Abstract
Perceiving business opportunities is an important part of entrepreneurship. This study analyzes how immigrants’ general and specific human capital influences their likelihood of perceiving business opportunities. Analysis focuses on comparison between a group of immigrants and a group of Spanish citizens. Data from the 2008 Global Entrepreneurship Monitor (GEM) was used. Logistic regression was used to analyze data. Results revealed that both immigrants’ and Spanish citizens’ human capital such as education is not significant to perceiving opportunities. Much to the contrary: the impact of specific human capital on perceiving opportunities is in general significant to both groups. This research reveals which specific types of human capital are relevant in the process of perceiving opportunities amongst immigrants. This paper is a novelty because it introduces a theoretical approach to the perception of opportunities within the universe of new businesses established by immigrants in Spain.
Highlights
Looking at entrepreneurship as a process implies recognizing that the perception of Rev. bus. manag., São Paulo, Vol 16, No 52, pp. 416-433, Jul./Sept. 2014 business opportunities is the first step and the milestone of entrepreneurship
This study aims to add to the literature on immigrant entrepreneurship the understanding of how immigrants’ specific and general human capital plays a role in the process of perceiving business opportunities in the host country
We have focused our attention on the reality of Spain referring to immigrant entrepreneurship and the perception of business opportunities, because Spain is a young country in the immigration process (CARRASCO; JIMENO; ORTEGA, 2008; CONDE-RUIZ; GARCIA; NAVARRO, 2008; FERNÁNDEZ; ORTEGA, 2008) and because it is the country with the highest rate of immigrants in the European Union over the last decades (OBLAK FLANDER, 2011)
Summary
Looking at entrepreneurship as a process implies recognizing that the perception of Rev. bus. manag., São Paulo, Vol 16, No 52, pp. 416-433, Jul./Sept. 2014 business opportunities is the first step and the milestone of entrepreneurship. Some prior studies on the perception of business opportunities highlighted the importance of prior knowledge upon the recognition of opportunities (SHANE, 2000), the alertness of individuals (KIRZNER, 1973) and the network-based approach (ARENIUS; MINNITI, 2005), among others (ARENIUS; MINNITI, 2005; SHEPHERD; DETIENNE, 2005; UCBASARAN; WESTHEAD; WRIGHT, 2008). There is a need to better understand how the perception occurs in different settings For this reason, this study aims to add to the literature on immigrant entrepreneurship the understanding of how immigrants’ specific and general human capital plays a role in the process of perceiving business opportunities in the host country. Studying the human capital of immigrants is important because immigrants participate actively in the economy of the country
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