Why Entrepreneurs Often Experience Low, Not High, Levels of Stress The Joint Effects of Selection and Psychological Capital

Entrepreneurs bring an enormous contribution to a country’s economic growth. Developing individual’s interest into new venture creation represents an important asset, especially for less developed countries where entrepreneurial activities are fundamental in enhancing economic growth. The recent economic crisis turned the attention of European policymakers towards entrepreneurship as a driving force for the creation of new job opportunities, regional/national competitiveness and growth. The aim of this article is to verify what relations are between locus of control, need for achievement and entrepreneurial intention of youth, following a cognitive approach and how much entrepreneurial education consolidates entrepreneurial skills and informs the young that entrepreneurship is a career option. To analyse entrepreneurial intentions, locus of control, need for achievement and entrepreneurial education in the context of Romania, this research used a quantitative design based on the answers to the questionnaire conducted during March 2017 to October 2017 on a sample of 270 students from two important Romanian universities. From the methodological point of view, several hypotheses have been developed and tested using multivariate logistic regression estimates, frequency analysis, internal consistency reliability of the constructs and moderating effects. The results illustrate that locus of control, need for achievement and entrepreneurial education proved to be important determinants for venture creation among young students, both independently and under the action of control variables. Also, respondents’ gender had a significant influence on one’s intention of opening a business in the future, with males being more inclined to become entrepreneurs than females.

https://www.mdpi.com/2071-1050/11/4/1192/pdf

Impact of Personality Traits and Entrepreneurship Education on Entrepreneurial Intentions of Business and Engineering Students

Dispositional optimism, entrepreneurial success and exit intentions: The mediating effects of life satisfaction

Following the devastating effects of the recent global economic and financial crisis, both developing and developed countries are desperate to boost economic development and reduce unemployment rates. Consequently, entrepreneurship is being promoted. The resulting enterprises contribute to economic development and create employment opportunities. However, the contribution to economic development can only be realized if the enterprises themselves are growing. Whereas the contribution of both startup capital and personality to entrepreneurial success is well researched, the interaction between the two leading to entrepreneurial success has not been investigated. Using a sample of 384 owners of micro-enterprises from a cross-section of industry sectors in Uganda, The study examine the moderating effect of Big Five personality factors on the relationship between startup capital and entrepreneurial success. The study observes that startup capital, agreeableness and extraversion positively predict entrepreneurial success. Neuroticism, on the other hand, negatively predicts entrepreneurial success. Extraversion is the only factor in the Big Five model that moderates the relationship between startup capital and entrepreneurial success, highlighting the importance of interpersonal skills in microenterprises. The study also discusses implications for research, entrepreneurial education and support in relation to startup capital, specific personality factors.

	Key words: Big Five personality factors, business, entrepreneurial success, micro entrepreneurs, startup capital.

/pdf/does-personality-of-owners-of-micro-enterprises-matter-for-41szvdswh3.pdf

Does personality of owners of micro enterprises matter for the relationship between startup capital and entrepreneurial success

In this paper, we build on the allostatic load model, developed in stress research, to explore the impact of entrepreneurs’ overall justice perceptions on emotional exhaustion and firm performance. Results revealed that the relationship between overall justice and emotional exhaustion was mediated by rumination about work. Further, building on recent work by Baron et al. (Journal of Management, 42(3), 742–768, 2016), which highlighted that company founders have more resources to deal with stress, we hypothesized that the relationship between rumination about work and emotional exhaustion was moderated by whether the entrepreneur was the founder of the venture or not. Results revealed that indeed founders appeared to be immune to the consequences of rumination about work elicited by injustice at work, while non-founders suffered from it. Moreover, emotional exhaustion was related to the monthly firm performance. Implications for research and practice are discussed.

/pdf/the-cost-of-injustice-overall-justice-emotional-exhaustion-3497xgypzz.pdf

The cost of injustice : overall justice, emotional exhaustion, and performance among entrepreneurs: do founders fare better?

Recent economic reforms in China have brought on a wave of entrepreneurship in that country. Still, many entrepreneurs have been unsuccessful in their business endeavors, and the psychological aspects of successful entrepreneurship in China are still largely understudied. Following a comprehensive job analysis, we studied a sample of 193 Chinese new business owners and found entrepreneurs' age, business skills, prior work experience, cognitive ability, and relevant personality dimensions to be predictive of government appointed auditor appraisals as well as the entrepreneurs' own appraisals of their businesses. Culturally relevant Chinese norms are used to explain the findings. The Chinese economy is the fastest growing major economy in the world, with a steady growth rate of almost 1 0% a year, and a working population of close to one billion (Information Office of the State Council of the People's Republic of China, 2004; NBS of China, 2006). Approximately 70% of China's growth in recent years has been seen coming out of its private sector, which can be attributed to several dramatic economic reforms. Specifically, since the late 1970s, the Chinese government has directed a series of initiatives which have taken the country's economy from being centrally controlled to one that is more market oriented. In doing so, China opened itself up to an influx of foreign trade and investment, created a viable banking system, and systematically closed or privatized many of its nationally owned companies. However, these rapid developments also caused China to face a growing need for many more skilled and educated laborers (He, 2005). As a result, in the 1990s, the Chinese government began taking action to proactively increase the quality of its growing private enterprises by launching graduate recruitment programs, vocational training programs, and offering attractive financial incentives to new business starters (Information Office of the State Council of the People's Republic of China, 2004). One of the outcomes of these efforts has been the birth of a new generation of Chinese entrepreneurs, who have the unique opportunity to get vocationally trained as they start their own government sponsored enterprises. Unfortunately, while extremely popular, only a minority of these businesses end up being successful, with approximately 70% closing down within their first five years (Liang, 2004). As a result, government backed entrepreneurial training programs have become increasingly interested in developing assessment and selection methods to more closely control the quality of their new business starters, and to better understand the psychological aspects of successful entrepreneurship in their country. A number of researchers have attempted to map the psychological profile of successful entrepreneurs in Western societies (e.g., Carland, Hoy, Boulton, & Carland, 1984; Liu, 2004), but few have done so in China. And, due to the cultural and economic differences between China and its Western counterparts, there is reason to believe that the two may be different. Therefore, the objective of this research was to explore the psychological aspects of successful entrepreneurship in China. An entrepreneur can be defined as a person who "organizes, manages, and assumes the risks of a business and enterprise" (Merriam-Webster's Online Dictionary, 2006). More specifically, however, entrepreneurs are considered to be the founders, owners and managers of small to medium sized organizations and businesses, who aim to gain profit from their businesses (Allison, Cheli, & Hayes, 2000; Carland et al, 1984). Despite various research findings in both the Western and Chinese literature, one thing seems clear - for an entrepreneur to be successful, a complexity of psychological attributes are required. The following summary describes the major psychological dimensions discussed in the literature and those yielded by our job analysis. …

Psychological Predictors of Successful Entrepreneurship in China: An Empirical Study

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Psychological Predictors of Successful Entrepreneurship in China: An Empirical Study