Although effective resource integration is a critical requisite for entrepreneurial success, the literature suggests there are crucial gaps for minority entrepreneurs. We examine how interracial distrust (ID), an indicator of the extent to which minority entrepreneurs distrust other races, is related to internal and social capital. We examine the relationships of such capitals on the willingness to borrow from banks and friends, and explore the link with firm performance. Using a sample of 276 primarily African American entrepreneurs, we find support for most of our hypotheses. We find that ID is negatively associated with external social capital and a willingness to borrow from banks. Surprisingly, we found that ID had a negative effect on internal social capital and a willingness to borrow from friends. We also found that internal and external social capital was positively related to firm performance. We discuss the implications of some of these surprising research findings as well as the policy implications.

尽管有效的资源整合是创业成功的关键，但文献表明少数族裔创业者存在重大差距。我们研究了跨种族不信任 (ID) 是如何与内部和社会资本相关的，它是少数族裔企业家不信任其他种族的程度的指标。我们研究了这些资本与向银行和朋友借款的意愿之间的关系，并探讨了与公司业绩的联系。使用 276 名主要是非裔美国企业家的样本，我们找到了大多数假设的支持。我们发现 ID 与外部社会资本和向银行借款的意愿呈负相关。令人惊讶的是，我们发现 ID 对内部社会资本和向朋友借钱的意愿有负面影响。我们还发现，内部和外部社会资本与公司绩效呈正相关。我们讨论了其中一些令人惊讶的研究结果的含义以及政策含义。