Post by account_disabled on May 1, 2024 23:15:07 GMT -5
Gompers Anna Kovner Josh Lerner and David S. Scharfstein All else equal a venture capital backed entrepreneur who starts a company that goes public has a percent chance of succeeding in his or her next venture. First time entrepreneurs on the other hand have only an percent chance of succeeding and entrepreneurs who previously failed have a percent chance of succeeding.
But why do these contrasts exist Such performance persistence as in the first example is usually taken as evidence of skill. However in the context of entrepreneurship the belief that successful entrepreneurs are more skilled than unsuccessful ones can induce real performance persistence. In this way success South Africa WhatsApp Number List breeds success even if successful entrepreneurs were just lucky. Success breeds even more success if entrepreneurs have some skill. Key concepts include There is evidence for the role of skill as well as the perception of skill in inducing performance persistence. Author Abstract This paper presents evidence of performance persistence in entrepreneurship.
We show that entrepreneurs with a track record of success are much more likely to succeed than first time entrepreneurs and those who have previously failed. In particular they exhibit persistence in selecting the right industry and time to start new ventures. Entrepreneurs with demonstrated market timing skill are also more likely to outperform industry peers in their subsequent ventures. This is consistent with the view that if suppliers and customers perceive the entrepreneur to have market timing skill and is therefore more likely to succeed they will be more willing to commit resources to the firm.
But why do these contrasts exist Such performance persistence as in the first example is usually taken as evidence of skill. However in the context of entrepreneurship the belief that successful entrepreneurs are more skilled than unsuccessful ones can induce real performance persistence. In this way success South Africa WhatsApp Number List breeds success even if successful entrepreneurs were just lucky. Success breeds even more success if entrepreneurs have some skill. Key concepts include There is evidence for the role of skill as well as the perception of skill in inducing performance persistence. Author Abstract This paper presents evidence of performance persistence in entrepreneurship.
We show that entrepreneurs with a track record of success are much more likely to succeed than first time entrepreneurs and those who have previously failed. In particular they exhibit persistence in selecting the right industry and time to start new ventures. Entrepreneurs with demonstrated market timing skill are also more likely to outperform industry peers in their subsequent ventures. This is consistent with the view that if suppliers and customers perceive the entrepreneur to have market timing skill and is therefore more likely to succeed they will be more willing to commit resources to the firm.