HUMAN-CAPITAL, SOCIAL CAPITAL, AND FIRM DISSOLUTION

This study examined the effect of human and social capital upon firm d issolution with data ham a population of Dutch accounting firms for th e period 1880-1990. Human capital was captured by firm-level proxies f or firm tenure, industry experience, and graduate education. The socia l capital proxy was professionals' ties to potential clients.. Human a nd social capital strongly predicted firm dissolution, and effects dep ended an their specificity (uniqueness) and nonappropriability (the ow nership status of that capital). Findings suggest an integration of th e resource-based view of the firm and organizational ecology and a con comitant stimulant for future research along these lines.