The Impct Of Entrepreneurial Team Human Capital Structure On F Performance

At present,entrepreneurial enthusiasm in public is continuing rising,national policies on entrepreneurship are rolled out,which attracted the attention of many scholars.Early researches are mostly focused on personal characteristics of entrepreneurs.But as time goes on,entrepreneurial activities in the power of individuals alone is more difficult to be successful.Entrepreneurial team as a unit starts to be a mainstream.As a team,its impact is no longer just a sum of the individual qualities of the team members,the structure of the team,and the interaction among team members will be an important factor in entrepreneurial success.The current study of entrepreneurial team human capital on corporate performance has relatively abundant theoretical results.But how the entrepreneurial team human capital affects business performance still has a large space for discussion.Firstly,this paper reviews the human capital theory,endogenous growth theory and related researches.By integrating the existing point of views,we select a measure of human capital structure and propose hypothesis.Then based on the endogenous growth model and upper echelons theory,we deduce a theoretical model using R&D investment as a mediator,and construct regression estimation equation in accordance with three-step test in mediating effect.With 181 technology-intensive start-ups in NEED as a source of data,this paper uses SPSS 22.0 to make regression analysis.The research results are as follows:(1)Mean age of entrepreneurial team and firm performance has a significant negative correlation,and mean industry experience and educational experience have a significant positive correlation with performance,while mean management experience as not significant correlation with corporate performance.(2)Age heterogeneity and educational experience heterogeneity both have significant negative correlation with performance,while the industry experience heterogeneity and management experience heterogeneity have significant positive correlation with performance.(3)R&D investment plays a mediating part in therelationship between entrepreneurial team's human capital integrity and heterogeneity and the firm performance.