Table of Contents

International Handbook of Entrepreneurship and HRM

International Handbook of Entrepreneurship and HRM

Elgar original reference

Edited by Rowena Barrett and Susan Mayson

This invaluable reference tool has been designed in response to the growing recognition that too little is known about the intersection between entrepreneurship and human resource management. Paying particular attention to the ‘people’ side of venture emergence and development, it offers unique insights into the role that human resource management (HRM) plays in small and entrepreneurial firms.

Chapter 3: Entrepreneurship Capital: A Regional, Organizational, Team and Individual Phenomenon

David Audretsch and Erik Monsen

Subjects: business and management, entrepreneurship, human resource management

Extract

David Audretsch and Erik Monsen Introduction In the fields of economics and management five types of capital have been identified as drivers of economic growth: physical capital, human capital, knowledge capital, social capital, and most recently entrepreneurship capital. In this chapter we define entrepreneurship capital as a subset of social capital, which refers to those social and relational factors, forces and processes that promote or hinder the interaction of various economic agents and their ability to employ, integrate and exploit physical, human and knowledge capital for entrepreneurial ends. In this chapter the concept of entrepreneurship capital is shown to be an important factor for regional economic performance. This concept is extended to explain the economic and entrepreneurial performance of organizations, teams and individuals or in other words the economic and entrepreneurial performance of a region’s or firm’s human resources. At the regional and industry levels, we define entrepreneurship capital as those factors related to social capital influencing and shaping the capacity of a region or industry to generate entrepreneurial activity. At the firm level we define entrepreneurship capital as those organizational factors related to social capital influencing and shaping an organization in such a way as to be more conducive to the creation of new entrepreneurial business units (such as external ventures, joint ventures or internal ventures). At the team level we define entrepreneurship capital as those interpersonal factors related to social capital influencing and shaping a team in such a way...

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