Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/146789
Authors: 
Cumming, Douglas
Walz, Uwe
Werth, Jochen Christian
Year of Publication: 
2016
Series/Report no.: 
SAFE Working Paper Series 122 [rev.]
Abstract: 
We investigate the career dynamics of high-tech entrepreneurs by analyzing the exit choice of entrepreneurs: to act as a business angel, to found another firm, or to become dependently employed. Our detailed data from CrunchBase indicate that founders are more likely to stick with entrepreneurship as a serial entrepreneur or as an angel investor in cases where the founder had prior experience either in founding other startups or working for a startup, or had a 'jack-of-all-trades' education.
Subjects: 
venture governance
entrepreneurship
entrepreneurial spawning
angel finance
venture capital
exit
JEL: 
G24
G34
L26
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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