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No entrepreneur steps in the same river twice: Limited learning advantage for serial entrepreneurs
Villanova University, USA.
Montpellier Business School & Lancaster University Management School, UK.
Södertörns högskola, Institutionen för samhällsvetenskaper, Företagsekonomi. Hanken School of Economics, Finland.ORCID-id: 0000-0003-2125-6155
Sagardoy Business & Law School, Spain.
2022 (engelsk)Inngår i: Journal of Business Research, ISSN 0148-2963, E-ISSN 1873-7978, Vol. 142, s. 1038-1052Artikkel i tidsskrift (Fagfellevurdert) Published
Abstract [en]

Deterministic learning is less feasible in high-noise and low-signal entrepreneurship contexts. The empirical evidence on serial entrepreneurs having an advantage over novice entrepreneurs is mixed. Entrepreneurs learn by lowering high noise (w) and increasing the fidelity of a learning outcome (θ). We draw on Jovanovic and Nyarko's (1995) Bayesian learning framework. Assessing learning by doing across fifteen combinations of the number of businesses and the industry distance among founded firms, our findings are bleak. Learning in successive businesses is a high-noise (w) and low-signal (θ) environment, where the progress ratio, or the ratio of total learning to initial learning, is close to 1. In launching businesses in multiple industries, these learning challenges are slightly higher. Overall, learning by doing is noisy and delivers limited improvements in business duration.

sted, utgiver, år, opplag, sider
Elsevier, 2022. Vol. 142, s. 1038-1052
Emneord [en]
Bayesian learning, Learning by doing, Serial entrepreneurs
HSV kategori
Identifikatorer
URN: urn:nbn:se:sh:diva-48325DOI: 10.1016/j.jbusres.2022.01.019ISI: 000748968000010Scopus ID: 2-s2.0-85123319186OAI: oai:DiVA.org:sh-48325DiVA, id: diva2:1634840
Tilgjengelig fra: 2022-02-03 Laget: 2022-02-03 Sist oppdatert: 2022-10-03bibliografisk kontrollert

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