Peter Vogel

Entrepreneurship research mainly focused on linear effects of human capital on venture performance, while recent publications have pointed towards non-linear effects. We investigate non-linear effects of both general and specific human capital on nascent venture performance. Based on data from PSED II, we study U-shaped relationships between general education, management, industry, and startup experience and nascent venture progress. We find that while general education, management experience, and startup experience have an inverse U-shaped relationship, industry experience has a U-shaped relationship with venture progress. Our findings have implications for theory and practice.

Entrepreneurship research mainly focused on linear effects of human capital on venture performance, while recent publications have pointed towards non-linear effects. We investigate non-linear effects of both general and specific human capital on nascent venture performance. Based on data from PSED II, we study U-shaped relationships between general education, management, industry, and startup experience and nascent venture progress. We find that while general education, management experience, and startup experience have an inverse U-shaped relationship, industry experience has a U-shaped relationship with venture progress. Our findings have implications for theory and practice.

European Startups and High-Tech Companies: A 5-Point Plan to Nurture Global Euro-Champions