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...n calculated. The Nagelkerke R 2 equals 0.306, whereas the McFadden equals 0.148. A common measure for determining the fit of the model in these kinds of applications is the Hosmer and Lemeshow test (=-=Hosmer and Lemeshow, 1989-=-), where the probability of an outcome is specified rather than the actual occurrence of an outcome. For all three categories the test did not point at rejection of the hypothesis that the model fits ...

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...ct but the marginal effect of an explanatory variable on the probability of ‘abandoned’ and ‘still organizing’ relative to the probability of ‘actually started’ (Cooper, Gimeno-Gascon, and Woo, 1994; =-=Long, 1997-=-). In Table 7 the nascent entrepreneurs that actually started serve as a benchmark group for the persons who gave up (first column) and for the persons who were still setting up their business (column...

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.... The role of government was to constrain the power of large corporations, which were needed for efficiency under massproduction, but posed a threat to democracy through their concentration of power (=-=Chandler, 1977-=- and 1990). Under the old, managed economy the policy debate centered on competition policies (antitrust), regulation and public ownership of business (Teece, 1993). In the new, entrepreneurial econom...

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...ents do not represent an absolute effect but the marginal effect of an explanatory variable on the probability of ‘abandoned’ and ‘still organizing’ relative to the probability of ‘actually started’ (=-=Cooper, Gimeno-Gascon, and Woo, 1994-=-; Long, 1997). In Table 7 the nascent entrepreneurs that actually started serve as a benchmark group for the persons who gave up (first column) and for the persons who were still setting up their busi...

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... intriguing questions. We give three examples. First, women need more time to actually start up a business. Is this a question of difficulties in obtaining access to resources or of differing values (=-=Brush, 1992-=-; Fischer, Reuber, and Dyke, 1993; Verheul and Thurik, 2001)? The strong correlations between being male and management and industry experience, respectively point to the first position, while the str...

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...ific debate as well as of great policy importance. A high level of entrepreneurial activity is assumed and shown to contribute to innovative activities, competition, economic growth and job creation (=-=Baumol, 1993-=-; Thurik, 1996; Audretsch and Thurik, 2000 and 2001; Carree, van Stel, Thurik and Wennekers, 2001). For European countries in particular the fragile economic growth, coupled with the persistently high...

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...tached to entrepreneurship as a source of job creation and economic growth (Thurik, 1996). The exploitation of economies of scale and scope is no longer at the heart of modern economies (Teece, 1993; =-=Wennekers and Thurik, 1999-=-). The reason is that globalization and the ICT-revolution imply a need for a knowledge intensive economy. Such an economy emerges only after significant structural change, requiring a substantial rea...

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...th the idea of becoming one. SAMPLE AND VARIABLES Research of success and failure in the pre-start-up phase is scarce mainly because of the lack of a representative sample (Reynolds and Miller, 1992; =-=Reynolds, 1997-=-). People walking around with an idea of starting a business are difficult to find. Of course, researchers may collect a sample of starting entrepreneurs and question them about their preparation phas...

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...s than a business in manufacturing or in retail. Therefore, services should be associated with nascent entrepreneurs that start a business. Ambition is sometimes studied as a dependent variable (e.g. =-=Cliff, 1998-=-) but not often as an independent variable in performance modeling. We hypothesize ambition to be positively related to performance as we expect ambitious entrepreneurs to be highly motivated. Finally...

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...eat policy importance. A high level of entrepreneurial activity is assumed and shown to contribute to innovative activities, competition, economic growth and job creation (Baumol, 1993; Thurik, 1996; =-=Audretsch and Thurik, 2000-=- and 2001; Carree, van Stel, Thurik and Wennekers, 2001). For European countries in particular the fragile economic growth, coupled with the persistently high levels of unemployment, has fostered entr...

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...uestions. We give three examples. First, women need more time to actually start up a business. Is this a question of difficulties in obtaining access to resources or of differing values (Brush, 1992; =-=Fischer, Reuber, and Dyke, 1993-=-; Verheul and Thurik, 2001)? The strong correlations between being male and management and industry experience, respectively point to the first position, while the strong correlations between between ...

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...t this review gives only a impressionistic overview of success factors, given the differences in samples, research designs, performance measures and methods of analysis used by the different studies (=-=Cooper, 1993-=-). 5Table 2 Literature review on relations with performance of the independent variables (SBE, JSBM, ET&P, JBV 1996 - (Fall) 2000) 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. + : N : - 14. 15. 16. gen...

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...e economy. Such an economy emerges only after significant structural change, requiring a substantial reallocation and reorganization of resources. This induces an intense demand for entrepreneurship (=-=Casson, 1995-=-, Audretsch and Thurik, 2000 and 2001). When it comes to how the mechanisms work, little is known, either on how entrepreneurship can best be promoted or on how entrepreneurship influences economic pe...

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...bed in this article will encourage the work yet to be done. 2SUCCESS IN THE PRE-START-UP PHASE Explaining firm performance is an important part of entrepreneurship research (Cooper and Gascon, 1992; =-=Lussier, 1995-=-; Honig, 1998; Boden and Nucci, 2000; van Gelderen, Frese and Thurik, 2001). Most research deals with the success of existing firms. However, the first success of a firm is that it becomes one. Entrep...

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...Thurik, 2001). Most research deals with the success of existing firms. However, the first success of a firm is that it becomes one. Entrepreneurs have frequently been compared with non-entrepreneurs (=-=Baron, 1999-=-; Kaufman, 1999), but not often with persons who wanted to start a business but did not succeed in doing so. Why does one person actually succeed in starting a business, while a second gives up, and a...

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... those seriously playing with the idea of becoming one. SAMPLE AND VARIABLES Research of success and failure in the pre-start-up phase is scarce mainly because of the lack of a representative sample (=-=Reynolds and Miller, 1992-=-; Reynolds, 1997). People walking around with an idea of starting a business are difficult to find. Of course, researchers may collect a sample of starting entrepreneurs and question them about their ...

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...icle will encourage the work yet to be done. 2SUCCESS IN THE PRE-START-UP PHASE Explaining firm performance is an important part of entrepreneurship research (Cooper and Gascon, 1992; Lussier, 1995; =-=Honig, 1998-=-; Boden and Nucci, 2000; van Gelderen, Frese and Thurik, 2001). Most research deals with the success of existing firms. However, the first success of a firm is that it becomes one. Entrepreneurs have ...

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... hopes are attached to entrepreneurship as a source of job creation and economic growth (Thurik, 1996). The exploitation of economies of scale and scope is no longer at the heart of modern economies (=-=Teece, 1993-=-; Wennekers and Thurik, 1999). The reason is that globalization and the ICT-revolution imply a need for a knowledge intensive economy. Such an economy emerges only after significant structural change,...

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...ntaining policy measures on a macro-economic level. The level of entrepreneurship, i.e., the number of business owners per work force, differs considerably across countries and periods (Thurik, 1999; =-=Carree and Thurik, 1999-=-). Both the causes and consequences of variation in the level of entrepreneurship are a matter of extensive scientific debate as well as of great policy importance. A high level of entrepreneurial act...

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... experience takes over in importance. As industry experience is significantly correlated with age, it might be that industry experience opens a strategic window for older people to set up a business (=-=Harvey and Evans, 1995-=-). The present study has a number of weaknesses and limitations that serve as suggestions for further research. First, in survey research one is limited to variables that are easily accessible. This d...

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...urs to be highly motivated. Finally, the use of a business plan is sometimes negatively associated with small business performance. However, in the same studies (Frese, van Gelderen and Ombach, 2000; =-=Reid and Smith, 2000-=-; van Gelderen, Frese and Thurik, 2001) planning (not in the form of a business plan) is positively associated with performance. Therefore, we make no hypothesis regarding the use of business plans. I...

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...eating and maintaining policy measures on a macro-economic level. The level of entrepreneurship, i.e., the number of business owners per work force, differs considerably across countries and periods (=-=Thurik, 1999-=-; Carree and Thurik, 1999). Both the causes and consequences of variation in the level of entrepreneurship are a matter of extensive scientific debate as well as of great policy importance. A high lev...

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... First, women need more time to actually start up a business. Is this a question of difficulties in obtaining access to resources or of differing values (Brush, 1992; Fischer, Reuber, and Dyke, 1993; =-=Verheul and Thurik, 2001-=-)? The strong correlations between being male and management and industry experience, respectively point to the first position, while the strong correlations between between being female and part-time...

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...d desirable characteristic of a research design on success in the pre-start-up phase, one would not 3only want to avoid survivor and hindsight bias, but also draw a representative and random sample (=-=Katz and Gartner, 1988-=-). To this purpose, Paul Reynolds of Babson College has set up the Entrepreneurial Research Consortium (ERC). The ERC is an international research effort (joined among others by the United States, Swe...

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... the 21,393 persons who stated not to be currently setting up a business, the sample of nascent entrepreneurs was relatively male, young, had followed higher education and earned a higher income (van =-=Gelderen, 1999-=-). Of the sample of 526 nascent entrepreneurs, 330 could be contacted one year later (63%) in order to assess the then current status of the start-up effort. Of these 330 persons, 47% started their bu...

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...m realizing their plans. This knowledge can guide policy measures that improve the general conditions surrounding startups, thus enabling a more effective use of the nascent entrepreneurs' potential (=-=Chini, Frank, Korunka, and Lueger, 2000-=-). Research by Chini et al. (2000) points to the importance of information use and availability. They found that people who had abandoned their start-up effort frequently indicated that information wa...

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.... Most research deals with the success of existing firms. However, the first success of a firm is that it becomes one. Entrepreneurs have frequently been compared with non-entrepreneurs (Baron, 1999; =-=Kaufman, 1999-=-), but not often with persons who wanted to start a business but did not succeed in doing so. Why does one person actually succeed in starting a business, while a second gives up, and a third is still...

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... well as of great policy importance. A high level of entrepreneurial activity is assumed and shown to contribute to innovative activities, competition, economic growth and job creation (Baumol, 1993; =-=Thurik, 1996-=-; Audretsch and Thurik, 2000 and 2001; Carree, van Stel, Thurik and Wennekers, 2001). For European countries in particular the fragile economic growth, coupled with the persistently high levels of une...