Colocation of Entrepreneurs and New Firm Survival: Role of New Firm Founder’s Experiential Relatedness to Local Entrepreneurs

Abstract

Geographical clustering (colocation) influences new firm survival; however, not all new firms within a cluster are impacted equally. In this paper, we elaborate on how the colocation of local entrepreneurs may have different influences on new firm founder's learning depending on his/her fit, in terms of his/her experiential relatedness, to that of local entrepreneurs. We then associate such founder’s learning with the higher survival of his/her new firm. We test our hypotheses using a matched founder-firm dataset that covers the population of the knowledge-intensive business service sector in Sweden during 2001–2012. We find support for our propositions concerning the relatedness of new firm founders’ experiential background to that of local entrepreneurs. Specifically we find that high level of relatedness to local entrepreneurs enhances the survival rate of a new firm started by a novice founder, whereas intermediate level of relatedness suits better for a new firm started by an experienced founder.

Keywords

colocation entrepreneurial learning new firm survival experiential relatedness entrepreneurial performance

Get full access to this article

View all access options for this article.

References

Acs

Armington

(2006). New firm survival and human capital. In Karlsson

B. J. C.

(Ed.), Entrepreneurship and dynamics in the knowledge economy (pp. 125-148). UK: Routledge.

Acs

Z. J.

Armington

Zhang

(2007). The determinants of new‐firm survival across regional economies: the role of human capital stock and knowledge spillover. Papers in Regional Science, 86(3), 367-391. https://doi.org/10.1111/j.1435-5957.2007.00129.x.

Agarwal

Echambadi

Franco

A. M.

Sarkar

M. B.

(2004). Knowledge transfer through inheritance: spin-out generation, development, and survival. Academy of Management Journal, 47(4), 501-522. https://doi.org/10.2307/20159599.

Norton

E. C.

(2003). Interaction terms in logit and probit models. Economics Letters, 80(1), 123-129. https://doi.org/10.1016/S0165-1765(03)00032-6.

Aldrich

H. E.

Yang

(2014). How do entrepreneurs know what to do? Learning and organizing in new ventures. Journal of Evolutionary Economics, 24(1), 59-82. https://doi.org/10.1007/s00191-013-0320-x.

Andersson

Baltzopoulos

Lööf

(2012). R&D strategies and entrepreneurial spawning. Research Policy, 41(1), 54-68. https://doi.org/10.1016/j.respol.2011.08.005.

Andersson

Henrekson

(2015). Local competitiveness fostered through local institutions for entrepreneurship. In: The Oxford handbook of local competitiveness (pp. 145-190). Oxford: Oxford University Press.

Andersson

Larsson

J. P.

(2016). Local entrepreneurship clusters in cities. Journal of Economic Geography, 16, 39-66. https://doi.org/10.1093/jeg/lbu049.

Anselin

Varga

Acs

(1997). Local geographic spillovers between university research and high technology innovations. Journal of Urban Economics, 42(3), 422-448. https://doi.org/10.1006/juec.1997.2032.

10.

Argote

Miron-Spektor

(2011). Organizational learning: from experience to knowledge. Organization Science, 22(5), 1123-1137. https://doi.org/10.1287/orsc.1100.0621.

11.

Arıkan

A. T.

Schilling

M. A.

(2011). Structure and governance in industrial districts: implications for competitive advantage. Journal of Management Studies, 48(4), 772-803. https://doi.org/10.1111/j.1467-6486.2010.00951.x.

12.

Aslesen

H. W.

Jakobsen

S. E.

(2007). The role of proximity and knowledge interaction between head offices and KIBS. Tijdschrift Voor Economische En Sociale Geografie, 98(2), 188-201. https://doi.org/10.1111/j.1467-9663.2007.00391.x.

13.

Audretsch

D. B.

Keilbach

(2007). The theory of knowledge spillover entrepreneurship. Journal of Management Studies, 44(7), 1242-1254. https://doi.org/10.1111/j.1467-6486.2007.00722.x.

14.

Audretsch

D. B.

Lehmann

E. E.

(2005). Does the knowledge spillover theory of entrepreneurship hold for regions? Research Policy, 34(8), 1191-1202. https://doi.org/10.1016/j.respol.2005.03.012.

15.

Autio

Nambisan

Thomas

L. D.

Wright

(2018). Digital affordances, spatial affordances, and the genesis of entrepreneurial ecosystems. Strategic Entrepreneurship Journal, 12(1), 72-95. https://doi.org/10.1002/sej.1266.

16.

Bandura

(1986). The explanatory and predictive scope of self-efficacy theory. Journal of Social and Clinical Psychology, 4(3), 359-373. https://doi.org/10.1521/jscp.1986.4.3.359.

17.

Baù

Chirico

Pittino

Backman

Klaesson

(2019). Roots to grow: Family firms and local embeddedness in rural and urban contexts. Entrepreneurship Theory and Practice, 43(2), 360-385. https://doi.org/10.1177/1042258718796089.

18.

Baum

J. A.

Ingram

(1998). Survival-enhancing learning in the Manhattan hotel industry, 1898–1980. Management Science, 44(7), 996-1016. https://doi.org/10.1287/mnsc.44.7.996.

19.

Boschma

(2005). Proximity and innovation: a critical assessment. Regional Studies, 39(1), 61-74. https://doi.org/10.1080/0034340052000320887.

20.

Brixy

Grotz

(2007). Regional patterns and determinants of birth and survival of new firms in Western Germany. Entrepreneurship and Regional Development, 19(4), 293-312. https://doi.org/10.1080/08985620701275510.

21.

Brown

Kirchhoff

(1997). Resource acquisition self-efficacy: Measuring entrepreneur’s growth ambitions. In Reynolds , et al., (Ed.) Frontiers in Entrepreneurship Research (pp. 59-60). MA, Babson College: Wellesley.

22.

Brüderl

Preisendörfer

Ziegler

(1992). Survival chances of newly founded business organizations. American sociological review, 57(2), 227-242. https://doi.org/10.2307/2096207.

23.

Buis

M. L.

(2010). Stata tip 87: interpretation of interactions in non-linear models. The Stata Journal, 10(2), 305-308. https://doi.org/10.1177/1536867X1001000211.

24.

Busch

Barkema

(2020). Planned luck: how incubators can facilitate serendipity for nascent entrepreneurs through fostering network embeddedness. Entrepreneurship Theory and Practice. https://doi.org/10.1177/1042258720915798.

25.

Cohen

W. M.

Levinthal

D. A.

(1990). Absorptive capacity: a new perspective on learning and innovation. Administrative Science Quarterly, 35(1), 128-152. https://doi.org/10.2307/2393553.

26.

Cope

(2005). Toward a dynamic learning perspective of entrepreneurship. Entrepreneurship Theory and Practice, 29(4), 373-397. https://doi.org/10.1111/j.1540-6520.2005.00090.x.

27.

Davidsson

(2020). Look out! See change? Sea change ahead. Academy of Management Discoveries, 6(3), 321-324. https://doi.org/10.5465/amd.2019.0141.

28.

De Clercq

Sapienza

H. J.

(2005). When do venture capital firms learn from their portfolio companies? Entrepreneurship Theory and Practice, 29(4), 517-535. https://doi.org/10.1111/j.1540-6520.2005.00096.x.

29.

De Clercq

Voronov

(2009). The role of cultural and symbolic capital in entrepreneurs' ability to meet expectations about conformity and innovation. Journal of Small Business Management, 47(3), 398-420. https://doi.org/10.1111/j.1540-627X.2009.00276.x.

30.

de Jong

J. P.

Marsili

(2015). Founding a business inspired by close entrepreneurial ties: does it matter for survival? Entrepreneurship Theory and Practice, 39(5), 1005-1025. https://doi.org/10.1111/etap.12086.

31.

Delgado

Porter

M. E.

Stern

(2010). Clusters and entrepreneurship. Journal of Economic Geography, 10(4), 495-518. https://doi.org/10.1016/j.jue.2009.09.008.

32.

Delgado

Porter

M. E.

Stern

(2016). Defining clusters of related industries. Journal of Economic Geography, 16(1), 1-38. https://doi.org/10.3386/w20375.

33.

Denrell

(2003). Vicarious learning, undersampling of failure, and the myths of management. Organization Science, 14(3), 227-243. https://doi.org/10.1287/orsc.14.2.227.15164.

34.

Desrochers

Leppälä

(2011). Opening up the ‘Jacobs spillovers’ black box: local diversity, creativity and the processes underlying new combinations. Journal of Economic Geography, 11(5), 843-863. https://doi.org/10.1093/jeg/lbq028.

35.

Duranton

Puga

(2001). Nursery cities: Urban diversity, process innovation, and the life cycle of products. American Economic Review, 91(5), 1454-1477. https://doi.org/10.1257/aer.91.5.1454.

36.

Ebert

Brenner

Brixy

(2019). New firm survival: the interdependence between regional externalities and innovativeness. Small Business Economics, 53(1), 287-309. https://doi.org/10.1007/s11187-018-0026-4.

37.

Estes

(1975). Handbook of learning and cognitive processes (Vol. 1). Hillsdale, NJ: Lawrence Erlbaum.

38.

Feldman

(2003). The locational dynamics of the US biotech industry: knowledge externalities and the anchor hypothesis. Industry and Innovation, 10(3), 311-329. https://doi.org/10.1080/1366271032000141661.

39.

Feser

E. J.

(2002). Tracing the sources of local external economies. Urban Studies, 39(13), 2485-2506. https://doi.org/10.1080/0042098022000027077.

40.

Folta

T. B.

Cooper

A. C.

Baik

(2006). Geographic cluster size and firm performance. Journal of Business Venturing, 21(2), 217-242. https://doi.org/10.1080/0042098022000027077.

41.

Frenken

Van Oort

Verburg

(2007). Related variety, unrelated variety and regional economic growth. Regional Studies, 41(5), 685-697. https://doi.org/10.1080/00343400601120296.

42.

Fritsch

Brixy

Falck

(2006). The effect of industry, region, and time on new business survival – a multi-dimensional analysis. Review of Industrial Organization, 28(3), 285-306. https://doi.org/10.1007/s11151-006-0018-4.

43.

Gartner

W. B.

(1988). “Who is an entrepreneur?” Is the wrong question. Entrepreneurship Theory and Practice, 12(4), 47-67. https://doi.org/10.1177/104225878801200401.

44.

Geroski

P. A.

Mata

Portugal

(2010). Founding conditions and the survival of new firms. Strategic Management Journal, 31(5), 510-529. https://doi.org/10.1002/smj.823.

45.

Gilbert

McDougall

Audretsch

(2008). Clusters, knowledge spillovers and new venture performance: an empirical examination. Journal of Business Venturing, 23(4), 405-422. https://doi.org/10.1016/j.jbusvent.2007.04.003.

46.

Glaeser

Kallal

Scheinkman

Shleifer

(1992). Growth of cities. Journal of Political Economy, 100(6), 1126-1152. https://doi.org/10.1086/261856.

47.

Golub

Jackson

M. O.

(2012). How homophily affects the speed of learning and best-response dynamics. The Quarterly Journal of Economics, 127(3), 1287-1338. https://doi.org/10.1093/qje/qjs021.

48.

Guiso

Schivardi

(2011). What determines entrepreneurial clusters? Journal of the European Economic Association, 9(1), 61-86. https://doi.org/10.1111/j.1542-4774.2010.01006.x.

49.

Harrison

R. T.

Leitch

C. M.

(2005). Entrepreneurial learning: Researching the interface between learning and the entrepreneurial context. Entrepreneurship Theory and Practice, 29(4), 351-371. https://doi.org/10.1111/j.1540-6520.2005.00089.x.

50.

Hitt

M. A.

Boyd

B. K.

(2004). The state of strategic management research and a vision of the future. Research Methodology in Strategy and Management, 1, 1-31. https://doi.org/10.1016/S1479-8387(04)01101-4.

51.

Holcomb

T. R.

Ireland

R. D.

Holmes

R. M.

Jr. Hitt

M. A.

(2009). Architecture of entrepreneurial learning: Exploring the link among heuristics, knowledge, and action. Entrepreneurship Theory and Practice, 33(1), 167-192. https://doi.org/10.1111/j.1540-6520.2008.00285.x.

52.

Howells

J. R.

(2002). Tacit knowledge, innovation and economic geography. Urban Studies, 39(5-6), 871-884. https://doi.org/10.1080/00420980220128354.

53.

Huber

G. P.

(1991). Organizational learning: the contributing processes and the literatures. Organization Science, 2(1), 88-115. https://doi.org/10.1287/orsc.2.1.88.

54.

Huggins

Prokop

Thompson

(2017). Entrepreneurship and the determinants of firm survival within regions: human capital, growth motivation and locational conditions. Entrepreneurship and Regional Development, 29(3-4), 357-389. https://doi.org/10.1080/08985626.2016.1271830.

55.

International Labor Office (2012). International standard classification of occupations: Structure, group definitions and correspondence tables. Geneva: International Labor Office.

56.

Johansson

Lööf

(2008). Innovation activities explained by firm attributes and location. Economics of Innovation and New Technology, 17(6), 533-552. https://doi.org/10.1080/10438590701407349.

57.

Karlsson

Olsson

(2006). The identification of functional regions: theory, methods, and applications. The Annals of Regional Science, 40(1), 1-18. https://doi.org/10.1007/s00168-005-0019-5.

58.

Kim

J. Y.

Miner

A. S.

(2007). Vicarious learning from the failures and near-failures of others: Evidence from the US commercial banking industry. Academy of Management Journal, 50(3), 687-714. https://doi.org/10.5465/amj.2007.25529755.

59.

Klofsten

Lundmark

Wennberg

Bank

(2020). Incubator specialization and size: Divergent paths towards operational scale. Technological Forecasting and Social Change, 151(10), 119821. https://doi.org/10.1016/j.techfore.2019.119821.

60.

Lane

P. J.

Lubatkin

(1998). Relative absorptive capacity and interorganizational learning. Strategic Management Journal, 19(5), 461-477. https://doi.org/10.1002/(SICI)1097-0266(199805)19:5<461::AID-SMJ953>3.0.CO;2-L.

61.

Lévesque

Minniti

Shepherd

(2009). Entrepreneurs’ decisions on timing of entry: Learning from participation and from the experiences of others. Entrepreneurship Theory and Practice, 33(2), 547-570. https://doi.org/10.1111/j.1540-6520.2009.00303.x.

62.

Lindholm-Dahlstrand

Å. L.

Politis

(2013). Women business ventures in Swedish university incubators. International Journal of Gender and Entrepreneurship, 5(1), 78-96. https://doi.org/10.1108/17566261311305229.

63.

Litzel

(2017). Does embeddedness in clusters enhance firm survival and growth? An establishment-level analysis using CORIS data. Regional Studies, 51(4), 563-574. https://doi.org/10.1080/00343404.2015.1115009.

64.

Makri

Hitt

M. A.

Lane

P. J.

(2010). Complementary technologies, knowledge relatedness, and invention outcomes in high technology mergers and acquisitions. Strategic Management Journal, 31(6), 602-628. https://doi.org/10.1002/smj.829.

65.

Malmberg

Maskell

(2002). The elusive concept of localization economies: towards a knowledge-based theory of spatial clustering. Environment and Planning A: Economy and Space.

66.

Malmberg

Maskell

(2006). Localized learning revisited. Growth and Change, 37(1), 1-18. https://doi.org/10.1111/j.1468-2257.2006.00302.x.

67.

Maskell

(2001). Towards a knowledge‐based theory of the geographical cluster. Industrial and Corporate Change, 10(4), 921-943. https://doi.org/10.1093/icc/10.4.921.

68.

Mata

Portugal

(1994). Life duration of new firms. The Journal of Industrial Economics, 42(3), 227-245. https://doi.org/10.2307/2950567.

69.

McCann

B. T.

Folta

T. B.

(2008). Location matters: where we have been and where we might go in agglomeration research. Journal of Management, 34(3), 532-565. https://doi.org/10.1177/0149206308316057.

70.

McCann

B. T.

Folta

T. B.

(2011). Performance differentials within geographic clusters. Journal of Business Venturing, 26(1), 104-123. https://doi.org/10.1016/j.jbusvent.2009.04.004.

71.

McMullen

J. S.

Ingram

K. M.

Adams (2020). What makes an entrepreneurship study entrepreneurial? toward A unified theory of entrepreneurial agency. Entrepreneurship Theory and Practice, 45(5), 1197-1238. https://doi.org/10.1177/1042258720922460.

72.

Minniti

(2005). Entrepreneurship and network externalities. Journal of Economic Behavior and Organization, 57(1), 1-27. https://doi.org/10.1016/j.jebo.2004.10.002.

73.

Minniti

Bygrave

(2001). A dynamic model of entrepreneurial learning. Entrepreneurship Theory and Practice, 25(3), 5-16. https://doi.org/10.1177/104225870102500301.

74.

Muller

Doloreux

(2009). What we should know about knowledge-intensive business services. Technology in society, 31(1), 64-72. https://doi.org/10.1016/j.techsoc.2008.10.001.

75.

Nadler

Thompson

Boven

L. V.

(2003). Learning negotiation skills: four models of knowledge creation and transfer. Management Science, 49(4), 529-540. https://doi.org/10.1287/mnsc.49.4.529.14431.

76.

Nambisan

(2017). Digital entrepreneurship: toward a digital technology perspective of entrepreneurship. Entrepreneurship Theory and Practice, 41(6), 1029-1055. https://doi.org/10.1111/etap.12254.

77.

Nooteboom

(2000). Learning and innovation in organizations and economies. Oxford: Oxford University Press.

78.

Nooteboom

(2006). Elements of a cognitive theory of the firm. In Krecké , et al., (Ed.) Cognition and economics, Advances in Austrian economics (9, pp. 145-176). Amsterdam: Elsevier.

79.

Nooteboom

Van Haverbeke

Duysters

Gilsing

Van den Oord

(2007). Optimal cognitive distance and absorptive capacity. Research Policy, 36(7), 1016-1034. https://doi.org/10.1016/j.respol.2007.04.003.

80.

Novak

J. D.

Gowin

D. B.

(1984). Learning how to learn. Cambridge: Cambridge University Press.

81.

Pe'er

Keil

(2013). Are all startups affected similarly by clusters? Agglomeration, competition, firm heterogeneity, and survival. Journal of Business Venturing, 28(3), 354-372. https://doi.org/10.1016/j.jbusvent.2012.03.004.

82.

Plummer

L. A.

Acs

Z. J.

(2014). Localized competition in the knowledge spillover theory of entrepreneurship. Journal of Business Venturing, 29(1), 121-136. https://doi.org/10.1016/j.jbusvent.2012.10.003.

83.

Plummer

L. A.

Parker

S. C.

Reyes

S. C.

(2020). Regional path breaking: the role of industry switching, industry diversity, and new knowledge in new venture exit. Entrepreneurship Theory and Practice, 1042258720952288. https://doi.org/10.1177/1042258720952288.

84.

Politis

(2005). The process of entrepreneurial learning: a conceptual framework. Entrepreneurship Theory and Practice, 29(4), 399-424. https://doi.org/10.1111/j.1540-6520.2005.00091.x.

85.

Politis

(2008). Does prior start‐up experience matter for entrepreneurs’ learning? Journal of Small Business and Enterprise Development, 15(3), 472-489. https://doi.org/10.1108/14626000810892292.

86.

Porter

M. E.

(1998). On competition. Boston: HBS Press.

87.

Posen

H. E.

Chen

J. S.

(2013). An advantage of newness: Vicarious learning despite limited absorptive capacity. Organization Science, 24(6), 1701-1716. https://doi.org/10.2139/ssrn.1827902.

88.

Qian

(2017). Knowledge base differentiation in urban systems of innovation and entrepreneurship. Urban Studies, 54(7), 1655-1672. https://doi.org/10.1177/0042098016629314.

89.

Renski

(2015). Externalities or experience? Localization economies and start‐up business survival. Growth and Change, 46(3), 458-480. https://doi.org/10.1111/grow.12099.

90.

Rosenthal

S. S.

Strange

W. C.

(2004). Evidence on the nature and sources of agglomeration economies. Handbook of Regional and Urban Economics, 4, 2119-2171. https://doi.org/10.1016/S1574-0080(04)80006-3.

91.

Santarelli

Vivarelli

(2007). Entrepreneurship and the process of firms’ entry, survival and growth. Industrial and Corporate Change, 16(3), 455-488. https://doi.org/10.1093/icc/dtm010.

92.

Sapienza

H. J.

Parhankangas

Autio

(2004). Knowledge relatedness and post-spin-off growth. Journal of Business Venturing, 19(6), 809-829. https://doi.org/10.1016/j.jbusvent.2003.06.002.

93.

Scherer

R. F.

Adams

J. S.

Carley

S. S.

Wiebe

F. A.

(1989). Role model performance effects on development of entrepreneurial career preference. Entrepreneurship Theory and Practice, 13(3), 53-72. https://doi.org/10.1177/104225878901300306.

94.

Schildt

H. A.

Maula

M. V.

Keil

(2005). Explorative and exploitative learning from external corporate ventures. Entrepreneurship Theory and Practice, 29(4), 493-515. https://doi.org/10.1111/j.1540-6520.2005.00095.x.

95.

Schubert

Tavassoli

(2020). Product innovation and educational diversity in top and middle management teams. Academy of Management Journal, 63(1), 272-294. https://doi.org/10.5465/AMJ.2017.0741.

96.

Shenkar

(1999). Knowledge search in international cooperative ventures. Organization Science, 10(2), 134-143. https://doi.org/10.1287/orsc.10.2.134.

97.

Shepherd

D. A.

Gruber

(2020). The lean startup framework: closing the academic–practitioner divide. Entrepreneurship Theory and Practice, 45(5), 967-998. https://doi.org/10.1177/1042258719899415.

98.

Shu

Simmons

S. A.

(2018). Firm survival in traded industries: does localization moderate the effects of founding team experience? Small Business Economics, 50(3), 643-655. https://doi.org/10.1007/s11187-017-9912-4.

99.

Sorenson

Audia

P. G.

(2000). The social structure of entrepreneurial activity: geographic concentration of footwear production in the United States, 1940–1989. American Journal of Sociology, 106(2), 424-462. https://doi.org/10.1086/316962.

100.

Soto‐Simeone

Sirén

Antretter

(2020). New venture survival: a review and extension. International Journal of Management Reviews, 22(4), 1-30. https://doi.org/10.1111/ijmr.12229.

101.

Spigel

(2017). The relational organization of entrepreneurial ecosystems. Entrepreneurship Theory and Practice, 41(1), 49-72. https://doi.org/10.1111/etap.12167.

102.

Spigel

Harrison

(2018). Toward a process theory of entrepreneurial ecosystems. Strategic Entrepreneurship Journal, 12(1), 151-168. https://doi.org/10.1002/sej.1268.

103.

Staber

(2001). Spatial proximity and firm survival in a declining industrial district: the case of knitwear firms in Baden-Wurttemberg. Regional Studies, 35(4), 329-341. https://doi.org/10.1080/00343400125106.

104.

Stinchcombe

(1965). Social structure and organizations. In March

(Ed.), Handbook of Organizations. Chicago: Rand McNally.

105.

Strotmann

(2007). Entrepreneurial survival. Small Business Economics, 28(1), 87-104. https://doi.org/10.1007/s11187-005-8859-z.

106.

Tan

(2017). Far from the tree? Do private entrepreneurs agglomerate around public sector incumbents during economic transition? Organization Science, 28(1), 113-132. https://doi.org/10.1287/orsc.2017.1111.

107.

Tavassoli

Jienwatcharamongkhol

(2016). Survival of entrepreneurial firms: the role of agglomeration externalities. Entrepreneurship and Regional Development, 28(9-10), 746-767. https://doi.org/10.1080/08985626.2016.1247916.

108.

Tavassoli

Obschonka

Audretsch

D. B.

(2021). Entrepreneurship in Cities. Research Policy, 50(7), 1-21. https://doi.org/10.1016/j.respol.2021.104255.

109.

Timmermans

Boschma

(2014). The effect of intra-and inter-regional labour mobility on plant performance in Denmark: the significance of related labour inflows. Journal of Economic Geography, 4(2), 289-311. https://doi.org/10.1093/jeg/lbs059.

110.

Ulvenblad

Blomkvist

Winborg

(2011). Academic entrepreneurship–the structure of incubator management and best practice. International Journal of Entrepreneurship and Small Business, 12(4), 445-458. https://doi.org/10.1504/IJESB.2011.039685.

111.

Venkataraman

(2004). Regional transformation through technological entrepreneurship. Journal of Business Venturing, 19(1), 153-167. https://doi.org/10.1016/j.jbusvent.2003.04.001.

112.

Von Nordenflycht

(2010). What is a professional service firm? Toward a theory and taxonomy of knowledge-intensive firms. Academy of Management Review, 35(1), 155-174. https://doi.org/10.5465/AMR.2010.45577926.

113.

Waters-Lynch

Duff

(2019). The affective commons of Coworking. Human Relations, 74(3), 383-404. https://doi.org/10.1177/0018726719894633.

114.

Welter

(2011). Contextualizing entrepreneurship—conceptual challenges and ways forward. Entrepreneurship Theory and Practice, 35(1), 165-184. https://doi.org/10.1111/j.1540-6520.2010.00427.x.

115.

Wennberg

Lindqvist

(2010). The effect of clusters on the survival and performance of new firms. Small Business Economics, 34(3), 221-241. https://doi.org/10.1007/s11187-008-9123-0.

116.

Westhead

Ucbasaran

Wright

(2005). Experience and cognition: do novice, serial and portfolio entrepreneurs differ? International Small Business Journal, 23(1), 72-98. https://doi.org/10.1177/0266242605049104.

117.

Wixe

Andersson

(2017). Which types of relatedness matter in regional growth? Industry, occupation and education. Regional Studies, 51(4), 523-536. https://doi.org/10.1080/00343404.2015.1112369.

118.

Woolley

J. L.

(2019). Gender, education, and occupation: how founder experiences influence firm outcomes. Academy of Management Discoveries, 5(3), 266-290. https://doi.org/10.5465/amd.2017.0069.

119.

Yang

Aldrich

H. E.

(2017). The liability of newness” revisited: theoretical restatement and empirical testing in emergent organizations. Social Science Research, 63, 36-53. https://doi.org/10.1016/j.ssresearch.2016.09.006.

120.

Zheng

(2012). Unlocking founding team prior shared experience: a transactive memory system perspective. Journal of Business Venturing, 27(5), 577-591. https://doi.org/10.1016/j.jbusvent.2011.11.001.

121.

Zheng

Ahsan

DeNoble

A. F.

(2020). Entrepreneurial networking during early stages of opportunity exploitation: agency of novice and experienced new venture leaders. Entrepreneurship Theory and Practice, 44(4), 671-699. https://doi.org/10.1177/1042258719844715.