2022 Fiscal Year Final Research Report
Founder human capital and its change in high-growth start-ups
| Project/Area Number |
20K01618
|
|---|
| Research Category |
Grant-in-Aid for Scientific Research (C)
|
| Allocation Type | Multi-year Fund |
|---|
| Section | 一般 |
|---|
| Review Section |
Basic Section 07040:Economic policy-related
|
|---|
| Research Institution | Chuo University |
|---|
Principal Investigator |
Honjo Yuji 中央大学, 商学部, 教授 (00328030)
|
|---|
| Project Period (FY) |
2020-04-01 – 2023-03-31
|
| Keywords | アントレプレナーシップ / 創業者 / 継続 / 交代 / 所有 / パフォーマンス / 資金調達 / クラウドファンディング |
|---|
| Outline of Final Research Achievements |
This study examined whether founders' human capital, in addition to the turnover of founders, affects post-entry performance using data on start-up firms in Japan. We shed light on changes in human capital in the growth process from founding and found that firms led by founder chief executive officers are more likely to survive than others during the financial crisis period. Moreover, this study examined not only founders themselves but also the relationship among actors in entrepreneurial ecosystems. Specifically, we focused on the relationship between founders and investors, in addition to financial markets, and examined whether this relationship plays a role in firm performance. From the findings of this study, we discussed how to effectively promote entrepreneurial ecosystems for fostering fast-growing start-ups and innovative start-ups.
|
| Free Research Field |
アントレプレナーシップ
|
| Academic Significance and Societal Importance of the Research Achievements |
アントレプレナーシップ・中小企業分野では，従来から創業者の役割が議論されており，創業者の人的資本がスタートアップ企業のパフォーマンスに関係すると考えられている．しかし，創業からの成長過程において，人的資本の変化がスタートアップ企業のパフォーマンスにどのように影響するかについては十分に明らかにされていない．とくに，短期間で著しい成長をとげる急成長スタートアップ，また，技術や製品の開発をめざすハイテク・スタートアップでは，創業以降，経営者や所有の変化が発生しやすい．本研究は，こうした企業の育成を視野に入れ，創業者の人的資本や交代，また，投資家との関係の効果を明らかにする点で，社会的意義は大きい．
|
