
690		7	_aL81 - Retail and Wholesale Trade • e-Commerce _2Journal of Economic Literature class.
700	1		_aShaw, Kathryn.
710	2		_aNational Bureau of Economic Research.
830		0	_aWorking Paper Series (National Bureau of Economic Research) _vno. w20312.
856	4	0	_uhttps://www.nber.org/papers/w20312
856			_yAcceso en línea al DOI _uhttp://dx.doi.org/10.3386/w20312
942			_2ddc _cW-PAPER
999			_c327811 _d286373