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What emerges is the realization that entrepreneurs are far from being fully rational economic actors, who exploit optimally all information and who are driven only by objective considerations.
Particularly, our findings indicate that young as well as senior, well-educated entrepreneurs who built entrepreneurial teams and, at the same time, had access to larger and more professional networks constitutes the typical profile of an EIF founder in Latin America.
In addition, the study demonstrates how such entrepreneurs develop their identity.
We find that in less developed countries older and higher educated entrepreneurs are particularly important for stimulating economic growth, while for developed countries younger entrepreneurs are more important.
Entrepreneurs, both financially constrained and unconstrained, who have a business plan tend to start their entrepreneurial ventures earlier.
The crucial assumption is that some entrepreneurs benet more from technological progress than others.
Non-consensus entrepreneurs who buck the trends are most likely to stay in the market, receive funding, and ultimately go public.
In total, 293 nascent entrepreneurs were interviewed by telephone. Findings – Preliminary analysis results of the first‐wave survey show that nascent entrepreneurs are featured as young, educated, and experienced.
Through in-depth case studies of eight sets of entrepreneurs who exploit a single MIT invention, I show that entrepreneurs discover opportunities related to the information that they already possess.
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.
We have evidence of one group of high-technology entrepreneurs who achieved success without placing much decision weight on attainment of personal wealth.
Journal ArticleDOI
01 Apr 2009-World Development
88 Citations
Despite this challenging context, this paper finds that entrepreneurs make on average 20% more than non-entrepreneurs, while being similar in age, marital status, educational attainment, and socio-economic background.
We suggest that Thai entrepreneurs who can perform entrepreneurial activities that match the market opportunities(market-driven entrepreneurs) better than competitors are likely to succeed, as opposed to those who rely merely on product-driven strategies.
Also as hypothesized, the presence of a large number of inventor-entrepreneurs in a sample tends to dilute the usual finding of a strong positive correlation between type of entrepreneur and type of firm measures; among inventor-entrepreneurs it is not necessarily true that opportunistic entrepreneurs tend to head adaptive firms and craftsman entrepreneurs head rigid ones.