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The Effects Of Human Capital Interventions On Entrepreneurial Performance In Industrialized Countries

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  • Bram Hogendoorn
  • Iryna Rud
  • Wim Groot
  • Henriëtte Maassen van den Brink

Abstract

This paper provides a systematic review of studies on the effects of human capital interventions on entrepreneurial performance in industrialized countries. We identify 21 experimental and quasi‐experimental studies published before September 2018. These studies examine the effects of business training, formal education, and entrepreneurship education. Their performance outcomes include firm profits, firm size, and entrepreneurial earnings. The main finding across these studies is that these interventions do not have statistically significant effects. Formal education is the only exception, showing positive effects on firm profits and entrepreneurial earnings, yet these effects are small in magnitude. Evidence is inconclusive regarding effect duration. These findings stand in stark contrast to correlational studies, which tend to find large positive correlations between human capital interventions and entrepreneurial performance. We therefore conclude that correlational studies tend to overestimate the benefits of human capital interventions. Moreover, our estimates show that the interventions are associated with moderately low additionality.

Suggested Citation

  • Bram Hogendoorn & Iryna Rud & Wim Groot & Henriëtte Maassen van den Brink, 2019. "The Effects Of Human Capital Interventions On Entrepreneurial Performance In Industrialized Countries," Journal of Economic Surveys, Wiley Blackwell, vol. 33(3), pages 798-826, July.
    • Handle: RePEc:bla:jecsur:v:33:y:2019:i:3:p:798-826
    DOI: 10.1111/joes.12308
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    Cited by:

    1. Kunwon Ahn & John V. Winters, 2023. "Does education enhance entrepreneurship?," Small Business Economics, Springer, vol. 61(2), pages 717-743, August.
    2. Brixiová, Zuzana & Kangoye, Thierry & Said, Mona, 2020. "Training, human capital, and gender gaps in entrepreneurial performance," Economic Modelling, Elsevier, vol. 85(C), pages 367-380.
    3. Ondřej Dvouletý & Stjepan Srhoj & Smaranda Pantea, 2021. "Public SME grants and firm performance in European Union: A systematic review of empirical evidence," Small Business Economics, Springer, vol. 57(1), pages 243-263, June.
    4. Busso, Matías & Park, Kyunglin & Irazoque, Nicolás, 2023. "The Effectiveness of Management Training Programs: A Meta-Analytic Review," IDB Publications (Working Papers) 12782, Inter-American Development Bank.
    5. Cheng, Zhiming & Smyth, Russell, 2021. "Education and migrant entrepreneurship in urban China," Journal of Economic Behavior & Organization, Elsevier, vol. 188(C), pages 506-529.
    6. Shahid, Pirzada Syed Rizwan, 2023. "Founder's Human Capital and the Entrepreneurial Process Duration," OSF Preprints yf6mg, Center for Open Science.

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