What you know or who you know? The role of intellectual and social capital in opportunity recognition
研究个人拥有的知识和通过社交网络获取的知识如何影响其识别商业机会的能力，基于2007年西班牙GEM项目数据，发现社会网络中的外部知识获取对机会识别至关重要。
The recognition of business opportunities is the first stage in the entrepreneurial process. This article analyses the effects of individuals’ possession of and access to knowledge on the probability of recognizing good business opportunities in their area of residence. The authors use an eclectic theoretical framework, consisting of intellectual and social capital concepts. In particular, they analyse the role of individuals’ educational level, their perception that they have the right knowledge and skills to start a business, whether they own and manage a firm, their contacts with other entrepreneurs, and whether they have been business angels. The hypotheses proposed here are tested using data collected for the GEM project in Spain in 2007. The results show that individuals’ access to external knowledge through the social networks in which they participate, is fundamental for developing the capacity to recognize new business opportunities.