The Value of Human and Social Capital Investments for the Business Performance of Startups
AbstractWe investigate the manifold posed question: "To what extent does investment in human and social capital, besides the effect of 'talent', enhance entrepreneurial performance?" We distinguish between three different performance measures: survival, profits, and generated employment. On the basis of the empirical analysis of a rich Dutch longitudinal data set of firm founders, we conclude that specific investments indeed affect the three performance measures substantially and significantly. Specific attention is paid to the unobserved talent bias. Moreover, the effect of the emergence of so called "knowledge industries" is explored.
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Bibliographic InfoArticle provided by Springer in its journal Small Business Economics.
Volume (Year): 23 (2004)
Issue (Month): 3 (October)
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Web page: http://www.springerlink.com/link.asp?id=100338
Other versions of this item:
- Gerrit de Wit & Niels Bosma & Roy Thurik & Mirjam van Praag, 2002. "The Value of Human and Social Capital Investments for the Business Performance of Startups," Scales Research Reports N200204, EIM Business and Policy Research.
- Niels Bosma & Mirjam van Praag & Roy Thurik & Gerrit de Wit, 2002. "The Value of Human and Social Capital Investments for the Business Performance of Start-ups," Tinbergen Institute Discussion Papers 02-027/3, Tinbergen Institute.
- M13 - Business Administration and Business Economics; Marketing; Accounting - - Business Administration - - - New Firms; Startups
- D92 - Microeconomics - - Intertemporal Choice and Growth - - - Intertemporal Firm Choice and Growth, Financing, Investment, and Capacity
- J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
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