ObjectivesThis article has as main objective to check how some entrepreneur's and venture characteristics are related to new social venture survival. Specifically, related to the venture, five conditions have been studied, these conditions are: venture workforce, initial capital and three variables that assess the quality of the social venture plan (business plan). Regarding the entrepreneur's conditions, the experience related to the new venture activity, training level and specific training, and entrepreneurship motivation have been taken into account. Study design and methodologyThe study uses a sample that oscillates between 291 and 212 start-ups according to the period considered. The two outcome original variables are survival at 31 December of the third year (ST+3) and at 31 December of the sixth year (ST+6) after the new venture foundation. Both variables are dichotomous (1 = survival; 0 = failure).The access to this sample has been possible with the collaboration of the Program Management and Planning Service from the Valencia Institute of Youth (IVAJ). This institution provided data on these ventures, whose creators were young entrepreneurs under 30 years old, or under 30 years but partnered with co-workers aged over 30 years, who applied for a grant.Our propositions or tenets imply the existence of an interplay between business plan quality and entrepreneur and firm characteristics. In this case, different combinations of causal conditions could lead to the same outcome. Therefore, taking into account the limitations of conventional quantitative methods to study the effect of different possible causal recipes on survival, this study uses Qualitative Comparative Analysis, specifically fsQCA. QCA methods build and test theories of complex antecedent conditions that are sufficient or necessary to explain an outcome condition (e.g., firm survival). That is, the goal is to determine if any of the conditions, or a combination of the conditions that have been numbered in the previous section are sufficient or necessary to explain new social ventures' survival. ResultsDue to the nature of the analysis that has been applied, the results can be divided into two blocks. The first one come from testing whether any of the causal conditions and their negation are necessary for the 3-year and 6-year survival. Our results show that any of the antecedent conditions is necessary or "almost necessary" for any outcome condition because any consistency score exceeds the threshold of 0.9.The second group of results shows models of sufficiency analysis. In ST+3 there are four main causal configurations that lead to firm survival. There are some conditions that are present in the four combinations, these conditions are both specific training and the level of entrepreneur's training, economic and organizational viability and initial capital. On the other hand, one of the combinations shows a curious characteristic, that is, the lack of financial viability makes the likelihood of survival grow. The most logic explanation is t...
RESuMENThe purpose of this study is to analyze the influence of physical and human capital on the survival of new ventures in different economic contexts. We conduct an empirical study by using a logit model to analyze new ventures' probabilities of survival. The results show that both human and physical capital influence the survival of ventures in the short and long term, with human capital playing a particularly important role. The implications of the study hinge on two key findings. First, the government's potential to promote more efficient forms of entrepreneurship is a prominent factor. Second, the motivations -necessity or opportunity-of the entrepreneurs embarking on business ventures, and the importance of certain types of capital also determine the venture's prospects for survival. Influencia del capital físico y humano en la supervivencia de nuevas empresas RESuMEN el propósito de este estudio es analizar la influencia del capital físico y humano en la supervivencia de nuevas empresas en diferentes contextos económicos. para ello, se lleva a cabo un estudio utilizando un modelo logit que analiza las probabilidades de supervivencia de las empresas de nueva creación. Los resultados muestran que tanto el capital humano como el físico influyen en la supervivencia de las empresas en el corto y largo plazo, siendo especialmente importante el papel que desempeña el capital humano. Las implicaciones del estudio giran en torno a dos hallazgos sustanciales. el primero es que destaca el potencial de los gobiernos en la promoción de formas más eficientes de emprendimiento. el segundo es que el tipo de motivación -necesidad u oportunidad-del emprendedor y la importancia de ciertos tipos de capital también determinan las probabilidades de supervivencia de las empresas. KEYWORDSPAlABRAS ClAvE capital físico, capital humano, empresas de nueva creación, supervivencia de las empresas. Influência do capital físico e humano na sobrevivência de novas empresasRESuMO O propósito deste estudo é analisar a influência do capital físico e humano na sobrevivência de novas empresas em diferentes contextos econômicos. para isso, se realiza um estudo utilizando um modelo logit que analisa as probabilidades de sobrevivência das empresas de nova criação. Os resultados mostram que tanto o capital humano quanto o físico influem na sobrevivência das empresas em curto e longo prazo, sendo especialmente importante o papel que desempenha o capital humano. as implicações do estudo giram em torno a dois resultados substanciais. O primeiro destaca o potencial dos governos na promoção de formas mais eficientes de empreendimento. O segundo é que o tipo de motivação -necessidade ou oportunidade-do empreendedor e a importância de certos tipos de capital também determinam as probabilidades de sobrevivência das empresas.PAlAvRAS CHAvE capital físico, capital humano, empresas de nova criação, sobrevivên-cia das empresas.
Este artículo analiza las diferencias en el nivel de supervivencia entre el emprendimiento social y el emprendimiento de negocios, así como el efecto de la formación, experiencia y motivación para emprender sobre la supervivencia. Dada la naturaleza de las variables dependientes, se optó por utilizar la prueba de Pearson, la prueba de Mann-Whitney para dos muestras independientes y el modelo logit sobre una muestra de 2.175 empresas. Los resultados no muestran diferencias significativas en la probabilidad de sobrevivir entre los dos tipos de emprendimiento, pero sí parecen mostrar la existencia de diferencias significativas en la influencia de las variables independientes analizadas sobre la supervivencia.
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