New firms are an important trigger for the generation and diffusion of new products and processes. If successful, new firms contribute significantly to the creation of jobs and to economic growth. However, new firms are subject to a greater risk of failure as compared to established firms. While there is considerable evidence on entry and growth of surviving firms,the risk and especially the virtue of firm failure and firm exit has attracted less research effort.The aim of the workshop is to address this issue. A special focus of the workshop is on theimpact of firm failure on the subsequent start of a new firm, i.e. on serial entrepreneurship. Itwill also take a look at the phenomenon of starting up and managing more than one new firm,i.e. on portfolio entrepreneurship.

The workshop aims at stimulating discussion between researcher and at providing a forum for latest research results in this field. The workshop addresses the following topics:

  • Variables influencing various types of firm exit (at the individual level, firm level, regional or industry level)
  • Theoretical explanations of serial and portfolio entrepreneurship
  • Quantitative assessment of serial entrepreneurship and portfolio entrepreneurship:How large is the share of serial and/or portfolio entrepreneurs? Are second start-ups more successful? What is the industry distribution of serial and portfolio entrepreneurship?
  • Longitudinal studies on the explanations of firm exit and on serial and portfolio entrepreneurship
  • Interregional and international studies of firm exit and on serial and portfolio entrepreneurship.
  • The economic impact of turbulence (combined firm entries and exits)
  • Insolvency laws and realisation of the second chance

We invite papers that deal with these issues in a broad sense, referring to a broad set ofresearch methods. Scholars who aim to participate at this conference are invited to submit a full paper by November 18th. Please submit the paper as PDF to

Accommodation will be covered by the organizing institutes. Travel expenses to the venue might be covered upon request.

For up-to-date information please check, or contact the organizers

Erik Stam (
Max Keilbach (
Michael Niefert (


13.01.2006 - 14.01.2006

Event Location

Max-Planck-Institute, Jena