Defining the entrepreneurial capital construct

The purpose of this paper is to show preliminary results from an international research project on intellectual capital and value creation led by Lappeenranta University of Technology (Finland). In the case of this paper, results from Italy will be reported and specifically. The Italian analysis focuses on the entrepreneurial capital (EC) and it analyses how large Italian companies develop and enhance this intangible element. The main research question is: What is the current level of EC in Italian organizations and how does it affect value creation? To this end, the research addressed the different definitions of EC that literature offers. As a secondary step, this paper analysed the variables suggested by previous literature and we proposed an original definition for the research project. The definition is that EC is a stock of competences and the personnels’ attributes related to proactive, risky, and aggressive decision-making and behaviour. This research provides researchers and managers with unique insights into the evolutionary nature of the relationships between distinct IC variables and draws a picture on the state of art of corporate EC in the selected sample. This research highlights and improves companies’ abilities to manage their EC. Furthermore, this research will set the agenda for improving the EC practices of Italian companies and will allow future comparison with firms from other countries that are participating in the same project identifying different pathways to success.