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A Comparison of Business Success versus Failure Variables between U.S. and Central Eastern Europe Croatian Entrepreneurs

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  • Robert N. Lussier
  • Sanja Pfeifer

Abstract

In this study, 15 success versus failure variables were tested for differences between U.S. and Central Eastern Europe Croatian (CEEC) entrepreneurs. Nine of the values were significantly different at the .05 level and two at the .10 level (73%). U.S. Entrepreneurs started with greater capital, had more years of management experience, developed more detailed planning, made greater use of professional advice, had more college graduates, sold products with better product life-cycle timing, started their business during better economic times, were older, included more partnerships, and had more parents who owned a business than CEEC entrepreneurs, while CEEC entrepreneurs had an easier time staffing than U.S. entrepreneurs. The Lussier (1995) U.S. success versus failure prediction model was tested using logistic regression (S/F = f staffing, education, use of professional advice, planning) and it was also a significant predictor in CEEC. The findings should help lead to redefining entrepreneurship in CEEC, as many of its countries commonly believe that human resources have little to do with business success and failure. As the view of human resources changes, more resources should be allocated to develop employees.

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  • Robert N. Lussier & Sanja Pfeifer, 2000. "A Comparison of Business Success versus Failure Variables between U.S. and Central Eastern Europe Croatian Entrepreneurs," Entrepreneurship Theory and Practice, , vol. 24(4), pages 59-67, July.
    • Handle: RePEc:sae:entthe:v:24:y:2000:i:4:p:59-67
    DOI: 10.1177/104225870002400404
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    Cited by:

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    2. Issham Ismail & Robitah Spian & Goh Kong Tay, 2012. "Entrepreneurial Motivation Linking Entrepreneurial Motivation, Related Experience, Environment Hostility with Financial Success," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 2(1), pages 150-161, January.
    3. Toyah L. Miller & Curtis L. Wesley II, 2010. "Assessing Mission and Resources for Social Change: An Organizational Identity Perspective on Social Venture Capitalists‘ Decision Criteria," Entrepreneurship Theory and Practice, , vol. 34(4), pages 705-733, July.
    4. Coviello, Nicole E. & Jones, Marian V., 2004. "Methodological issues in international entrepreneurship research," Journal of Business Venturing, Elsevier, vol. 19(4), pages 485-508, July.
    5. Shaike Marom & Robert N. Lussier, 2014. "A Business Success Versus Failure Prediction Model for Small Businesses in Israel," Business and Economic Research, Macrothink Institute, vol. 4(2), pages 63-81, December.
    6. Benjamin Vedel & Florence Law & Ines Gabarret, 2016. "La start-up est morte, vive la start-up ! Etude de la survie d'une entreprise en création sous le prisme de l'effectuation," Post-Print hal-01898936, HAL.
    7. Thom, Marco, 2015. "The entrepreneurial value of arts incubators: Why fine artists should make use of professional arts incubators," Working Papers 02/15, Institut für Mittelstandsforschung (IfM) Bonn.
    8. Thom, Marco, 2016. "Crucial skills for the entrepreneurial success of fine artists," Working Papers 01/16, Institut für Mittelstandsforschung (IfM) Bonn.
    9. Marian V. Jones & Lucrezia Casulli, 2014. "International Entrepreneurship: Exploring the Logic and Utility of Individual Experience through Comparative Reasoning Approaches," Entrepreneurship Theory and Practice, , vol. 38(1), pages 45-69, January.
    10. Luca Pistilli & Alessia Paccagnini & Stefano Breschi & Franco Malerba, 2023. "Gender Bias in Entrepreneurship: What is the Role of the Founders’ Entrepreneurial Background?," Journal of Business Ethics, Springer, vol. 187(2), pages 325-346, October.
    11. Kiss, Andreea N. & Danis, Wade M. & Cavusgil, S. Tamer, 2012. "International entrepreneurship research in emerging economies: A critical review and research agenda," Journal of Business Venturing, Elsevier, vol. 27(2), pages 266-290.
    12. Daniela Santos da Silva & António Cerqueira & Elísio Brandão, 2016. "Portuguese Startups: a success prediction model," FEP Working Papers 581, Universidade do Porto, Faculdade de Economia do Porto.

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