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Type: Journal article
Title: Much Ado About Nothing? The Surprising Persistence of Nascent Entrepreneurs Through Macroeconomic Crisis
Author: Davidsson, P.
Gordon, S.
Citation: Entrepreneurship Theory and Practice, 2016; 40(4):915-941
Publisher: John Wiley and Sons
Issue Date: 2016
ISSN: 1042-2587
Statement of
Per Davidsson, Scott R. Gordon
Abstract: 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.
Description: Article first published online: 26 FEB 2015. Journal Edited By: D. Ray Bagby, Baylor University
Rights: © 2015 Baylor University
RMID: 0030024241
DOI: 10.1111/etap.12152
Grant ID:
Appears in Collections:Entrepreneurship, Commercialisation, and Innovation Centre publications

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