Nascent Entrepreneurs’ Choice to Attend Entrepreneurship Training: Does it Matter?

Nascent entrepreneurs are usually constrained with limited resources and have to decide whether an investment in their human capital (e.g., participation in entrepreneurship training programs) improves their firm performance. Based on the Conservation of Resources theory, we investigate the impact of nascent entrepreneurs' resources on their decision to participate in entrepreneurship training. By employing a Panel Study of Entrepreneurial Dynamics (PSED I) on nascent entrepreneurs, we notice that better-educated and growth-seeking founders are more likely to invest in their human capital through participation in entrepreneurship training; while those who observe the environment to be more uncertain are less likely to participate in entrepreneurship training. In addition, by using the propensity score matching technique, we reveal that participation in entrepreneurship training does not pay off for nascent entrepreneurs. We discuss our findings’ implications for entrepreneurship research and training.