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The role of human capital for entrepreneurial decision-making - investigating experience, skills and knowledge as antecedents to effectuation and causation

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  • Jochen Schmidt
  • Sven Heidenreich

Abstract

Experts in entrepreneurship apply effectuation rather than causation as entrepreneurial approach in corporate ventures. While previous research suggests that entrepreneurial experiences determine this effect, it is unclear how different types of such experiences and other elements of human capital influence entrepreneurial decision-making. Hence, this study differentiates experience in start-ups and corporate entrepreneurship to empirically evaluate their individual effects alongside with entrepreneurial skills and knowledge on 212 German general managers' behavioural intentions to apply effectuation or causation. Results from structural equation modelling (SEM) indicate that corporate entrepreneurship experiences foster causation and oppress effectuation while start-up experiences drive the application of both entrepreneurial behaviours the other way around. Furthermore, entrepreneurial skills facilitate the use of prior knowledge through an effectual approach. This emphasises that the way how employees develop ideas into practice relates to multiple facets of human capital and thus to more than entrepreneurial experiences, as it has been long suggested by previous studies.

Suggested Citation

  • Jochen Schmidt & Sven Heidenreich, 2018. "The role of human capital for entrepreneurial decision-making - investigating experience, skills and knowledge as antecedents to effectuation and causation," International Journal of Entrepreneurial Venturing, Inderscience Enterprises Ltd, vol. 10(3), pages 287-311.
    • Handle: RePEc:ids:ijeven:v:10:y:2018:i:3:p:287-311
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    Citations

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    Cited by:

    1. Stefanie Weniger & Svenja Jarchow, 2023. "Between benefit and risk: how entrepreneurs evaluate corporate investors," Journal of Business Economics, Springer, vol. 93(5), pages 783-816, July.
    2. Scazziota, Vanessa & Serra, Fernando & Sarkar, Soumodip & Guerrazzi, Luiz, 2023. "The antecedents of entrepreneurial action: A meta-synthesis on effectuation and bricolage," Journal of Business Research, Elsevier, vol. 155(PA).
    3. Al Mamun, Abdullah & Thurasamy, Ramayah & Fazal, Syed Ali, 2021. "Entrepreneurial index for low-income households in Malaysia," Socio-Economic Planning Sciences, Elsevier, vol. 77(C).

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