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Success and Failure of Entrepreneurial Experience and New Venture Performance: Moderating Effect of Firm Age  

Park, Sangmoon (Kangwon National University)
Lee, Meesoon (Korea Small Business Institute(KOSBI))
Publication Information
Asia-Pacific Journal of Business Venturing and Entrepreneurship / v.14, no.4, 2019 , pp. 51-62 More about this Journal
Abstract
This paper investigates the effects of prior entrepreneurial experience on new venture performance. Entrepreneurial experience has significant impacts on the early development processes of new ventures founded by experienced entrepreneurs. There are inconclusive results on the relationships between entrepreneurial experience and new venture performance. Based on the data of Korean new ventures, this paper empirically analyze these relationships of different entrepreneurial experience on new venture performance. Success experience has positive effects on employment but no effect on financial performance. Failure experience has negative relationships with financial performance as well as employment. There are moderating effect of firm age on the relationship of only failure experience with performance. Finally this paper suggests theoretical and practical implications of entrepreneurial experience on new ventures' development and performances.
Keywords
Entrepreneurial Experience; Success; Failure; New Venture; Performance;
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Times Cited By KSCI : 2  (Citation Analysis)
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