Human capital effects on fundraising for necessity- and opportunity-based entrepreneurs
Eriko Naiki and
Yuta Ogane ()
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Eriko Naiki: Doshisha University
Yuta Ogane: Nanzan University
Small Business Economics, 2022, vol. 59, issue 2, No 16, 741 pages
Abstract This paper examines the effects of human capital on fundraising problems for necessity- and opportunity-based entrepreneurs by using a survey of 3974 new firms in Japan. The major findings of this paper are as follows. First, necessity-based entrepreneurs are more likely to have fundraising problems than opportunity-based entrepreneurs. Second, industry-specific experience contributes to solving fundraising problems for both necessity- and opportunity-based entrepreneurs. Third, necessity-based entrepreneurs with industry-specific experience are less likely to have fundraising problems than opportunity-based entrepreneurs without such experience.
Keywords: Human capital; Fundraising; Necessity-based entrepreneurs; Opportunity-based entrepreneurs (search for similar items in EconPapers)
JEL-codes: L26 M13 M21 (search for similar items in EconPapers)
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