How Founders’ Prior Experiences Shape Their Perceptions on Venture Growth and Competitiveness
Bibliographic Data
| ID | 19450102 |
|---|---|
| Authors | Changhyeon Song (0000-0001-7452-1421, Korea Institute of Science & Technology Evaluation and Planning), Harry Jeong (0000-0002-5010-7282, Harry Jeong, Central Research Institute, Dr. Chung’s Food Co., Ltd., Cheongju, Republic of Korea.), Kwangsoo Shin (0000-0003-2437-8166, Kwangsoo Shin (corresponding author), Graduate School of Public Health and Healthcare Management/The Catholic Institute for Public Health and Healthcare Management, Songeui Medical Campus, The Catholic University of Korea, Seoul, Republic of Korea., corresponding author) |
| Year | 2025 |
| Volume | 30 |
| Issue | 1 |
| Pages | 99-117 |
| Publication date | 2025-03-01 |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Science Technology and Society (JOURNAL) |
| Journal identifiers | ISSN: 0971-7218 • E-ISSN: 0973-0796 |
| Publisher | SAGE Publications (PUBLISHER • US) |
| DOI | 10.1177/09717218241304449 |
| OpenAlex | W4405652249 |
| Language | EN |
| References cited | 49 |
Founder’s prior experience has been considered crucial for growth and success of venture firms. Despite the extant research on entrepreneurial experience, little is known about how entrepreneurs’ prior experiences are imprinted on them and the differences in knowledge these experiences shape. Based on the theories of entrepreneurial learning and effectuation-causation, this article investigates the influence of entrepreneurs’ prior firm founding and industry work experience. We tested hypotheses regarding the impact of these two types of entrepreneurial experience on the perception of long-term growth expectations and competitiveness of venture firms they found. The analysis was conducted on 1,610 newly founded venture firms in Korea surveyed over a four-year period from 2014 to 2017, and the ordered logit model was employed. The results show that prior firm founding experience results in positive long-term growth expectation. On the other hand, prior industry work experience has a positive effect only on organisation management competitiveness and has no statistically significant effect on technology competitiveness. This study extends the discussions of existing literature by focusing on the impact of founders’ prior experience on perceptions of their venture firms. Different role of entrepreneurial experiences can be explained by the different nature of the knowledge that is formed
Business · Causation · Econometrics · Economics · Entrepreneurship · Extant taxon · Logit · New Ventures · Ordered logit · Perception · Political science · Venture capital · Work experience · Entrepreneurship Studies and Influences · Firm Innovation and Growth · Private Equity and Venture Capital · Psychology · Marketing
Causation and Effectuation
Prior Knowledge and the Discovery of Entrepreneurial Opportunities
The competitiveness of small and medium enterprises
The Process of Entrepreneurial Learning
Causation and effectuation processes
Entry by Spinoffs
Organizations Evolving
Survival Chances of Newly Founded Business Organizations
| Highly cited | No |
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