Abstract
While
studies on successful entrepreneurship are abundant, this stream of research
focused predominantly on start-up entrepreneurship. Acquiring an existing firm,
or entrepreneurship through acquisition (ETA), is an alternative form of
entrepreneurial entry. Using a unique sample of nascent ETA entrepreneurs, in
particular middle-aged senior experienced individuals, collected through online surveys, we test the
importance of three forms of capital on the odds of successfully acquiring a
business: financial, human, and social capital. Human capital or the experience
and expertise of the ETA entrepreneur significantly increases the chances of
success. However, contrary to our knowledge of start-up entrepreneurs,
financial capital is another vital predictor, while social capital seems to
have no significant impact. Our findings suggest that start-up and ETA
entrepreneurship require different resources to be successfully completed due
to their inherent differences.
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IJBMS by IPRPD is licensed under a Creative Commons Attribution 4.0 International License.