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often used as the building blocks of human capital and the empirical research has frequently measured the outcome of the impact of education or experience or education plus experience on innovation. However, as we show below, experience and education leverage innovation in opposite directions, therefore when the relationship between human capital and innovation is empirically tested, the outcomes turn out to be divergent. More specifically, as Table 1 shows, when human capital is articulated purely in terms of educational attainment or where experience is excluded from the calculus of its measurement, the effect of human capital on innovation is invariably positive. In contrast, when human capital is measured purely in experience terms or when experience is a part of its calculus, an analysis of its influence on innovation often yields a negative or non-significant relationship.

Human Capital, its Constituents and Entrepreneurial Innovation: A Multi-Level Modeling of Global Entrepreneurship Monitor Data