Affiliation:
1. University of Exeter Business School.
2. Rotterdam School of Management, Erasmus University.
Abstract
The model developed in this paper draws on human capital theory to explain how newly founded business ventures achieve long–term growth and reduce their chances of failure. Using a sample of 201 business start–ups and assessing growth and venture failure over a period of 12 years, we found that general and specific human capital lead to growth and failure in different ways. More specifically, we found that the effect of general human capital on failure was mediated by growth. Unexpectedly, specific human capital was not related to growth and had direct negative effects on business failure.
Subject
Economics and Econometrics,Business and International Management
Cited by
147 articles.
订阅此论文施引文献
订阅此论文施引文献，注册后可以免费订阅5篇论文的施引文献，订阅后可以查看论文全部施引文献