Factors Contributing to the Success of Start-Up Firms Using Two-Point or Multiple-Point Scale Models

Abstract

This study investigates the determinants of start-up success in a sample of Finnish firms. Our database allows us to investigate how qualitative information based on the personal history and characteristics of the owner, along with firm and market attributes, affect success 5 years after start-up. It seeks to compare the factors affecting success as derived from two-point and multiple-point scale models. The results indicate that a multiple-point scale model yields more statistically significant attributes compared to a two-point scale model. Furthermore, the founder attributes are not as important as predicted.

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