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How does the age of serial entrepreneurs influence their re-venture speed after a business failure?

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  • Song Lin

    (Central University of Finance and Economics)

  • Shihui Wang

    (Peking University)

Abstract

How does the age of serial entrepreneurs influence re-venture speed after a business failure? The prevailing notion is that the older the entrepreneur, the lower the likelihood of starting a re-venture. However, in real-world practice, many older entrepreneurs start to re-venture quickly after a business failure, and this phenomenon still cannot be explained by present research on the subject. This study takes the age of serial entrepreneurs, the failure loss and family support as the antecedent variables that affect re-venture speed. The direct impact of an entrepreneur’s age is also moderated by failure loss and family support. A total of 268 serial entrepreneurs with business failure experience located in the Bohai Economic Rim of China were included in the study. The results showed that the older the serial entrepreneur, the longer the time taken to start a venture again. Additionally, the larger the failure loss, the slower the re-venture speed. Finally, the relationship between a serial entrepreneur’s age and re-venture speed strengthens when the failure loss is large and weakens when family support is strong.

Suggested Citation

  • Song Lin & Shihui Wang, 2019. "How does the age of serial entrepreneurs influence their re-venture speed after a business failure?," Small Business Economics, Springer, vol. 52(3), pages 651-666, March.
    • Handle: RePEc:kap:sbusec:v:52:y:2019:i:3:d:10.1007_s11187-017-9977-0
    DOI: 10.1007/s11187-017-9977-0
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    2. Costa, Paula L. & Ferreira, João J. & Torres de Oliveira, Rui, 2023. "From entrepreneurial failure to re-entry," Journal of Business Research, Elsevier, vol. 158(C).
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    4. Yuying Wu & Zhiqiang Wang & Yuan Lu, 2023. "Mapping the evolution of entrepreneurial research themes in China: A combination analysis of co-word and critical event," Asia Pacific Journal of Management, Springer, vol. 40(3), pages 1133-1167, September.
    5. Jianing Dong & Xiao Wang & Xuanwei Cao & David Higgins, 2022. "More Prosocial, More Ephemeral? The Role of Work-Related Wellbeing and Gender in Incubating Social Entrepreneurs’ Exit Intention," IJERPH, MDPI, vol. 19(7), pages 1-21, March.
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    7. Kumju Hwang & Jinsook Choi, 2021. "How Do Failed Entrepreneurs Cope with Their Prior Failure When They Seek Subsequent Re-Entry into Serial Entrepreneurship? Failed Entrepreneurs’ Optimism and Defensive Pessimism and Coping Humor as a ," IJERPH, MDPI, vol. 18(13), pages 1-24, June.
    8. Kent Adsbøll Wickstrøm & Kim Klyver & Maryam Cheraghi-Madsen, 2022. "Age effect on entry to entrepreneurship: embedded in life expectancy," Small Business Economics, Springer, vol. 58(1), pages 57-76, January.
    9. Shahid, Pirzada Syed Rizwan, 2023. "Founder's Human Capital and the Entrepreneurial Process Duration," OSF Preprints yf6mg, Center for Open Science.
    10. Martin Hemmert & Adam R. Cross & Ying Cheng & Jae-Jin Kim & Masahiro Kotosaka & Franz Waldenberger & Leven J. Zheng, 2022. "New venture entrepreneurship and context in East Asia: a systematic literature review," Asian Business & Management, Palgrave Macmillan, vol. 21(5), pages 831-865, November.

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