The Impact of Human and Social Capital on Entrepreneurs’ Knowledge of Finance Alternatives
基于103家比利时初创企业的调查数据，研究发现商业教育、会计或财务经验以及金融社区网络能拓宽创业者对融资选择的知识，而通用人力资本（如高等教育、行业经验）则几乎无关。
Building upon prior research that demonstrates how the limited knowledge of finance alternatives of entrepreneurs may cause suboptimal finance decisions, this paper examines how entrepreneurs’ human and social capital influence their knowledge of finance alternatives. For this purpose, we use survey data from 103 Belgian start-ups. Results demonstrate that entrepreneurs with a business education and entrepreneurs with experience in accountancy or finance have a broader knowledge of finance alternatives. Having a strong network in the financial community is further positively associated with the knowledge of finance alternatives. However, generic human capital, including higher education, industry experience, and management experience, is almost not related with the knowledge of finance alternatives.