We view the entrepreneur as an agent who possesses human capital in the form of specific skills or talents. When she starts a firm, her human capital is essential to the firm and it has substantial private value. The entrepreneur transforms her human capital over time into what we call ‘organization capital’. This organization capital can be sold as part of the firm, so the dynamic process of transforming specific human capital into organization capital means that the value of the firm increases over time.
Download Info
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
page. Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
Publisher Info
Paper provided by CESifo Group Munich in its series CESifo Working Paper Series with number
CESifo Working Paper No. 2242.
Find related papers by JEL classification: D92 - Microeconomics - - Intertemporal Choice and Growth - - - Intertemporal Firm Choice and Growth, Investment, or Financing L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
Did you know? You can include your works in the database easily by uploading them on the Munich Personal RePEc Archive (MPRA) if you do not have access to an institutional RePEc archive.