Serial entrepreneurs: A review of literature and guidance for future research

Figures & data

Figure 1. Methodology protocol.

Source: own draft based on (Dabić et al., 2020).

Table 1. Overview of most frequent journal sources by the number of articles.

No.	Publications	Frequency of articles
1	Small Business Economics	18
2	Journal of Business Venturing	9
3	Entrepreneurship Theory and Practice	8
4	International Journal of Entrepreneurship and Small Business	5
5	International Small Business Journal	4
6	Journal of Small Business and Entrepreneurship	4
7	International Entrepreneurship and Management Journal	3
8	International Journal of Entrepreneurial Behavior and Research	3
9	Journal of Small Business and Enterprise Development	3
10	Harvard Business Review	2

Figure 2. Map of the serial entrepreneurship research field.

Table 2. Descriptors that represent the poles of the axes.

Axes	Descriptor	Origin of the axes descriptor	Characteristic Keywords	Representative studies
Axis X Left	Entrepreneurial Ecosystem	Institutional Theory	Goverment; Institutions; Ecosystem; Regional Development	Ensign & Farlow (2016); Pittz et al. (2021)
		Performance	Efficiency; Business Clusure; Economic Growth; Business Failure
Axis X Right	Entrepreneurial Capability	Capital Theory	Capital; Competence; Human Capital; Skills	Mosey and Wright (2007); Barnir (2014)
		Diversity	Disadvantage; Women; Male; Gender; Demographic
Axis Y Upper	Heuristics & Entrepreneurship	Behavioral Theories	Ambition; Aspiration; Attributes; Behavior; Emotion; Addiction	Hayward et al. (2010); Hsu et al. (2017)
		Entrepreneurial Strategy	Partnership; Micro-Firms; Strategic Orientation; Business Development
Axis Y Lower	Technological Development & Resources	Technopreneurship and Innovation	Innovativeness; Innovation; High-Tech; Digital Application; Technological	Lahiri and Wadhwa (2020); Gruber et al. (2008)
		Resource Based View	Tangible Resources; Resource Deficit; Crowdfunding; Investments

Table 3. Mapping streams and avenues for the future research agenda of serial entrepreneurship.

Streams and avenues of research	Exemplary research questions
Diversity Theory
Institutional Theory	What roles do culture and informal institutions play in serial entrepreneurship? And, specifically, with regard to female serial entrepreneurship? And on diversity contingencies? What are the roles of formal institutions, ecosystem actors, and stakeholders in serial entrepreneurship? And, specifically, with regard to female serial entrepreneurship? And on diversity contingencies?
Resource Based View Theory	How do diverse entrepreneurs use their resources, experience, and skills to create new ventures? Are there any differences in comparison to traditional serial entrepreneurs?
Entrepreneurial Strategy
Entrepreneurial Strategy – Resource Based view and Knowledge Based View Theories	What specific resources, knowledge, experiences, and skills of a serial entrepreneur can influence entrepreneurial strategy (exit and reentry)? What is the interplay between the resources, knowledge, experience, and skills of a serial entrepreneur and their strategies of dealing with the consequences of an entrepreneurial exit (direct, indirect, and long-term consequences)? Does this relate to the type of entrepreneurial exit strategy adopted (firm and/or founder exit)? Does this relate to their reasoning behind an entrepreneurial exit (alternative, calculative, or normative reasons; due to a failure or a success)? How does all of this affect reentry strategies?
Entrepreneurial Strategy – Institutional Theory	How do formal and informal institutions influence reasons, types, and consequences of entrepreneurial exits? How does this affect reentry strategies?
Technopreneurship and Innovation
Technopreneurship and Innovation – Capital Theory	How does the human capital of a serial entrepreneur impact upon: the innovativeness and innovation performance of subsequent ventures? open innovation strategy adoption? business model innovation?
Technopreneurship and Innovation – Institutional Theory	What are the effects of digital transformation and technological advancement on serial entrepreneurs’ ability to innovate and their business models? How do formal and informal institutions affect serial entrepreneurs’ ability to innovate? How do industry logics affect serial entrepreneurs’ ability to innovate?
Avenues outside the matrix
Serial Entrepreneurship – Sustainability	How will serial entrepreneurship contribute to sustainability? What is the role of a serial entrepreneur’s innovative ability in promoting sustainability? What is the role of a serial entrepreneur’s human capital and experience in promoting sustainability?
Serial Entrepreneurship – COVID-19 pandemic	How will the COVID-19 pandemic impact upon serial entrepreneurship in relation to entrepreneurs’ ability to recognize new opportunities, as well as their performance? What is the role of a serial entrepreneur’s human capital and experience in overcoming limitations related to the COVID-19 pandemic?

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