Artículos
Published 2020-12-15
Keywords
- growth aspirations,
- entrepreneurship,
- general human capital,
- specific human capital
How to Cite
Romero Valbuena, H. L., Fajardo Ortiz, E. J., Rodríguez Arias, A. M., & Rueda Rodríguez, N. J. (2020). Human capital and growth aspirations of entrepreneurs in Colombia. Cambios Y Permanencias, 11(2), 832–874. Retrieved from https://revistas.uis.edu.co/index.php/revistacyp/article/view/11721
Abstract
This document presents empirical evidence on the relationship between the growth aspirations of Colombian entrepreneurs and general and specific human capital. Based on information at the individual level on the entrepreneurial activity available in the Global Entrepreneurship Monitor for the period 2015 and 2016, a multinomial logistic regression model is estimated that supports the different effects of education and experience on growth aspirations of entrepreneurs in Colombia. The results show that for 2015 the specific human capital is significant, while the general human capital is not, the above under the argument that having expertise allows the individual to better manage and organize their business and achieve business success. Compared to 2016, general human capital is significant at all levels of entrepreneurial growth aspiration, as opposed to specific human capital. The findings and implications of the results obtained are discussed.
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References
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Autio, E. (2013). High- Aspiration Entrepreneurship. En M. Minniti, (Ed.), The dynamics of entrepreneurship: evidence from the Global Entrepreneurship Monitor data (pp. 251-277). Reino Unido: Oxford University Press.
Autio, E., y Acs, Z. (2010). Intellectual property protection and the formation of entrepreneurial growth aspirations. Strategic Entrepreneurship Journal, 4(1), 234-251.
Becker, G. S. (1974). A theory of social interactions. Journal of Political Economy, 82(6), 1063-1093.
Becker, G. S. (1994). Human capital. A theoretical and empirical analysis with special reference to education. Chicago, EE. UU.: University of Chicago Press.
Boone, C., De Brabander, B., y Hellemans, J. (2000). Research note: CEO locus of control and small firm performance. Organization Studies, 21(3), 641-646.
Capelleras, J., Contin-Pilart, I., Larraza-Kintana, M., y Martin-Sánchez, V. (2019). Entrepreneurs’ human capital and growth aspirations: The moderating role of regional entrepreneurial culture. Small Business Economics, 52(1), 3-25.
Castro, R., Mora, J. y Laverde, F. (2020). High-growth aspirations of entrepreneurs in Latin America: do alliances matter? Sustainability, 12(2867), 1-22.
Cooper, A., Gascon, F., y Woo, C. (1994). Initial human and financial capital as predictors of new venture performance. Journal of Business Venturing, (9), 371-395.
Corbett, A. (2005). Experiential learning within the process of opportunity identification and exploitation. Entrepreneurship Theory and Practice, 29(4), 473-491.
Davidsson, P., y Honig, B. (2003). The role of social and human capital among nascent entrepreneurs. Journal of Business Venturing, (18), 301-331.
Davidsson, P., y Wiklund. (1996). Values, beliefs and regional variations in new firm formation rates. Journal of Economic Psychology, (17), 179-199.
Díaz, M., Morales, R., y Dávila, L. (2018). Análisis estadístico de datos categóricos. Bogotá, Colombia: Universidad Nacional de Colombia.
Estrin, S., Mickiewicz, T., y Stephan, U. (2016). Human capital in social and commercial entrepreneurship. Journal of Business Venturing, (31), 449–467.
García, L. M. (2008). Condicionantes del emprendimiento en Colombia. El Cuaderno Escuela de Ciencias Estratégicas, 2(4), 167-186.
Gerber, T., y Cheung, S. (2008). Horizontal stratification in postsecondary education: forms, explanations, and implication. Annual Review of Sociology, (34), 299-318.
Giotopoulos, I., Kontolaimou, A. y Tsakanikas, A. (2017). Drivers of high-quality entrepreneurship: what changes did the crisis bring about? Small Business Economics, 48(4), 913-930.
Global Entrepreneurship (GEM). (2018). Estudio del Actividad Emprendedora en Colombia. Colombia: (S. E.). Recuperado de https://gemcolombia.org/
Gómez, L., Martínez, J., y Arzuza, M. (2006). Política pública y creación de empresas en Colombia. Revista Pensamiento y Gestión, (21), 1-25.
Hermans, J., Vanderstraeten, J., van Witteloostuijn, A., Dejardin, M., Ramdani, D., y Stam, E. (2015). Ambitious entrepreneurship: A review of growth aspirations, intentions, and expectations. En A. Corbett, J. Katz, y A. Mckelvie, (Ed.), Advances in Entrepreneurship, Firm Emergence and Growth (pp. 127-160). EE: UU: Emerald Group Publishing Limited.
Huggins, R., Prokop, D., y Thompson, P. (2017): Entrepreneurship and the determinants of firm survival within regions: human capital, growth motivation and locational conditions. Entrepreneurship & Regional Development, 29(3-4), 357-389.
Jacobs, B. (2007). Real options and human capital investment. Labour Economics, 14(6), 913-925.
Kelley, D., Bosma, N. y Amorós, J. (2011). Global Entrepreneurship Monitor 2010 Global Report. Wellesley Mass, Santiago, Chile: Babson College & Universidad del Desarrollo.
Kirzner, I. (1973). Competition and entrepreneurship. United States: University of Chicago Press.
Lajqi, S. y Krasniqi, B. A. (2017). Entrepreneurial growth aspirations in challenging environment: the role of institutional quality, human and social capital. Strategic Change, 26(4), 385-401.
Leibenstein, H. (1968). Entrepreneurship and development. The American Economic Review, 58(2), 72-83.
McGrath, R. (1999). Falling forward: real options reasoning and entrepreneurial failure. Academy of Management Review, 24(1), 13-30.
Mincer, J. (1958) Investment in human capital and personal income distribution. Journal of Political Economy, 66(4), 281-302.
Mincer, J. (1974) Schooling, experience and earnings. New York, EE. UU.: National Press.
Parker, S. (2009). The economics of entrepreneurship. New York, EE. UU.: Cambridge University Press.
Puente, C., Mora, J., y Pereira, F. (2020). High-growth aspiration of entrepreneurs in Latin America: do alliances matter? Sustainability, 12(7), 2867- 2889.
Puente, R., Cervilla, M., González, C., y Auletta, N. (2017). Determinants of the growth aspiration: a quantitative study of Venezuelan entrepreneurs. Small Business Economics, 48(3), 699-726.
Rauch, A., y Frese, M. (2000). Psychological approaches to entrepreneurial success: a general model and an overview of findings. International Review of Industrial and Organizational Psychology, (15), 101-142.
Rauch, A., y Rijsdijk, S. A. (2013). The effects of general and specific human capital on long–term growth and failure of newly founded businesses. Entrepreneurship Theory and Practice, 37(4), 923-941.
Sánchez, S. (2017). Las competencias de los emprendedores egresados universitarios, su impacto en las aspiraciones de crecimiento y en el éxito de sus empresas (Tesis doctoral). Universitat Autónoma de Barcelona, España. Recuperado de https://ddd.uab.cat/pub/tesis/2017/hdl_10803_403765/sasd1de1.pdf
Schultz, T. (1960). Capital formation by education. The Journal of Political Economy, 68(6), 571-583.
Schultz, T. (1961). Investment in human capital. The American Economic Review, 51(1), 1-17.
Sepúlveda, J. y Bonilla, C. (2011). La actitud hacia el riesgo de emprender: evidencia para Chile. Academia: Revista Latinoamericana de Administración, (46), 72-80.
Serida, J. y Morales, O. (2011). Using the theory of planned behavior to predict nascent entrepreneurship. Academia: Revista Latinoamericana de Administración, (46), 55-71.
Shane, S., y Venkataraman, S. (2000). The promise of entrepreneurship as a field of research. Academy of Management Review, 25(1), 217-226.
Ucbasaran, D., Westhead, P., y Wright, M. (2008). Opportunity identification and pursuit: does an entrepreneur’s human capital matter? Small Business Economics, 30(2), 153-173.
Wiklund, J., Davidsson, P., y Delmar, F. (2003). What do they think and feel about growth? an expectancy–value approach to small business managers’ attitudes toward growth. Entrepreneurship Theory and Practice, 27(3), 247–270.
Autio, E. (2013). High- Aspiration Entrepreneurship. En M. Minniti, (Ed.), The dynamics of entrepreneurship: evidence from the Global Entrepreneurship Monitor data (pp. 251-277). Reino Unido: Oxford University Press.
Autio, E., y Acs, Z. (2010). Intellectual property protection and the formation of entrepreneurial growth aspirations. Strategic Entrepreneurship Journal, 4(1), 234-251.
Becker, G. S. (1974). A theory of social interactions. Journal of Political Economy, 82(6), 1063-1093.
Becker, G. S. (1994). Human capital. A theoretical and empirical analysis with special reference to education. Chicago, EE. UU.: University of Chicago Press.
Boone, C., De Brabander, B., y Hellemans, J. (2000). Research note: CEO locus of control and small firm performance. Organization Studies, 21(3), 641-646.
Capelleras, J., Contin-Pilart, I., Larraza-Kintana, M., y Martin-Sánchez, V. (2019). Entrepreneurs’ human capital and growth aspirations: The moderating role of regional entrepreneurial culture. Small Business Economics, 52(1), 3-25.
Castro, R., Mora, J. y Laverde, F. (2020). High-growth aspirations of entrepreneurs in Latin America: do alliances matter? Sustainability, 12(2867), 1-22.
Cooper, A., Gascon, F., y Woo, C. (1994). Initial human and financial capital as predictors of new venture performance. Journal of Business Venturing, (9), 371-395.
Corbett, A. (2005). Experiential learning within the process of opportunity identification and exploitation. Entrepreneurship Theory and Practice, 29(4), 473-491.
Davidsson, P., y Honig, B. (2003). The role of social and human capital among nascent entrepreneurs. Journal of Business Venturing, (18), 301-331.
Davidsson, P., y Wiklund. (1996). Values, beliefs and regional variations in new firm formation rates. Journal of Economic Psychology, (17), 179-199.
Díaz, M., Morales, R., y Dávila, L. (2018). Análisis estadístico de datos categóricos. Bogotá, Colombia: Universidad Nacional de Colombia.
Estrin, S., Mickiewicz, T., y Stephan, U. (2016). Human capital in social and commercial entrepreneurship. Journal of Business Venturing, (31), 449–467.
García, L. M. (2008). Condicionantes del emprendimiento en Colombia. El Cuaderno Escuela de Ciencias Estratégicas, 2(4), 167-186.
Gerber, T., y Cheung, S. (2008). Horizontal stratification in postsecondary education: forms, explanations, and implication. Annual Review of Sociology, (34), 299-318.
Giotopoulos, I., Kontolaimou, A. y Tsakanikas, A. (2017). Drivers of high-quality entrepreneurship: what changes did the crisis bring about? Small Business Economics, 48(4), 913-930.
Global Entrepreneurship (GEM). (2018). Estudio del Actividad Emprendedora en Colombia. Colombia: (S. E.). Recuperado de https://gemcolombia.org/
Gómez, L., Martínez, J., y Arzuza, M. (2006). Política pública y creación de empresas en Colombia. Revista Pensamiento y Gestión, (21), 1-25.
Hermans, J., Vanderstraeten, J., van Witteloostuijn, A., Dejardin, M., Ramdani, D., y Stam, E. (2015). Ambitious entrepreneurship: A review of growth aspirations, intentions, and expectations. En A. Corbett, J. Katz, y A. Mckelvie, (Ed.), Advances in Entrepreneurship, Firm Emergence and Growth (pp. 127-160). EE: UU: Emerald Group Publishing Limited.
Huggins, R., Prokop, D., y Thompson, P. (2017): Entrepreneurship and the determinants of firm survival within regions: human capital, growth motivation and locational conditions. Entrepreneurship & Regional Development, 29(3-4), 357-389.
Jacobs, B. (2007). Real options and human capital investment. Labour Economics, 14(6), 913-925.
Kelley, D., Bosma, N. y Amorós, J. (2011). Global Entrepreneurship Monitor 2010 Global Report. Wellesley Mass, Santiago, Chile: Babson College & Universidad del Desarrollo.
Kirzner, I. (1973). Competition and entrepreneurship. United States: University of Chicago Press.
Lajqi, S. y Krasniqi, B. A. (2017). Entrepreneurial growth aspirations in challenging environment: the role of institutional quality, human and social capital. Strategic Change, 26(4), 385-401.
Leibenstein, H. (1968). Entrepreneurship and development. The American Economic Review, 58(2), 72-83.
McGrath, R. (1999). Falling forward: real options reasoning and entrepreneurial failure. Academy of Management Review, 24(1), 13-30.
Mincer, J. (1958) Investment in human capital and personal income distribution. Journal of Political Economy, 66(4), 281-302.
Mincer, J. (1974) Schooling, experience and earnings. New York, EE. UU.: National Press.
Parker, S. (2009). The economics of entrepreneurship. New York, EE. UU.: Cambridge University Press.
Puente, C., Mora, J., y Pereira, F. (2020). High-growth aspiration of entrepreneurs in Latin America: do alliances matter? Sustainability, 12(7), 2867- 2889.
Puente, R., Cervilla, M., González, C., y Auletta, N. (2017). Determinants of the growth aspiration: a quantitative study of Venezuelan entrepreneurs. Small Business Economics, 48(3), 699-726.
Rauch, A., y Frese, M. (2000). Psychological approaches to entrepreneurial success: a general model and an overview of findings. International Review of Industrial and Organizational Psychology, (15), 101-142.
Rauch, A., y Rijsdijk, S. A. (2013). The effects of general and specific human capital on long–term growth and failure of newly founded businesses. Entrepreneurship Theory and Practice, 37(4), 923-941.
Sánchez, S. (2017). Las competencias de los emprendedores egresados universitarios, su impacto en las aspiraciones de crecimiento y en el éxito de sus empresas (Tesis doctoral). Universitat Autónoma de Barcelona, España. Recuperado de https://ddd.uab.cat/pub/tesis/2017/hdl_10803_403765/sasd1de1.pdf
Schultz, T. (1960). Capital formation by education. The Journal of Political Economy, 68(6), 571-583.
Schultz, T. (1961). Investment in human capital. The American Economic Review, 51(1), 1-17.
Sepúlveda, J. y Bonilla, C. (2011). La actitud hacia el riesgo de emprender: evidencia para Chile. Academia: Revista Latinoamericana de Administración, (46), 72-80.
Serida, J. y Morales, O. (2011). Using the theory of planned behavior to predict nascent entrepreneurship. Academia: Revista Latinoamericana de Administración, (46), 55-71.
Shane, S., y Venkataraman, S. (2000). The promise of entrepreneurship as a field of research. Academy of Management Review, 25(1), 217-226.
Ucbasaran, D., Westhead, P., y Wright, M. (2008). Opportunity identification and pursuit: does an entrepreneur’s human capital matter? Small Business Economics, 30(2), 153-173.
Wiklund, J., Davidsson, P., y Delmar, F. (2003). What do they think and feel about growth? an expectancy–value approach to small business managers’ attitudes toward growth. Entrepreneurship Theory and Practice, 27(3), 247–270.