Abstract

In recent years, many economies have suffered a severe economic crisis. A rise in the unemployment rate, limited access to financing and the decline of gross domestic product are some of the most noticeable consequences of the economic crisis. Little is known about how the entrepreneurial process changes after unexpected severe shocks in the economy. Entrepreneurship literature evidences that individuals’ human capital is a key determinant of any entrepreneurial action, while entrepreneurs (independent_entrepreneurs) are characterized by a general human capital; intrapreneurs (organizational_entrepreneurs) acquire a specific human capital from training programs, experiences and learning processes within existing organizations. Therefore, the experience of exploring/exploiting new opportunities within an established organization can be very inspiring for individuals involved in launching a spin-off firm for the parent company, or just simply for a (former) employee who consider the personal choice to create a new firm independently. We design and test a conceptual framework that allow us to gain a better understanding on how the intrapreneurial experience accumulated by individuals within an organization affects their propensity to start up a new firm (i.e., independent or corporate venture) on expansionary and recession periods.

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