The value of an educated population for an individual's entrepreneurship success

Human capital obtained through education has been shown to be one of the strongest drivers of entrepreneurship performance. The entrepreneur's human capital, though, is only one of the input factors into the production process of her venture. In this paper we will analyze to what extent the edu...

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Bibliographic Details
Main Author: Millan, Jose Maria
Format: Article
Language:English
Published: 2014
Subjects:
Tertiary Education
Performance
Entrepreneurship
LEADER 01525nab a22001577a 4500
008 160615b2014 xxu||||| |||| 00| 0 eng d
100 |a Millan, Jose Maria 
245 |a The value of an educated population for an individual's entrepreneurship success  |c Millan, Jose Maria. 
260 |c 2014 
300 |a 612-632 
520 |a Human capital obtained through education has been shown to be one of the strongest drivers of entrepreneurship performance. The entrepreneur's human capital, though, is only one of the input factors into the production process of her venture. In this paper we will analyze to what extent the education levels of other (potential) stakeholders affect the entrepreneur's performance. The education level of consumers may shape the demand function for an entrepreneur's output, whereas the education level of employees may affect the entrepreneur's productivity and thereby shape her supply function. Based on this, we hypothesize that the performance of an entrepreneur is not only affected positively by her own education level but also by the education level of the population. We find empirical support for this hypothesis using an eight year (1994-2001) panel of labor market participants in the EU-15 countries. An implication of our finding is that entrepreneurship and higher education policies should be considered in tandem with each other. 
650 |a Tertiary Education 
650 |a Performance 
650 |a Entrepreneurship 
773 |a Journal of Business Venturing  |d Setpember 
999 |c 41531  |d 41531 

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