Instrumental Value Theory and the Human Capital of Entrepreneurs

J.D. Levie, E. Gimmon

Research output: Contribution to journalArticle

13 Citations (Scopus)

Abstract

Given the contribution of Schumpeterian entrepreneurship to technological progress and well-being, the accuracy of investment decisions by venture capitalists is a societal issue. Venture capitalists find the human capital of entrepreneurs difficult to assess. This paper employs instrumental value theory to assess the value of different human capital factors to the performance of new ventures. A meta-analysis of 29 previous empirical studies that examined the effect of founder's human capital on new venture performance suggested that instrumental value theory holds promise as a guide for research on entrepreneurs' human capital and new venture performance. It could also help venture capitalists to make better investment decisions, benefiting society in general
LanguageEnglish
Pages715-732
Number of pages17
JournalJournal of Economic Issues
Volume43
Issue number3
Publication statusPublished - 26 May 2009

Fingerprint

Entrepreneurs
Human capital
Value theory
Venture capitalists
New venture performance
Investment decision
New ventures
Empirical study
Factors
Well-being
Technological progress
Meta-analysis
Entrepreneurship
Joseph Schumpeter

Keywords

  • instrumental value theory
  • entrepreneurship
  • human capital

Cite this

Levie, J.D. ; Gimmon, E. / Instrumental Value Theory and the Human Capital of Entrepreneurs. In: Journal of Economic Issues. 2009 ; Vol. 43, No. 3. pp. 715-732.
@article{a7fc5e8c118146d99a09b54724cf7258,
title = "Instrumental Value Theory and the Human Capital of Entrepreneurs",
abstract = "Given the contribution of Schumpeterian entrepreneurship to technological progress and well-being, the accuracy of investment decisions by venture capitalists is a societal issue. Venture capitalists find the human capital of entrepreneurs difficult to assess. This paper employs instrumental value theory to assess the value of different human capital factors to the performance of new ventures. A meta-analysis of 29 previous empirical studies that examined the effect of founder's human capital on new venture performance suggested that instrumental value theory holds promise as a guide for research on entrepreneurs' human capital and new venture performance. It could also help venture capitalists to make better investment decisions, benefiting society in general",
keywords = "instrumental value theory, entrepreneurship, human capital",
author = "J.D. Levie and E. Gimmon",
year = "2009",
month = "5",
day = "26",
language = "English",
volume = "43",
pages = "715--732",
journal = "Journal of Economic Issues",
issn = "0021-3624",
number = "3",

}

Levie, JD & Gimmon, E 2009, 'Instrumental Value Theory and the Human Capital of Entrepreneurs' Journal of Economic Issues, vol. 43, no. 3, pp. 715-732.

Instrumental Value Theory and the Human Capital of Entrepreneurs. / Levie, J.D.; Gimmon, E.

In: Journal of Economic Issues, Vol. 43, No. 3, 26.05.2009, p. 715-732.

Research output: Contribution to journalArticle

TY - JOUR

T1 - Instrumental Value Theory and the Human Capital of Entrepreneurs

AU - Levie, J.D.

AU - Gimmon, E.

PY - 2009/5/26

Y1 - 2009/5/26

N2 - Given the contribution of Schumpeterian entrepreneurship to technological progress and well-being, the accuracy of investment decisions by venture capitalists is a societal issue. Venture capitalists find the human capital of entrepreneurs difficult to assess. This paper employs instrumental value theory to assess the value of different human capital factors to the performance of new ventures. A meta-analysis of 29 previous empirical studies that examined the effect of founder's human capital on new venture performance suggested that instrumental value theory holds promise as a guide for research on entrepreneurs' human capital and new venture performance. It could also help venture capitalists to make better investment decisions, benefiting society in general

AB - Given the contribution of Schumpeterian entrepreneurship to technological progress and well-being, the accuracy of investment decisions by venture capitalists is a societal issue. Venture capitalists find the human capital of entrepreneurs difficult to assess. This paper employs instrumental value theory to assess the value of different human capital factors to the performance of new ventures. A meta-analysis of 29 previous empirical studies that examined the effect of founder's human capital on new venture performance suggested that instrumental value theory holds promise as a guide for research on entrepreneurs' human capital and new venture performance. It could also help venture capitalists to make better investment decisions, benefiting society in general

KW - instrumental value theory

KW - entrepreneurship

KW - human capital

M3 - Article

VL - 43

SP - 715

EP - 732

JO - Journal of Economic Issues

T2 - Journal of Economic Issues

JF - Journal of Economic Issues

SN - 0021-3624

IS - 3

ER -