Entrepreneurial Investment Cycle – A Large-scale Longitudinal Study
Research output: Contributions to collected editions/works › Chapter › peer-review
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De Gruyter Handbook of SME Entrepreneurship. ed. / Marina Dabić; Sascha Kraus. Berlin: Walter de Gruyter GmbH, 2023. p. 97-112 (De Gruyter Handbooks in Business, Economics and Finance).
Research output: Contributions to collected editions/works › Chapter › peer-review
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TY - CHAP
T1 - Entrepreneurial Investment Cycle – A Large-scale Longitudinal Study
AU - Schulte, Reinhard
N1 - Publisher Copyright: © 2023 Walter de Gruyter GmbH, Berlin/Boston.
PY - 2023/11/6
Y1 - 2023/11/6
N2 - Investment trajectories of new businesses are an often disregarded but vital aspect of new venture development. This study debuts in showing robust evidence of new venture investment time patterns by using investment time series of 4,733 new businesses. Based on a fixed effects nonlinear panel regression approach, the chapter models the trajectory of new venture asset acquisition in the first years after market entry. The results unveil durations and levels of investment patterns. Showing a first investment peak at market entry and a second peak years later, an initial new venture investment cycle is bimodal. Its peak-to-peak duration yields approximately nine years on average. New venture investment can be staggered into three stages, namely an initial, a plateau, and a replacement and expansion stage.
AB - Investment trajectories of new businesses are an often disregarded but vital aspect of new venture development. This study debuts in showing robust evidence of new venture investment time patterns by using investment time series of 4,733 new businesses. Based on a fixed effects nonlinear panel regression approach, the chapter models the trajectory of new venture asset acquisition in the first years after market entry. The results unveil durations and levels of investment patterns. Showing a first investment peak at market entry and a second peak years later, an initial new venture investment cycle is bimodal. Its peak-to-peak duration yields approximately nine years on average. New venture investment can be staggered into three stages, namely an initial, a plateau, and a replacement and expansion stage.
KW - Management studies
KW - new ventures
KW - start-up
KW - investment pattern
KW - investment trajectory
KW - fixed effects model
KW - panel data
KW - new ventures
KW - start-up
KW - investment pattern
KW - investment trajectory
KW - fixed effects model
KW - panel data
KW - Entrepreneurship
UR - https://d-nb.info/1290728305
UR - https://www.degruyter.com/document/doi/10.1515/9783110747652/html#overview
UR - http://www.scopus.com/inward/record.url?scp=85177456089&partnerID=8YFLogxK
UR - https://www.mendeley.com/catalogue/0e13d8a5-f3fb-3678-9c6f-3beec41484a9/
U2 - 10.1515/9783110747652-006
DO - 10.1515/9783110747652-006
M3 - Chapter
SN - 978-3-11-074752-2
SN - 3-11-074752-9
T3 - De Gruyter Handbooks in Business, Economics and Finance
SP - 97
EP - 112
BT - De Gruyter Handbook of SME Entrepreneurship
A2 - Dabić, Marina
A2 - Kraus, Sascha
PB - Walter de Gruyter GmbH
CY - Berlin
ER -