When venture capitalists are attracted by the experienced

Kim, Dohyeon; Lee, Su Yong

doi:10.1186/s13731-022-00227-2

Journal of Innovation and Entrepreneurship

A Systems View Across Time and Space

Table 1 Operational definitions and references

From: When venture capitalists are attracted by the experienced

Attribute	Levels	Operational definitions	References
Industry experience of the entrepreneur	High	The entrepreneur has more than 5 years of experience in the related industry	Miloud et al., (2012), Zacharakis and Shepherd (2001)
	Moderate	The entrepreneur has less than 5 years of experience in the related industry
	Low	The entrepreneur has no experience in the related industry
Managerial experience of the entrepreneur	High	The entrepreneur has previous managerial experience at least as a team leader in a corporation	Muzyka et al. (1996), Miloud et al. (2012), Shane (2003)
Managerial experience of the entrepreneur	Low	The entrepreneur has no managerial experience in a corporation	Muzyka et al. (1996), Miloud et al. (2012), Shane (2003)
Entrepreneurial experience of the entrepreneur	High	The entrepreneur has significant experience in the establishment of a startup	Hsu (2007), Miloud et al. (2012)
	Moderate	The entrepreneur has experience in the establishment of a startup
	Low	The entrepreneur has no experience in establishing a startup
Educational background of the entrepreneur (degree and university prestige)	High	The entrepreneur has a doctorate degree from a prestigious university The entrepreneur has a bachelor’s degree from a prestigious university The entrepreneur has a doctorate degree from a non-prestigious university	Hsu (2007)
	Low	The entrepreneur has a bachelor’s degree from a non-prestigious university	Hsu (2007)
Entrepreneur’s experience in attracting investment	High	The entrepreneur has experience in receiving investment from formal investors	Drover et al. (2017), Hsu (2007)
	Moderate	The entrepreneur has experience in receiving investment from informal investors
	Low	The entrepreneur does not have experience receiving investment
Product (or service) newness	High	There are no products (or services) in overseas markets or domestic markets	Hyytinen et al. (2015)
	Moderate	There are products (or services) in overseas markets, but not in domestic markets
	Low	There are products (or services) both overseas and domestically
Product (or service) completeness	High	Products (or services) are ready to be launched in the market	Macmillan et al. (1985)
Product (or service) completeness	Low	Products (or services) are under development	Macmillan et al. (1985)

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