https://macropaperwarehouse.com/authors/ruochen-dai/Ruochen DaiHugo -- gohugo.ioen-usThu, 01 Jan 2026 00:00:00 +0000https://macropaperwarehouse.com/papers/serial-entrepreneurship-in-china/Thu, 01 Jan 2026 00:00:00 +0000https://macropaperwarehouse.com/papers/serial-entrepreneurship-in-china/<p>This paper studies entrepreneurship and new firm creation in China through the lens of serial entrepreneurs (SEs) — individuals who establish more than one firm — contrasting them with non-serial entrepreneurs (Non-SEs). The central question is whether serial entrepreneurs are selected on persistent productive skill or on non-skill advantages such as preferential access to finance, because the two mechanisms have opposite implications for resource allocation: skill-driven serial entrepreneurship raises aggregate productivity, while favoritism-driven serial entrepreneurship generates misallocation.</p>