The Impact of Human and Social Capital on Entrepreneurs’ Knowledge of Finance Alternatives

Seghers, Arnout; Manigart, Sophie; Vanacker, Tom

doi:10.1111/j.1540-627x.2011.00344.x

Cited by 106 publications

(120 citation statements)

References 57 publications

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“…In summary, crowdfunding literature consistently argues for the importance of social networks as well as the effective management of these networks (Mollick 2012;Hui et al, 2013), which is also echoed by findings in the entrepreneurial literature (Molina-Morales and -Fernadez, 2010;Seghers et al, 2012;Durkin and McGowan 2013;Sigmund et al, 2013). For SMEs however this can prove difficult due to their resource poverty, which can mean their execution of, and ability to manage social networks is haphazard and informal (Gilmore et al, 2001;Franco et al, 2014), and lacks purposeful use (Durkin and McGowan, 2013).…”

Section: Crowdfunding and Network Managementmentioning

confidence: 90%

Success in the management of crowdfunding projects in the creative industries

2016

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Purpose -Crowdfunding has become a significant way of funding independent film.However undertaking a campaign can be time consuming and risky. This paper aims to understand the problems that small and medium sized productions companies may face when using this approach.Design/Methodology/Approach -This study analyses 100 creative crowdfunding campaigns within the film and video category on crowdfunding website Kickstarter. Campaigns were analysed in relation to a number of variables, followed by an exploratory factor analysis to highlight the main factors contributing to crowdfunding success.Findings -This study finds two key factors that contribute to crowdfunding success; 'Network Management' and 'Campaign Management'. The attributes of these factors lead us to question the long-term ability of crowdfunding to aid companies poorer in terms of time, financial and personnel resources, and therefore arguably in the greatest need of crowdfunding platforms.Practical Implications -The findings provide insight to practitioners considering the crowdfunding approach and offers knowledge and recommendations so as to avoid what can be naïve and costly mistakes. The findings highlight that crowdfunding should not be considered lightly and can be a considerable investment of resources to be successful Originality/Value -The individual analysis of crowdfunding campaigns undertaken allows for details and recommendations into the contributory factors of crowdfunding success particularly relevant to creative campaigns. The findings also allow the ability of crowdfunding to significantly aid upcoming or unknown creative talent to be put into question.

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Section: Crowdfunding and Network Managementmentioning

confidence: 90%

Success in the management of crowdfunding projects in the creative industries

2016

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“…Indeed, stimulating the demand for external finance is an important objective to increase entrepreneurial ambition in firms. Research shows that entrepreneurs with higher levels of human capital and more extensive networks have a greater knowledge of financial options (Seghers et al 2012). …”

Section: Types Of Finance Needed To Fund High Growthmentioning

confidence: 99%

Myth-busting and entrepreneurship policy: the case of high growth firms

Brown

Mawson

Mason

2017

Entrepreneurship & Regional Development

162

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Promoting high growth firms (HGFs) has become a strong fixation within enterprise policy. This is a debate article seeking to examine and challenge the mythology perpetuated by policy makers and embedded within high growth entrepreneurship policy frameworks. Within the article we argue that a number of distinctive 'myths' have become deeply embedded within these policy frameworks. Such myths have been built on misconceived preconceptions of HGFs, which has resulted in policy-makers taking a myopic view of these firms. A key aim of the paper is to highlight how false perceptions of HGFs translate into inappropriate policy interventions. The paper challenges some of the most commonly held myths about these firms (that they are predominantly young, small, high-tech, VC-backed, university spin-outs, who grow in an orderly organic fashion, operating similarly irrespective of location) and identifies a clear mismatch between how policy makers perceive HGFs and what they actually look like in reality. Suggestions for the design of future policy approaches are forwarded.

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“…The entrepreneurship literature has found that nascent entrepreneurs with prior entrepreneurial or managerial experience have knowledge regarding the various activities associated with starting a firm, including how to develop contacts with customers and financiers, gather and allocate resources, organize internal processes and structures, attract and retain employees (Delmar, Shane 2006;Dimov 2010;Grichnik et al 2014). Given the importance of the domain specific insights, young inexperienced entrepreneurs lack important knowledge about the ways to address liabilities and constraints when starting a new business and competing for resources (Grichnik et al 2014;Hitt et al 2001;Seghers et al 2012). Prior entrepreneurial and managerial experiences provide greater repertoire of skills needed to start a new business (Kim et al 2006).…”

Section: Resources and Industry Choicementioning

confidence: 99%

“…Inexperienced young entrepreneurs usually have troubles trying to assess resources they need and barriers they may face (Hitt et al 2001;Seghers et al 2012;Grichnik et al 2014). As universities provide a set of various valuable insights, education may partly serve as a substitute of experience (Shane 2000;Zhao et al 2005).…”

Section: Resources and Industry Choicementioning

confidence: 99%

Industry Choice by Young Entrepreneurs in Different Country Settings: The Role of Human and Financial Capital

Knatko

Shirokova

Bogatyreva

2016

Journal of Business Economics and Management

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Entrepreneurial entry happens as a consequence of a general choice of an individual to become an entrepreneur. While most entrepreneurial entry studies rarely consider an entry into a particular industry to be an aspect of entrepreneurial decision making process, we address this issue taking into account individual, industrial, and country specific attributes. Using data from the Global University Entrepreneurial Spirit Students' Survey (2013-2014) on young and active entrepreneurs and extending it with objective indicators derived from World Bank, Global Entrepreneurship Monitor, and International Property Rights Index datasets, we investigate how various factors influence entrepreneurial industry choice on an aggregated level of industrial typology: knowledge-intensive and capital-intensive industries. Drawing on the RBV and contingency approach, we link an industry choice with the level of human capital development and an access to financial capital and test for possible countryspecific moderation effects. Our findings indicate that both types of capital have a significant impact on industry choice by young nascent entrepreneur. Our results also suggest that specific country environment serves as a moderator in this relationship. Thus, our study contributes to entrepreneurial entry research stream extending the understanding of entrepreneurial entry decision making nuances related to individual access to resources and both industry-and country-level contingencies.

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The Impact of Human and Social Capital on Entrepreneurs’ Knowledge of Finance Alternatives

Cited by 106 publications

References 57 publications

Success in the management of crowdfunding projects in the creative industries

Success in the management of crowdfunding projects in the creative industries

Myth-busting and entrepreneurship policy: the case of high growth firms

Industry Choice by Young Entrepreneurs in Different Country Settings: The Role of Human and Financial Capital

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