Much ado about nothing? The surprising persistence of nascent ventures through the global financial crisis

Davidsson, Per & Gordon, Scott R. (2012) Much ado about nothing? The surprising persistence of nascent ventures through the global financial crisis. In The Joint ACERE-DIANA International Entrepreneurship Conference, 31 January – 3 February 2012, University of Notre Dame, Fremantle, WA.

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Abstract

Using the Global Financial Crisis as a natural experiment, we investigate how a major macro-economic crisis affects nascent (i.e., pre-operational) ventures. We hypothesize adverse effects on behaviors, behavioral plans, and expectations for the future, and that these effects would be more pronounced in ventures that are more innovative and/or more relying on loan funding. Overall, we find very limited support for our hypotheses. Our conclusion is that the main reason for the surprising absence of detrimental effects is that a large majority of nascent ventures are mostly affected by a relatively narrow, immediate task environment rather than directly by the fluctuations of the macro-economy.

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ID Code: 48714
Item Type: Conference Paper
Keywords: Nascent Ventures, Global Financial Crisis
ISBN: 9780646572673
Subjects: Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > BUSINESS AND MANAGEMENT (150300) > Entrepreneurship (150304)
Divisions: Current > Research Centres > Australian Centre for Entrepreneurship
Current > QUT Faculties and Divisions > QUT Business School
Current > Schools > School of Management
Copyright Owner: Copyright 2012 [please consult the authors]
Deposited On: 16 Feb 2012 23:54
Last Modified: 09 Mar 2015 09:41

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