Human capital, growth, and competitiveness of Philippine MSMEs: the mediating role of social capital

Abstract

Based on the human capital and social capital theories, this study aims to explore how micro, small and medium enterprises utilize strategic resources to drive growth and competitiveness. Data were collected from 309 micro, small, and medium restaurant owners and managers and two-stage structural equation modelling was conducted to test the hypothesized relationships. The research findings show that the entrepreneur’s/manager’s age and years of work experience are related to firm growth while the entrepreneur’s age is related to firm competitiveness. Accordingly, social capital is directly related to firm growth and competitiveness. Moreover, social capital plays a mediating role in the effect of human capital on firm growth and competitiveness. The study contributes to extant knowledge by extending human capital and social capital theory as well as firm growth and competitiveness literature in the field.

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