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Industrial Firm Performance, Entrepreneurial Age, and Managerial Practice
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Author(s): Carlos Augusto Rincón Díaz (La Salle University, Colombia), Jorge Alberto Gámez-Gutiérrez (Uniagustiniana, Colombia)and Robinson Ernesto Calvo (Universidad ECCI, Colombia)
Copyright: 2020
Pages: 27
Source title:
Senior Entrepreneurship and Aging in Modern Business
Source Author(s)/Editor(s): José Manuel Saiz-Álvarez (EGADE Business School, Tecnologico de Monterrey, Mexico & Mexican Academy of Sciences, Mexico)and Jorge Alberto Gámez-Gutiérrez (Uniagustiniana, Colombia)
DOI: 10.4018/978-1-7998-2019-2.ch011
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Abstract
Some authors and entrepreneurs have weaknesses in their infrastructure, innovation, and management skills. Industrial SMEs contribute to the productivity of countries. In recent years a group of senior entrepreneurs refers to those individuals aged 50 or over who have created a business. It is assumed that senior entrepreneurs have had more time to accumulate human capital. However, human capital can also depreciate. This document analyzes the performance of industrial companies according to the ages and managerial practices of the entrepreneurs, with a sample of 383 companies. Based on two components of the Blackman model, the durability of the SME that depends on the conditions of the entrepreneur, their characteristics, and their management practices. The research design is based on a quasi-experimental and multifactorial, quantitative and deductive methodology. The third part of the entrepreneurs used six management practices that were accompanied by economic benefits. Twelve percent of managing owners are over 40 years of age and show similar performance to younger entrepreneurs.
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