Do certain exit reasons favor entrepreneurial reentry?

De Hoe, Roxane [UCL] Giacomin, Olivier [European Business School] Janssen, Frank [UCL]

Using individual-level data of 8.800 exit entrepreneurs from GEM between 2007 to 2011 in 83 countries, we tested if certain exit reasons may impact the ex-entrepreneurs’ intention to reenter entrepreneurship after their prior entrepreneurial experience. With a binary logistic regression, by controlling some variables related to personal demographics (such as age and gender), we found that ex-entrepreneurs who have exited a prior business because of problems to get financed are more likely to reenter entrepreneurship in the next three years. We also tested the impact of other determinants related to human capital, fear of failure, social capital and cultural perceptions on the likelihood to restart an entrepreneurial activity.