THE ROLE OF HUMAN CAPITAL IN ENTREPRENEURIAL INNOVATIVENESS: EVIDENCE FROM SERBIA
THE ROLE OF HUMAN CAPITAL IN ENTREPRENEURIAL INNOVATIVENESS: EVIDENCE FROM SERBIA

Summary/Abstract: Many studies in previous years indicate that human capital is a key element in explaining economic activity. Human capital refers to the knowledge, skills and abilities of employees and it is the most important part of the intangible assets of a company. In fact, the phenomenon of human capital is insufficiently examined in the context of entrepreneurial venture. Therefore, the purpose of this paper is to determine the role of human capital in achieving entrepreneurial innovativeness, while the relevant determinants of human capital are formal and non-formal education, lifelong learning, previous experience, and entrepreneurial self-efficacy. So, the main goal of this paper is to reveal the existence and nature of relationship between human capital and innovativeness of entrepreneurial firms in the Republic of Serbia, not older than 5 years. The results of the conducted statistical analyzes indicate that the defined hypotheses are partially confirmed. Actually, some of the human capital’s determinants have a statistically relevant influence on the innovativeness of the observed entrepreneurial firms. The relevance of these results is justified by the fact that the information obtained through research, can be used to implement a more efficient and effective human resources management system in entrepreneurial ventures.

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