Network or independent business: Entrepreneurs’ human, social and financial capital as determinants of mode of entry

Françoise Bastié 1, 2 Pascal Cussy 1, 2 Anne-Laure Le Nadant 1, 3
1 UNICAEN - Université de Caen Normandie
2 CREM - Centre de recherche en économie et management
3 NIMEC - Normandie Innovation Marché Entreprise Consommation
Abstract : When establishing a new business, entrepreneurs can decide to join a network of independent business partners rather than choose the alternative of independent business ownership. In this study, we use a probit model on a large database to study the human, social, and financial capital of French entrepreneurs who join franchising and comparable forms of networks. Results confirm that initial levels of human and social capital are significant de- terminants of network membership. We also show that an increase in the proportion of the project financed by debt increases the probability of joining a network.
Keywords : network franchising entrepreneurship
Document type :
Journal articles
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https://halshs.archives-ouvertes.fr/halshs-01721907
Contributor : Anne-Laure Le Nadant <>
Submitted on : Friday, March 2, 2018 - 5:01:42 PM
Last modification on : Thursday, February 7, 2019 - 2:20:11 PM

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Françoise Bastié, Pascal Cussy, Anne-Laure Le Nadant. Network or independent business: Entrepreneurs’ human, social and financial capital as determinants of mode of entry. Managerial and Decision Economics, Wiley, 2016, 37, pp.167-181. ⟨10.1002/mde.2709⟩. ⟨halshs-01721907⟩

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