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Growth of born globals: the role of the entrepreneur’s personal factors and venture capital

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  • Elisa Ughetto

    (DIGEP)

Abstract

This paper examines to what extent the human capital of entrepreneurs and the receipt of venture capital (VC) financing affect the growth of born globals (BGs). The study analyzes a sample of 242 BGs resulting from a survey on high-tech start-ups operating in the ICT and electronics sectors, located in different countries throughout the world. A multivariate explorative analysis controlling for the endogenous nature of VC is conducted. The results indicate that the experience of the entrepreneur in having previously established another entrepreneurial firm positively affects the growth of BGs. A negative effect is associated with the presence of heterogeneity in the management team in terms of education background. With regard to the linkage between financial capital and growth, it is found that both VC financing and the number of founders (a proxy for the availability internal capital) positively influence the growth of BGs.

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  • Elisa Ughetto, 2016. "Growth of born globals: the role of the entrepreneur’s personal factors and venture capital," International Entrepreneurship and Management Journal, Springer, vol. 12(3), pages 839-857, September.
    • Handle: RePEc:spr:intemj:v:12:y:2016:i:3:d:10.1007_s11365-015-0368-1
    DOI: 10.1007/s11365-015-0368-1
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    5. Musa Abdu & Babangida Muhammad Musa & Adamu Jibir, 2022. "Firm-level study of the drivers of internationalization of small- and medium-scale enterprises in Sub-Saharan Africa," SN Business & Economics, Springer, vol. 2(6), pages 1-25, June.
    6. Angélique Breuillot & Rachel Bocquet & Véronique Favre-Bonté, 2022. "Navigating the internationalization process: Strategic resources for early internationalizing firms," Journal of International Entrepreneurship, Springer, vol. 20(2), pages 282-315, June.
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    8. Quan Anh Nguyen & Gillian Sullivan Mort, 2021. "Conceptualising organisational-level and microfoundational capabilities: an integrated view of born-globals’ internationalisation," International Entrepreneurship and Management Journal, Springer, vol. 17(4), pages 1781-1803, December.

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