Much ado about nothing? The surprising persistence of nascent entrepreneurs through macroeconomic crisis

Davidsson, Per & Gordon, Scott R. (2016) Much ado about nothing? The surprising persistence of nascent entrepreneurs through macroeconomic crisis. Entrepreneurship Theory and Practice, 40(4), pp. 915-941.

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We hypothesize that a major macroeconomic crisis triggers four alternative responses among nascent entrepreneurs: disengagement, delay, compensation, and adaptation. We also suggest that commitment and ambition (or “high potential”) moderate these responses. Our most important finding is the relative absence of behavioral crisis responses. However, crises may make high-tech founders become more likely to disengage, whereas the opposite holds for founders far into the process. Our study sheds light on the mechanisms behind aggregate effects of crises on the number and type of start-ups in an economy, and can guide future research on the effect of crises on nascent entrepreneurship.

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1 citations in Scopus
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2 citations in Web of Science®

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ID Code: 82088
Item Type: Journal Article
Refereed: Yes
Keywords: Nascent Entrepreneurs, Macroeconomic Crisis, Entrepreneurship
DOI: 10.1111/etap.12152
ISSN: 1042-2587
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
Deposited On: 02 Mar 2015 02:43
Last Modified: 08 Jul 2016 03:17

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