基于能力视角的创业者人力资本与新创企业绩效作用机制研究

Study on the Mechanism between Entrepreneurial Human Capital and New Venture Performance based on Competence Perspective

以往关于创业者人力资本与新创企业绩效之间关系的实证研究一直没有得到一致性的结论,导致创业领域的学者们质疑创业者人力资本是否对新创企业绩效产生影响;然而在创业实践中风险投资家评估项目时却十分重视创业者的人力资本。本研究基于能力视角,尝试揭示人力资本与新创企业绩效的作用机制,论证了创业能力在创业者人力资本和新创企业绩效关系中的中介作用,采用因子分析、多元回归分析等方法,通过对173家新创企业进行问卷调查,对理论假设进行了检验。研究发现:(1)创业者人力资本对新创企业绩效的影响是通过创业能力的中间传导促成的,即创业能力发挥了中介作用;(2)不同类型的人力资本对不同的创业能力发挥作用。

In the prior entrepreneurial studies,scholars didn＇t find out a conclusive relationship between entrepreneurial human capital and new venture performance,which leads some scholars in the entrepreneurial field to question whether the entrepreneurial human capital has an impact on new venture performance.However,in reality,venture capitalists consider entrepreneurial human capital as an important standard when they evaluate new venture performance.Based on entrepreneurial competence perspective,our study brings entrepreneurial competences into the exploitation of mechanism between entrepreneurial human capital and new venture performance.We collect the data from 173 new ventures in China and use explorative factor analysis and hierarchical regression analysis to analyze the data.We find out that,（1） the effect of entrepreneurial human capital on the new venture performance is indirect and entrepreneurial competences pay a mediating role in the relationship between human capital and performance,（2） different entrepreneurial human capital will influence different entrepreneurial competences.