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Human capital, intellectual capital, and government venture capital

Human capital, intellectual capital, and government venture capital PurposeThe purpose of this paper is to examine the impact of human and intellectual capital on start-ups’ attainment of government venture capital (GVC). It is theorized that as a result of government predisposition toward enhancing knowledge spillover and certifying underinvested start-ups, different types of human and intellectual capital possessed by start-ups will distinctly affect GVC funding.Design/methodology/approachThe Kauffman Firm Survey, a panel data set of 4,928 new US firms over a five-year period (2004-2008), serves as the data source. Ordinary least squares regression, coupled with generalized estimating equations to check for robustness, is used to determine the effect of human and intellectual capital on GVC funding.FindingsFounders’ educational attainment has a greater impact than their occupational experience in GVC funding. While the number of patents owned by the start-up increases GVC funding, the number of trademarks and copyrights negatively influence GVC funding.Originality/valueBy distinguishing between different aspects of human and intellectual capital, this study provides a more nuanced understanding of the influence of new venture resources in the context of GVC. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Enterpreneurship and Public Policy Emerald Publishing

Human capital, intellectual capital, and government venture capital

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References (62)

Publisher
Emerald Publishing
Copyright
Copyright © Emerald Group Publishing Limited
ISSN
2045-2101
DOI
10.1108/JEPP-D-17-00008
Publisher site
See Article on Publisher Site

Abstract

PurposeThe purpose of this paper is to examine the impact of human and intellectual capital on start-ups’ attainment of government venture capital (GVC). It is theorized that as a result of government predisposition toward enhancing knowledge spillover and certifying underinvested start-ups, different types of human and intellectual capital possessed by start-ups will distinctly affect GVC funding.Design/methodology/approachThe Kauffman Firm Survey, a panel data set of 4,928 new US firms over a five-year period (2004-2008), serves as the data source. Ordinary least squares regression, coupled with generalized estimating equations to check for robustness, is used to determine the effect of human and intellectual capital on GVC funding.FindingsFounders’ educational attainment has a greater impact than their occupational experience in GVC funding. While the number of patents owned by the start-up increases GVC funding, the number of trademarks and copyrights negatively influence GVC funding.Originality/valueBy distinguishing between different aspects of human and intellectual capital, this study provides a more nuanced understanding of the influence of new venture resources in the context of GVC.

Journal

Journal of Enterpreneurship and Public Policy – Emerald Publishing

Published: Nov 6, 2017

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