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Factors influencing the establishment of knowledge‐intensive ventures

Henning Madsen (Centre for Organizational Renewal and Evolution, Aarhus School of Business, University of Aarhus, Aarhus V, Denmark)
Helle Neergaard (Centre for Organizational Renewal and Evolution, Aarhus School of Business, University of Aarhus, Aarhus V, Denmark)
John P. Ulhøi (Centre for Organizational Renewal and Evolution, Aarhus School of Business, University of Aarhus, Aarhus V, Denmark)

International Journal of Entrepreneurial Behavior & Research

ISSN: 1355-2554

Article publication date: 14 March 2008

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Abstract

Purpose

The importance of entrepreneurial activities and the establishment of new ventures for economic growth and employment have long been recognized. However, the interactions of underlying mechanisms whihc influence this process have not been understood all that well. In the light of this, a deeper understanding of various mechanisms on which knowledge‐intensive entrepreneurship hinges is needed. This paper aims to investigate how the make‐up of financial, human and social capital impacts on entrepreneurial action.

Design/methodology/approach

Based on a longitudinal study using both structured survey and in‐depth interview techniques, this research addresses the role and importance of financial capital, human capital and social capital in the organizational genesis and early growth of entrepreneurial activities.

Findings

Financial capital remains the most critical asset in the entrepreneurial process. However, possessing the right mixture of human and social capital is often a prerequisite for accessing the best capital sources as well as sufficient capital. The value of human and social capital, however, depends largely on the industry environment.

Originality/value

The findings give weight and insight to the understanding that it is important, for policy‐makers for example, to tailor support initiatives to specific industries.

Keywords

Citation

Madsen, H., Neergaard, H. and Ulhøi, J.P. (2008), "Factors influencing the establishment of knowledge‐intensive ventures", International Journal of Entrepreneurial Behavior & Research, Vol. 14 No. 2, pp. 70-84. https://doi.org/10.1108/13552550810863062

Publisher

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Emerald Group Publishing Limited

Copyright © 2008, Emerald Group Publishing Limited