THE INFLUENCE OF FOUNDERS’ GENDER AND HUMAN CAPITAL ON NEW VENTURE PERFORMANCE: A STUDY OF GENERAL AND SPECIFIC HUMAN CAPITAL EFFECTS

Document Type

Article

Publication Date

2026

Abstract

Human capital is a critical resource for new ventures; the distinct differences between general and specific human capital in the context of founder gender remain underexplored. Drawing on human capital theory, we investigate how general human capital (GHC) and specific human capital (SHC) influence new venture performance and whether these effects are moderated by founder gender. Informed by feminist perspectives, which highlight gendered barriers, we explore how the benefits of human capital might differ for male and female entrepreneurs. Analysis of longitudinal data from the Growing America Through Entrepreneurship (GATE) study reveals that GHC has a stronger positive association with venture continuation and growth, with this effect amplified for male founders compared to female founders. This disparity underscores the need for a deeper understanding of how gender intersects with human capital in shaping entrepreneurial outcomes. The study contributes to human capital theory and gendered perspectives on entrepreneurship by suggesting the need for tailored support programs that address gender-specific barriers to the utilization of human capital. © World Scientific Publishing Company.

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