Do Learning Benefits Accrue Equally Over Successive Fundraising Attempts? Strategic Change and the Moderating Role of Experience

Sewaid, Ahmed; García‐Cestona, Miguel A.; Silaghi, Florina

doi:10.1111/1467-8551.12551

Cited by 2 publications

(1 citation statement)

References 91 publications

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“…This is because the decision-making of habitual entrepreneurs is remarkably different from that of novice entrepreneurs (Dew et al , 2009). Entrepreneurship literature has also established that habitual entrepreneurs are better in terms of opportunity recognition (Lattacher and Wdowiak, 2020) and firm performance over time (Sewaid et al , 2021). In terms of access to resources, there is a disparity between habitual and novice entrepreneurs.…”

Section: Introductionmentioning

confidence: 99%

A comparative study of novice and habitual entrepreneur’s choice for founding team member

Das

2022

JEEE

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Purpose The purpose of this paper is to investigate and compare what criteria novice and habitual entrepreneurs use while adding members to the founding team. Design/methodology/approach This paper uses conjoint analysis (CA) to provide the order of preference for the “choice attributes.” The logic of CA is that even if two or more attributes influence the choice, it is unlikely that those attributes will have equal importance for founders with different entrepreneurial experiences. Findings This paper found a significant difference in the ranking of the attributes by novice and habitual entrepreneurs. In novice entrepreneurs, the effect of direct ties in the form of kinship ties has the highest preference, followed by prior social contact and prior work relations. However, personal friendships and resource dependency received lesser importance than interpersonal attraction because of the similarity in vision, beliefs and values. Habitual entrepreneurs, however, valued resource dependency and prior work relations more than kinship ties. Also, unlike novice entrepreneurs, habitual entrepreneurs sought cofounders from their indirect ties. Practical implications There has been an explosion of interest and funding for programs that help entrepreneurs establish a cofounding team. The authors inform these programs related to the decision concerning assisting novice and habitual entrepreneurs. Originality/value While prior studies examined a single attribute at a time, the strength of this study lies in simultaneously tapping all attributes, along with multiple indicators for each attribute. Additionally, this study distinguishes the selection criteria of cofounders based on the entrepreneurial expertise of the lead founder.

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Section: Introductionmentioning

confidence: 99%

A comparative study of novice and habitual entrepreneur’s choice for founding team member

Das

2022

JEEE

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Learning from failure: do narcissists learn?

Sewaid,

Silaghi,

García-Cestona

2024

Small Bus Econ

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We investigate the narcissists’ response to failure and whether narcissists effectively learn from this negative experience. To address this, we leverage data from a leading crowdfunding platform, and analyze 116,981 failed crowdfunding attempts. Our analysis shows a positive relationship between narcissism and the probability of relaunching which is negatively moderated by the degree of failure. Indeed, due to their fragility, narcissistic entrepreneurs are more likely to engage in ego-defensive behavior, and thus, they are less likely to relaunch following high degrees of failure. Moreover, narcissistic entrepreneurs exhibit poorer performance in their subsequent endeavors. This underperformance is driven by external attribution of failure and lower levels of pro-activity. In fact, following failure, narcissistic entrepreneurs are less likely to change internal factors that might contribute to their previous failure and they are more likely to respond to failure by reattempting in a different context. Managerial and policy implications are discussed.

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Do Learning Benefits Accrue Equally Over Successive Fundraising Attempts? Strategic Change and the Moderating Role of Experience

Cited by 2 publications

References 91 publications

A comparative study of novice and habitual entrepreneur’s choice for founding team member

A comparative study of novice and habitual entrepreneur’s choice for founding team member

Learning from failure: do narcissists learn?

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