Publisher: University of Calabar

Social Network and Human Capital As Determinants of Entrepreneurial Opportunity Recognition In Nigeria

Aderibigbe, John Kolawole, Abu, Salawu Hassan, Oluwafemi, Odunayo Oluwasanmi
KEYWORDS: Social network, Human capital, Entrepreneurship, Opportunity recognition

ABSTRACT:

The study investigated social network and human capital as determinants of entrepreneurial opportunity recognition in Nigeria. Triangulation method of data collection was adopted while ex-post facto research design was conducted in the study. Hence, purposive and convenience sampling techniques were adopted in sampling four hundred and forty three (443) male and female participants participated in the study. The independent variables are social network and human capital while the dependent variable is entrepreneurial opportunity recognition. A hypothesis was stated and tested. Hence results showed that, there was a joint prediction entrepreneurial opportunity recognition by social network and human capital factors of age, gender, experience and education F (5, 443) = 7.053; R2 = 0.139; p <.05). Similarly, it revealed that age (β = 0.101; t=2.165; p < .05); education (β = 0.113; t=3.287; p < .05); experience (β = 0.094; t=2.151; p < .05) and social network (β = 0.088; t=1.811; p < .05) independently predicted entrepreneurial opportunity recognition. However, results showed that gender did not independently predict entrepreneurial opportunity recognition (β = -0.032; t= -0.438; p > .05). It was concluded that social network and human capital are among the significant predictors of individuals’ entrepreneurial opportunity recognition. Hence, recommendation was made that trainers, educators, government and individuals should be more liberal and combine their personal efforts in their bid to identify successful areas of business opportunities.

The study investigated social network and human capital as determinants of entrepreneurial opportunity
recognition in Nigeria. Triangulation method of data collection was adopted while ex-post facto research
design was conducted in the study. Hence, purposive and convenience sampling techniques were adopted
in sampling four hundred and forty three (443) male and female participants participated in the study. The
independent variables are social network and human capital while the dependent variable is
entrepreneurial opportunity recognition. A hypothesis was stated and tested. Hence results showed that,
there was a joint prediction entrepreneurial opportunity recognition by social network and human capital
factors of age, gender, experience and education F (5, 443) = 7.053; R2 = 0.139; p <.05). Similarly, it
revealed that age (β = 0.101; t=2.165; p < .05); education (β = 0.113; t=3.287; p < .05); experience (β =
0.094; t=2.151; p < .05) and social network (β = 0.088; t=1.811; p < .05) independently predicted
entrepreneurial opportunity recognition. However, results showed that gender did not independently
predict entrepreneurial opportunity recognition (β = -0.032; t= -0.438; p > .05). It was concluded that
social network and human capital are among the significant predictors of individuals’ entrepreneurial
opportunity recognition. Hence, recommendation was made that trainers, educators, government and
individuals should be more liberal and combine their personal efforts in their bid to identify successful
areas of business opportunities.


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