Category

Number of Access this item:718（2024-04-23 15:03 Counts）

Identifier to cite or link to this item: https://hdl.handle.net/10086/28507

Link to primary information 

File Format Size Views Description
cover_28507 pdf
wp2011-11 pdf 358 KB 988

Item Information

Output File

Title
Does Founders’ Human Capital Matter for Innovation? Evidence from Japanese Start-ups
Creator
Creator Name
Kato, Masatoshi Kato, Masatoshi
Affiliation
Affiliation Name
Kwansei Gakuin University
Affiliation
Affiliation Name
Hitotsubashi University
Creator Name
Okamuro, Hiroyuki Okamuro, Hiroyuki
Affiliation
Affiliation Name
Hitotsubashi University
Creator Name
Honjo, Yuji Honjo, Yuji
Affiliation
Affiliation Name
Chuo University
Editor
Contributor Name
Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University
Key Word
Start-up
Founder
Human capital
Innovations
R&D investment
JEL
L24
M13
O31
Abstract
Using a sample from an original questionnaire survey in Japan, this paper explores whether and how founders’ human capital affects innovation outcomes by start-ups. The results provide evidence that founders with greater human capital are more likely to yield innovation outcome. However, because certain types of founders’ human capital may boost R&D investment, which possibly results in innovation outcomes, we estimate the determinants of innovation outcomes by an instrumental variable probit model taking into account the endogeneity of R&D investment. Our findings suggest that specific human capital for innovation, such as founders’ prior innovation experience, is directly associated with innovation outcomes after start-up, while generic human capital, such as founders’ educational background, indirectly affects innovation outcomes through R&D investment.
Publisher
Institute of Economic Research, Hitotsubashi University
Issued Date
2011-12
Language
English(eng)
Resource Type
technical report
Version Type
VoR
Is Part OfRelation -
Related Title
CEI Working Paper Series, No. 2011-11
NCID
AA11590659
Number of Pages
25
Appears in Collections
CEI Working Paper Series
URL
https://hdl.handle.net/10086/28507