Esperienza lavorativa dei fondatori e sopravvivenza delle giovani imprese high-tech in mercati in crisi

2009 ◽  
pp. 41-61
Author(s):  
Luca Grilli
Keyword(s):  
Human Capital ◽  
Work Experience ◽  
Firm Survival ◽  
Jel Classification ◽  
High Tech ◽  
Specific Work ◽  
Alternative Employment ◽  
Start Up ◽  
The One ◽  
The Impact

- This article adds new insights into the relationship between the founders' human capital and the survival prospects of start-up businesses. The impact of founders' human capital on firm survival is controversial. On the one hand, more experienced and skilled individuals are likely to create start-up businesses with a high chance of survival; on the other hand, their opportunity costs to run the firm may be high given the potential returns for investing their efforts in alternative employment opportunities. Analysing a sample of 179 Italian start-up companies created during 1995-early 2000 and operating in the ICT services markets, this study provides evidence that, in intense industry crises (early 2000-2003), highly work-experienced entrepreneurs may pursue an exit strategy, highlighting the importance of distinguishing between different types of work experience and different exit routes. In particular, founding teams with highly specific work experience show higher probability of following the M&A route, while a higher level of generic work experience is more conducive to closure. Keywords: high-tech entrepreneurship; young firm survival; founders' human capital Parole chiave: imprenditorialitŕ high-tech; sopravvivenza di giovani imprese; capitale umano degli imprenditori Jel Classification: L26 - L86

When the going gets tough, do the tough get going? The pre-entry work experience of founders and high-tech start-up survival during an industry crisis

2010 ◽  
Vol 29 (6) ◽  
pp. 626-647 ◽  
Author(s):  
Luca Grilli
Keyword(s):  
Work Experience ◽  
Theoretical Perspective ◽  
High Tech ◽  
Specific Work ◽  
Start Up ◽  
Technology Services ◽  
Information And Communication ◽  
Econometric Analyses ◽  
Start Ups ◽  
Boom Period

This article explores the possibility that under an intensely negative industry-specific shock, the positive relationship between the human capital of founders and the survival prospects of start-up businesses may actually be negative. Starting from a theoretical perspective to derive testable hypotheses, the study examines a sample of 179 Italian start-ups operating in the information and communication technology services market created during the boom period from 1995 to early 2000. Econometric analyses provide evidence that, during an intense industry crisis (that is, early 2000 to 2003) entrepreneurs with a substantial amount of prior work experience may pursue an exit strategy. This also highlights the importance of distinguishing between different types of work experience and different exit routes: founding teams with highly specific work experience show a higher probability of pursuing mergers and acquisitions (M&A), while a higher level of generic work experience is found to be more conducive to firm closure.

Which types of experience matter? The role of prior start-up experiences and work experience in fostering youth entrepreneurial intentions

2020 ◽  
Vol 26 (6) ◽  
pp. 1181-1198
Author(s):  
Alex Bignotti ◽  
Ingrid le Roux
Keyword(s):  
South African ◽  
Secondary Students ◽  
Peer Influence ◽  
Work Experience ◽  
Community Support ◽  
Entrepreneurial Intentions ◽  
Content Type ◽  
South African Society ◽  
Start Up ◽  
The Impact

PurposeIn spite of research on entrepreneurial intentions being a mature field of enquiry, little is known about the influence of experience on entrepreneurial intentions, especially among the youth and in developing contexts. This paper aims to investigate the impact of different types of experience – entrepreneurial early childhood experiences, prior start-up experiences, work experience, education and peer influence – on the entrepreneurial intentions of South African youth.Design/methodology/approachFirst, a quantitative survey of 827 secondary students was administered, and the results were analysed by means of hierarchical logistic regression. Second, two focus groups were conducted with secondary students representing two distinct segments of South African society to shed light on some of the unique survey findings.FindingsThe results revealed that the experiences of having attempted to start a business and having previously worked in a business, as well as entrepreneurship education, have a positive influence on youth entrepreneurial intentions, while peers' entrepreneurial intentions exert a negative influence. Peer influence and contextual factors such as family and community support, which are catalytic in other parts of the world, appear to dampen youth entrepreneurial intentions because of fear of failure and fear of competition.Originality/valueThis paper examines the influence of a broader taxonomy of experience types on youth entrepreneurial intentions than found in previous studies. It highlights the unique role played by specific types of experience and points to the need to include extra-curricular entrepreneurial experiences in interventions aimed at fostering youth entrepreneurial intentions in developing nations.

scholarly journals Entrepreneurial Experience and Performance: From the Aspect of Sustainable Growth of Enterprises

2020 ◽  
Vol 12 (18) ◽  
pp. 7351
Author(s):  
Huatao Peng ◽  
Chen Zhou ◽  
Yang Liu
Keyword(s):  
Work Experience ◽  
Meta Analysis ◽  
Dynamic Environment ◽  
Sustainable Growth ◽  
Future Research ◽  
High Tech ◽  
Entrepreneurial Performance ◽  
Entrepreneurial Experience ◽  
Start Up ◽  
The Relationship

In the uncertain entrepreneurial ecosystem, scholarly knowledge is bounded by the sustainable growth of entrepreneurial enterprises. Moreover, there is a lack of consensus in academic circles on the relationship between entrepreneurial experience and entrepreneurial performance. In adopting the meta-analysis method, we found a significant relationship between entrepreneurial experience and entrepreneurial performance based on an investigation of 45 independent samples (N = 18,752). We also examined theoretically derived moderators of this relationship referring to firm age, industry condition and experience type to test whether the moderating effects can explain the inconsistent research results on the relationship between entrepreneurial experience and entrepreneurial performance. The relationship was stronger for the high-tech industry than for low-tech industry, for the early business stage than for late business stage and for start-up experience compared to management experience, work experience and industry experience. Our research findings are meaningful for practitioners to achieve sustainable growth by better preserving and coordinating entrepreneurial experience in a dynamic environment. Further, these findings are also important for future research to analyze the factors triggering the heterogeneity of entrepreneurial experience and to investigate the extent to which the start-up experience is more capable of promoting entrepreneurial performance.

scholarly journals Comparing Bootstrapping High-Tech Start-Up Companies in the West and in a Transition Country

2020 ◽  
Vol 7 (1) ◽  
pp. 7-14
Author(s):  
Dragana Popovic Renella ◽  
Vojin Senk ◽  
Fuada Stankovic
Keyword(s):  
Essential Feature ◽  
High Tech ◽  
Information Feedback ◽  
Industrialized Countries ◽  
Transition Country ◽  
The West ◽  
Start Up ◽  
The One ◽  
Start Ups

This is a study of the process of the development of high-tech start-up companies through the mechanisms of bootstrapping in two extremely different environments: the one of highly industrialized countries, such as USA and Switzerland; the other of Serbia, which is a post-communist transition country with particular difficulties. The research method is the analysis of case studies. One case study of US and two of Swiss start-ups build the base for the analysis. All three cases show common patterns: from the very beginning, these companies sell R&D services in their fields of expertise; and using the cash from these early sales, and the information feedback from cooperation with the early customers, they develop their resources and, eventually, also their own high-tech products. The essential feature of this process is the selling of R&D services and the first products in the neighborhoods. Then also two cases of high-tech start-ups from Serbia are analyzed. Both Serbian start-ups are founded in partnership with small high-tech companies from highly industrialized countries (Switzerland and Germany). The Western partners use their reputations and contacts to enable the early sales of the Serbian start-ups in the industrialized countries. This is crucial for the Serbian start-ups, because they have no domestic market for R&D services. Apart of this element, all other essential patterns of the Serbian cases are very similar to those of the Western cases.

scholarly journals Financial and Human Capital of Microentrepreneurs and Financing by Microfinance Institutions (MFIs) in Cameroon

2019 ◽  
Vol 4 (3) ◽  
pp. 98-107
Author(s):  
Serge MESSOMO ELLE
Keyword(s):  
Human Capital ◽  
Past Research ◽  
Jel Classification ◽  
Financial Capital ◽  
Primary Data ◽  
Microfinance Institutions ◽  
Capital Financing ◽  
Five Cs ◽  
The One ◽  
The Relationship

Objective –This study determines the nature and the direction of how financial and human capital influence the financing of microentrepreneurs in Cameroon. Compared with past research, this work uses existing microentrepreneurs only, which are considered as the only ones having access to the financing of MFIs. Methodology/Technique – This study employs an explanatory approach and uses the Five Cs model and primary data to explain the influence of financial capital (capacity, collateral, capital and condition) and human capital (character) on the financing of microentrepreneurs by MFIs. Findings – On the one hand, the findings show that character, capacity and collateral significantly increase financing of microentrepreneurs by MFIs. On the other hand, the findings reveal that that condition is significant and has an inverse relationship with lending to microentrepreneurs. Collateral was found to be not significant. Novelty: Compared with past research, this work uses existing microentrepreneurs only, which are considered as the only ones having access to the financing of MFIs. This study examines the relationship between financial and human capital to capacity, collateral capital and condition and character of microentrepreneurs. Type of Paper: Empirical Keywords: Capacity; Character Collateral; Condition; Capital; Financing of Microentrepreneurs; Microfinance Institutions. Reference to this paper should be made as follows: Serge, M.E. 2019. Financial and Human Capital of Microentrepreneurs and Financing by Microfinance Institutions (MFIs) in Cameroon, J. Fin. Bank. Review 4 (3): 98 – 107. https://doi.org/10.35609/jfbr.2019.4.3(3) JEL Classification: G21, G32, L22, O15.

Problems of the Accumulation of Human Capital by Employed Workers in Modern Russia

2021 ◽  
Vol 9 (1) ◽  
pp. 59-63
Author(s):  
Elena Basovskaya
Keyword(s):  
Human Capital ◽  
Older Workers ◽  
Work Experience ◽  
Positive Experience ◽  
Highly Qualified ◽  
Institutional Conditions ◽  
Age Related ◽  
Implementation Of Innovations ◽  
The Impact ◽  
Age Related Changes

The paper analyzes the accumulation of human capital by the employed popula-tion of modern Russia, depending on age, work experience and profession. The influ-ence of the age and seniority of workers on the amount of wages assessed as character-istics of the human capital of workers. For the analysis, we used Rosstat data on the amount of remuneration of workers of different professions, of different ages, with dif-ferent work experience for the period 2005-2019. It found that the nature of the age-related changes in wages during the period under review approached the nature of the age-related changes in wages in OECD countries, which demonstrates the resumption of growth in the wages of older workers. This indicates an increase in the efficiency of the human capital of older workers, which be explained the development of creative abilities based on the accumulated positive experience. This phenomenon is inherent, mainly, in managers and highly qualified specialists. The impact of experience on the accumulation of human capital in the period from 2005-2019 has been steadily decreasing, which indicates a low level of implementation of innovations in the economy and limited economic growth due to unfavorable institutional conditions.

START-UP AND GROWTH OF IMMIGRANT SMALL BUSINESSES: THE IMPACT OF SOCIAL AND HUMAN CAPITAL

2006 ◽  
Vol 11 (04) ◽  
pp. 357-375 ◽  
Author(s):  
JENNIFER M. SEQUEIRA ◽  
ABDUL A. RASHEED
Keyword(s):  
Human Capital ◽  
Network Theory ◽  
Small Businesses ◽  
Weak Ties ◽  
Subsequent Growth ◽  
Strong Ties ◽  
Immigrant Entrepreneurs ◽  
Start Up ◽  
Successful Business ◽  
The Impact

Networks, and their resulting social capital, can be key determinants of successful business start-up for immigrant entrepreneurs. Historically, immigrants have settled in communities characterized by networks that consist of strong ties. Network theory suggests that in addition to strong ties, success also requires the development of weak ties. In this paper, we develop a model of the relationships between strong and weak ties, and the likelihood of a business start-up and its subsequent growth. We also specifically consider the moderating effect of the entrepreneur's human capital in these relationships. Based on this model, we derive a number of theoretical propositions.

The impact of intellectual capital on SMEs’ performance in China

2019 ◽  
Vol 20 (4) ◽  
pp. 488-509 ◽  
Author(s):  
Jian Xu ◽  
Jingsuo Li
Keyword(s):  
Human Capital ◽  
Intellectual Capital ◽  
Manufacturing Sector ◽  
Operating Efficiency ◽  
High Tech ◽  
Relational Capital ◽  
Content Type ◽  
Structural Capital ◽  
Capital Efficiency ◽  
The Impact

Purpose The purpose of this paper is to explore and compare the extent of intellectual capital (IC) and its four components in high-tech and non-high-tech small and medium-sized enterprises (SMEs) operating in China’s manufacturing sector, and to examine the relationship between IC and the performance of high-tech and non-high-tech SMEs. Design/methodology/approach The study uses the data of 116 high-tech SMEs and 380 non-high-tech SMEs listed on the Shenzhen stock exchanges during 2012–2016. The modified value added intellectual coefficient (MVAIC) model is used incorporating four components, namely, capital employed, human capital, structural capital and relational capital. Finally, multiple regression analysis is utilized to test the proposed research hypotheses. Findings The findings of this paper reveal that there is significant difference in MVAIC between high-tech and non-high-tech SMEs. The results further indicate a positive relationship between IC and financial performance of high-tech and non-high-tech SMEs. Specifically, IC is positively associated with firms’ earnings, profitability and operating efficiency. Additionally, capital employed efficiency, human capital efficiency and structural capital efficiency are found to be the most influential value drivers for the performance of two types of SMEs while relational capital efficiency possesses less importance. Practical implications This paper will provide a valuable framework for executives, managers and policy makers in managing IC within the Chinese context. Originality/value To the best knowledge of the authors, this is the first empirical study that has been conducted on high-tech and non-high-tech SMEs in the manufacturing sector in China.

scholarly journals The Impact of Digitalization on the Formation of Human Capital at the Regional Level

2020 ◽  
Vol 6 (4) ◽  
pp. 184
Author(s):  
Olga Zaborovskaia ◽  
Olga Nadezhina ◽  
Ekaterina Avduevskaya
Keyword(s):  
Human Capital ◽  
Russian Federation ◽  
Fixed Effects ◽  
Ordinary Least Squares ◽  
High Tech ◽  
Municipal Services ◽  
Digital Inequality ◽  
The Russian Federation ◽  
The Individual ◽  
The Impact

Human capital becomes the most competitive and unique resource in the modern context of development of high-tech industries and formation of the digital economy. The ongoing digitalization processes have an impact on the formation and development of human capital. The aim of this work is to analyze the influence of digitalization factors on human capital in the regions of the Russian Federation. Based on statistical data from the State statistics service of the Russian Federation, the authors collected data for calculating the Index of conditions for the formation and development of human capital (CFDHC Index) for 82 regions and 34 factors that characterize the development of digitalization in Russia for the period from 2014 to 2018. The authors construct a multivariate regression using the ordinary least squares (OLS) estimation for describing the relationship between the Index and digitalization factors. With allowance for the individual effects of the regions of the Russian Federation, models with random and fixed effects were built. The results of the regression analysis confirmed the hypothesis that to form and develop human capital in the regions, measures should be taken aiming at developing digital infrastructure, reducing digital inequality, supporting higher education and research institutes, developing electronic services to provide public and municipal services.

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