Performance persistence in entrepreneurship
By: Paul A. Gompers, Anna Kovner, Josh Lerner, and David S. Scharfstein
Contributors: Kovner, Anna; Lerner, Joshua; Scharfstein, David; Harvard Business School
Series: Working paper / Harvard Business School -- 09-028; Working paper (Harvard Business School) -- 09-028
Publisher: Harvard Business School
Published: 2008
Place of publication: Boston
Language: eng
Number of pages: 35
Description: 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. In this way, success breeds success and strengthens performance persistence.
Notes: "September 2008"--Publisher's web site.

Includes bibliographical references.