We pit assumptions from informational economics against those from human capital theory in the context of repeatedly successful entrepreneurs versus discontinued entrepreneurs launching new ventures. We find that repeat entrepreneurs rely more on knowledge specific to a prospective new venture than discontinued entrepreneurs. In other words, they rely more on specific knowledge than they do on some generalized notion of human capital such as would be acquired through a college education.
Fiet, James O.; Kerrick, Sharon A.; Kosmidou, Vasiliki; and Naskar, Shankar T.
"SPECIFIC KNOWLEDGE AS A KEY TO LAUNCHING SUCCESSFUL NEW VENTURES,"
Frontiers of Entrepreneurship Research: Vol. 35
, Article 3.
Available at: http://digitalknowledge.babson.edu/fer/vol35/iss16/3