The role of social capital in the growth of innovative nascent firms: the moderating effect of incubators

Valérie François 1 Christophe Lafaye Matthieu Belarouci 2
1 LEM - Lille économie management - LEM - UMR 9221
2 CREM - Centre de recherche en économie et management
Abstract : The concept of social capital is increasingly used in entrepreneurship studies to explain the growth of innovative nascent firms. However, empirical findings about the role of social capital (SC) in the growth of young firms have been contradictory to date. We focused on the relational dimension of social capital and differentiated between internal social capital (ISC) and external social capital (ESC). We analysed the perceived utility which is rarely used in SC studies of resources received from the networks of innovative nascent firms in their first six years of existence. We implemented the two-stage least squares (2SLS) analysis to avoid the endogeneity bias. The results indicated that during the early years, nascent firms' external social capital is a decisive resource for growth. This was not the case for internal social capital. We observed that joining an incubator appears to have no impact on either growth or the relationship under study.
Keywords : growth incubator Social capital innovative nascent firm
Document type :
Journal articles
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https://halshs.archives-ouvertes.fr/halshs-02301947
Contributor : Anne l'Azou <>
Submitted on : Monday, September 30, 2019 - 9:47:20 PM
Last modification on : Thursday, October 3, 2019 - 1:07:58 AM

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  • HAL Id : halshs-02301947, version 1

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CREM | COMUE-NORMANDIE | CREM-ORN | UNIV-RENNES1 | CNRS | CER | CTIM | RSCOM | LEM_LILLE | UNIV-RENNES | UNIV-LILLE | UNICAEN

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Valérie François, Christophe Lafaye, Matthieu Belarouci. The role of social capital in the growth of innovative nascent firms: the moderating effect of incubators. International Journal of Entrepreneurship and Innovation Management, Inderscience, In press. ⟨halshs-02301947⟩

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