R&D investment of start-up firms: does founders’ human capital matter?

Yuji Honjo (), Masatoshi Kato and Hiroyuki Okamuro

Small Business Economics, 2014, vol. 42, issue 2, 207-220

Abstract: This article examines whether founders’ human capital affects not only actual investment but also required investment in research and development (R&D), using the original data of Japanese start-up firms. The estimation results indicate that higher levels of founders’ human capital, especially their education levels, increase both actual and required investment in R&D and thus do not necessarily contribute to reducing the funding gap for R&D. Copyright Springer Science+Business Media New York 2014

Keywords: Founder; Funding gap; Human capital; R&D; Start-up; G30; M13; O32; L26 (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (23)

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Persistent link: https://EconPapers.repec.org/RePEc:kap:sbusec:v:42:y:2014:i:2:p:207-220

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DOI: 10.1007/s11187-013-9476-x

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