创业者的三维创业资本研究

探讨三维创业资本构成中人力资本、经济资本和社会资本对创业的影响，认为创业者人力资本主要影响创业意愿、创业机会识别以及初创企业的管理，经济资本决定能否为企业建立以及初创企业的发展提供足够的资金支持，社会资本则关系到创业有关的各种资源获取。提出创业是创业者三维创业资本的乘法模型，三者缺一不可。认为创业资本是创业者人力资本、经济资本和社会资本的加法模型，三者之间互为补充并可以相互替代：创业者人力资本的形成需要先期经济资本投入，而且创业者进行人力资本投资的主要目的是提高其人力资本的数量和质量，并最终体现为获取更高的经济资本；创业者的社会资本可以促进人力资本的获取与提升，而创业者的人力资本存量有助于其社会资本的积累；创业者社会资本的形成与维护需要经济资本提供支持的同时，使创业者未来以较低成本获取更多的经济资本成为可能。

Research on Three Dimensional Venture Capital of an Entrepreneur

Firstly we analyze the three-dimensional venture capital, namely human capital, economic capital and social capital as well as their impact on entrepreneurship, and find that an entrepreneur＇ human capital mainly af- fects entrepreneurial intention, entrepreneurial opportunity recognition and management of initial enterprises, eco- nomic capital decides whether an entrepreneur can obtain enough financial support for his enterprise in its early start-ups and development stage, while social capital is necessary for him to acquire resources, and then we propose that entrepreneurship is a multiplicative model of three-dimensional venture capital, either of them is indispensable. Secondly we discuss the acquisition way of venture capital and propose that venture capital is an additive model of human capital, economic capital and social capital, either of them can replace another. The formation of an entre- preneur~s human capital needs advanced economic capital investment, the main purpose of human capital invest- ment is to improve the quantity and quality of human capital, and finally gain higher economic capital. An entre- preneur~s social capital can improve the acquisition and promotion of human capital, while his human capital is helpful to the accumulation of social capital. The formation and maintenance of an entrepreneur＇s social capital needs economic capital to provide support, meanwhile make it possible for the entrepreneur to get more economic capital at lower cost. This research can provide useful reference for entrepreneurs to use the leverage effect of initial resource and to acquire and integrate diversified resources under resource constraint circumstances.