Beschreibung

"We explore the role of human capital aspects in explaining whether nascents succeed in the start-up of a new venture. The data used are based on a survey among nascent entrepreneurs in Germany and the Netherlands supplemented by follow-up interviews one year after the first contact. Applying multinomial probit estimations we find that several human capital aspects are related to the probability of getting the business started. For example, a high general degree of human capital (i.e. holding a university degree) lowers the likelihood to succeed in the start-up of the venture, whereas recent employment experience (as opposed to being unemployed or out of the labor force) increases start-up success. Furthermore, we find that specialists are more likely to succeed in getting their business started than generalists." (Author's abstract, IAB-Doku) ((en))