When to Start a New Firm? Modelling the Timing of Novice and Serial Entrepreneurs
Published By: UNU-WIDER on eSS | Published Date: June, 14 , 2009The success of new start-up firms often depends on timing. It is valuable for the
potential entrepreneur to wait for the right moment before starting a new firm. In this
paper we provide a theoretical model to determine the optimal time for starting a new
firm. We integrate insights from the real option theory with the theory on
entrepreneurial market entry. An important and novel feature of our model is that it
allows the start-up timing decisions of novice and serial entrepreneurs to be
distinguished. [Research Paper No. 2009/39]
Author(s): Wim Naudé, Thomas Gries | Posted on: Jan 14, 2011 | Views(837) | Download (88)