Gender Differentials in Antecedents of Habitual Entrepreneurship: Impetus Factors and Human Capital

This study investigates gender differences in the effects of entrepreneurial impetus and human capital on habitual entrepreneurship, defined as starting multiple new ventures in a serial or portfolio manner. Using the Panel Study of Entrepreneurial Dynamics II (PSED II) data on nascent entrepreneurs, the effects of three impetus factors (business opportunity, mentors and nature of work) and four human capital factors (education, employment breadth, managerial experience and entrepreneurial capabilities) are explored in terms of the differential effects they have on habitual entrepreneurship in men and women. Results show an overall greater effect of human capital on women's habitual entrepreneurship than on men's, and that different human capital factors appear to drive multiple startups for women and for men. Analyses also show that different impetus factors drive women and men to start new repeat ventures. Results are discussed in the context of learning theory and entrepreneurial activity.