Person: Guerrero, Maribel
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Publication How do entrepreneurs build a resilient and persistent identity? Re-examining the financial crisis impact(2024) Guerrero, Maribel; Walsh , Grace S.This study examines re-entry entrepreneurs’ response to exogenous shakeouts (economic crises). Concretely, we analyse how prior business failure experience contributes to the creation of an entrepreneurial resilience identity, through entrepreneurial persistence, during/after the Global Financial Crisis (GFC). Using data from 24 European countries from 2007 to 2014, our analysis shows that, while experiencing business failure can be challenging both personally and professionally, it also provides a tailored form of learning applicable in these challenging times. If entrepreneurs are confident and persistent, they may take advantage of failure experience, thus leading to entrepreneurial resilience, especially if they are re-entering via high-tech sectors. Our results contribute to the entrepreneurship literature by exposing the factors that increase entrepreneurial resilience and support entrepreneurial persistence. These insights may lead to the development of a resilient economy capable of overcoming the pandemic’s recessionary impact. Several implications for policymakers and entrepreneurs emerged from this study.Publication Re-entrepreneurial experience and learning during challenging times(2025) Espinoza-Benavides, Jorge; Guerrero, MaribelThis study theorizes how entrepreneurs in an emerging economy deal with adverse external scenarios by taking advantage of their previous business failure experiences. Using grounded theory and multiple case study approach, we found that individuals with re-entrepreneurial experiences exhibit greater resilience and prioritize re-building social capital as part of their crisis management tactics. This finding contrasts with those who are new entrepreneurs who do not have failure experience. Our study provides a conceptual framework to understand what re-entrepreneurs have learned from previous failure/crisis experiences to build resilience and strategically manage internal crises that were caused by exogenous events (e.g., social movements and the COVID-19 pandemic). Policymakers, entrepreneurs, and educators can benefit from the re-entrepreneurs’ learning lessons and strategic implications of this study.