Founding Team Entrepreneurial Experience, External Financing and Social Enterprise Performance
研究创始团队的营利与非营利创业经验如何影响社会企业绩效，并考察商业融资和公益融资两种外部资本的调节作用，发现非营利经验提升绩效，且人力资本与外部资本的制度逻辑匹配对绩效有正向影响。
Abstract This paper examines the influence of founding team entrepreneurial experience (for‐profit and non‐profit) on social enterprise performance and also considers the contingent effects of two forms of external financial capital (commercial and philanthropic finance), through the lens of both human capital and institutional logics. Using a global dataset of social enterprises, we find that non‐profit entrepreneurial experience boosts social enterprise performance. Additionally, we find that having a complementary institutional logics (social or commercial) fit between the founding team's human capital and external financial capital is positively associated with social enterprise performance.