The relationship between prior and subsequent new venture creation in the United States: A county level analysis |
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| Authors: | Erick P.C. Chang James J. Chrisman Franz W. Kellermanns |
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| Affiliation: | a Department of Management and Marketing, Arkansas State University, P.O. Box 59, State University, AR 72467, United Statesb Department of Management and Information Systems, Mississippi State University, Mississippi State, MS 39762-9581, United Statesc Centre for Entrepreneurship and Family Enterprise, University of Alberta, Edmonton, Alberta, Canada T6G 2R6d Deparment of Management, University of Tennessee, Knoxville, TN 37996-0545, United Statese INTES Center for Family Enterprises, WHU (Otto Beisheim School of Management), Germany |
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| Abstract: | Minniti [Minniti, M., 2004. Entrepreneurial alertness and asymmetric information in a spin-glass model. Journal of Business Venturing 19 (5), 637-658; Minniti, M., 2005. Entrepreneurship and network externalities. Journal of Economic Behavior & Organization 57 (1), 1-27] argues that new venture creation decisions are interdependent and that the non-pecuniary network externalities and path dependencies of such decisions influence the geographic concentration of venturing activities. We apply her framework at the county level to study the association between prior and subsequent new venture creation in the U.S. Our findings indicate that there is a non-linear relationship between prior new venture creation and subsequent new venture creation, with venturing activities increasing at an increasing rate based on the amount of prior new venture creation. |
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| Keywords: | New venture creation Externalities Economic development U.S. counties |
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