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Human Capital and Entrepreneurship

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  • Ni Qin
  • Dongmin Kong

Abstract

This study investigates the causal effect of human capital on entrepreneurship. We use China’s higher-education expansion in 1999 as an exogenous shock to conduct difference-in-differences estimation and find that human capital enhances entrepreneurship significantly. Our results are robust to different specifications and measures. We provide supportive evidence based on two alternative natural experiments: China’s university relocation (1952) and the restart of the college entrance exam (1977). Plausible mechanisms that drive our results are resource acquisition, opportunity identification, and decrease in labor cost. We also find that institutional quality, trust, and financing conditions significantly strengthen our findings.

Suggested Citation

  • Ni Qin & Dongmin Kong, 2021. "Human Capital and Entrepreneurship," Journal of Human Capital, University of Chicago Press, vol. 15(4), pages 513-553.
    • Handle: RePEc:ucp:jhucap:doi:10.1086/716344
    DOI: 10.1086/716344
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    Cited by:

    1. Balaussa Azubayeva, 2021. "The Impact of Cultural Capital on Development of Entrepreneurship in Wales," Administrative Sciences, MDPI, vol. 11(4), pages 1-24, December.
    2. Alrowwad, Anas Mohammad & Alhasanat, Khaled Ahmad & Sokil, Oleh & Halko, Serhii & Kucherkova, Svitlana, 2022. "Sustainable transformation of accounting in agriculture," Agricultural and Resource Economics: International Scientific E-Journal, Agricultural and Resource Economics: International Scientific E-Journal, vol. 8(2), June.
    3. Gan, Tian & Zhang, Mingxin & Zhang, Zhiqiang, 2023. "The impact of digital government policy on entrepreneurial activity in China," Economic Analysis and Policy, Elsevier, vol. 79(C), pages 479-496.
    4. Liu, Chen & Yang, Wei, 2023. "Does social insurance stimulate business creation? Evidence from China," Pacific-Basin Finance Journal, Elsevier, vol. 79(C).
    5. Wu, Jinshun & Wu, Luyao, 2023. "Impacts of digital inclusive finance on household entrepreneurship," Finance Research Letters, Elsevier, vol. 56(C).
    6. Liu, Mengsha & Jiang, Yan & Wei, Xiaokun & Ruan, Qingsong & Lv, Dayong, 2023. "Effect of high-speed rail on entrepreneurial activities: Evidence from China," Socio-Economic Planning Sciences, Elsevier, vol. 87(PA).

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