Does Human Capital Impact Differently to the Opportunity Perception and Business Creation? The Case of Spain

The current study analyzes how Spaniard’s general/specific human capital influences their likelihood of perceiving entrepreneurial opportunities and creating a business. The analysis pivots around the comparison of two processes which are part of entrepreneurship. Data from the Spanish Global Entrepreneurship Monitor—GEM of 2008 are used. Logistic regression analysis is performed to test several theoretical hypotheses. Findings revealed that general human capital such as education is not significant for both perceiving entrepreneurial opportunities and creating a business. However, work experience, managerial business, and entrepreneurial training are positively significant to perceive entrepreneurial opportunities and to create a business. This research reveals that specific types of human capital play different roles in entrepreneurship. The contribution of this paper is to compare how the human capital influences upon two processes of entrepreneurship.