Dr. Espinoza-Benavides, Jorge

Purpose: This study aims to evaluate the role of entrepreneurial ecosystems conditions (formal, informal and social capital) on different types of entrepreneurial re-entry at a global scale. Design/methodology/approach: Given this phenomenon’s nature, this study builds a panel of data of 54 economies covering different (advanced and emerging) countries across the globe during the period 2004–2017 by mixing multiples sources of information (e.g. Global Entrepreneurship Monitor, the World Economic Forum, the World Bank and the International Monetary Fund). The statistical analysis consisted of the fixed-effect dynamic generalized method of moments (GMM) estimation for panel data. Findings: Three empirical insights emerge from the study. First, the entrepreneurial ecosystem’s formal conditions are mainly configured to support high-growth entrepreneurship ignoring re-entrepreneurs. Consequently, the formal conditions’ contribution is very limited in emerging economies. Second, the analysis of informal conditions revealed social media’s critical contribution for legitimizing entrepreneurship and supporting those entrepreneurs who want to re-enter the domestic or international market after a business failure. Third, social networks built during previous business angels or entrepreneurial experiences or with other entrepreneurs also play a crucial role for re-entrepreneurs to overcome the weaknesses in the entrepreneurial ecosystems’ conditions. Originality/value: The study contributes to two ongoing academic debates among entrepreneurship scholars. The first is related to how the entrepreneurial ecosystem supports entrepreneurial activity in different economic contexts. The second is related to the study of the contextual determinants of entrepreneurial re-entry after a business failure.

Purpose – The purpose of this paper is to examine the profile of entrepreneurs who failed in previous businesses, but despite their initial failure, decide to start or maintain another business. Based on the literature, re-entrepreneurs present some unique characteristics that allow them to overcome and learn from their previous ventures. Moreover, following the institutional dimensions literature, the paper shows that these dimensions should also affect the prevalence and type of re-entrepreneurial profiles. Design/methodology/approach – Traditional ANOVA and logistic regression analysis were used as a way to test several hypotheses. Moreover, decision trees were implemented to provide further insights with respect to the characteristics of the relationships under study. Data from the Global Entrepreneurship Monitor Survey (Adult Population Survey 2016 for Chile) is the main source of information. Findings – The results of this paper show that for Chilean entrepreneurs, there is a different profile between those who fail and abandon and those who decide to start a new business after failing. These differences show that post-failure entrepreneurs behave like angel investors, have better business skills and are more experienced. Additionally, they are more likely to share ownership of their new business. Originality/value – The paper contributes to the literature with empirical results that validate that failure determines special characteristics in entrepreneurs through a methodology that is relatively new in the community. Also, the paper discusses how institutions (institutional theory) could play a role in this phenomenon. This can help decision makers and the academic community better understand the nature of this type of entrepreneur and thus provide insights for more focussed public policies and better-informed business decisions.