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Self-Efficacy and Entrepreneurial Performance of Start-Ups

  • Self-efficacy reflects the self-belief that one can persistently perform difficult and novel tasks while coping with adversity. As such beliefs reflect how individuals behave, think, and act, they are key for successful entrepreneurial activities. While existing literature mainly analyzes the influence of the task-related construct of entrepreneurial self-efficacy, we take a different perspective and investigate, based on a representative sample of 1,405 German business founders, how the personality characteristic of generalized self-efficacy influences start-up performance as measured by a broad set of business outcomes up to 19 months after business creation. Outcomes include start-up survival and entrepreneurial income, as well as growth-oriented outcomes such as job creation and innovation. We find statistically significant and economically important positive effects of high scores of self-efficacy on start-up survival and entrepreneurial income, which become even stronger when focusing on the growth-oriented outcome ofSelf-efficacy reflects the self-belief that one can persistently perform difficult and novel tasks while coping with adversity. As such beliefs reflect how individuals behave, think, and act, they are key for successful entrepreneurial activities. While existing literature mainly analyzes the influence of the task-related construct of entrepreneurial self-efficacy, we take a different perspective and investigate, based on a representative sample of 1,405 German business founders, how the personality characteristic of generalized self-efficacy influences start-up performance as measured by a broad set of business outcomes up to 19 months after business creation. Outcomes include start-up survival and entrepreneurial income, as well as growth-oriented outcomes such as job creation and innovation. We find statistically significant and economically important positive effects of high scores of self-efficacy on start-up survival and entrepreneurial income, which become even stronger when focusing on the growth-oriented outcome of innovation. Furthermore, we observe that generalized self-efficacy is similarly distributed between female and male business founders, with effects being partly stronger for female entrepreneurs. Our findings are important for policy instruments that are meant to support firm growth by facilitating the design of more target-oriented offers for training, coaching, and entrepreneurial incubators.show moreshow less

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Author details:Marco CaliendoORCiDGND, Alexander KritikosORCiDGND, Daniel RodriguezGND, Claudia Stier
URN:urn:nbn:de:kobv:517-opus4-572527
DOI:https://doi.org/10.25932/publishup-57252
ISSN:2628-653X
Title of parent work (English):CEPA Discussion Papers
Publication series (Volume number):CEPA Discussion Papers (61)
Publication type:Working Paper
Language:English
Date of first publication:2023/01/06
Publication year:2023
Publishing institution:Universität Potsdam
Release date:2023/01/06
Tag:entrepreneurship; firm performance; general self-efficacy; innovation; job creation; survival
Issue:61
Number of pages:41
RVK - Regensburg classification:QP 230, QP 380, CW 4500
Organizational units:Zentrale und wissenschaftliche Einrichtungen / Center for Economic Policy Analysis (CEPA)
Wirtschafts- und Sozialwissenschaftliche Fakultät / Wirtschaftswissenschaften / Fachgruppe Volkswirtschaftslehre
DDC classification:3 Sozialwissenschaften / 33 Wirtschaft / 330 Wirtschaft
JEL classification:D Microeconomics / D9 Intertemporal Choice and Growth / D91 Intertemporal Consumer Choice; Life Cycle Models and Saving
L Industrial Organization / L2 Firm Objectives, Organization, and Behavior / L26 Entrepreneurship
M Business Administration and Business Economics; Marketing; Accounting / M1 Business Administration / M13 New Firms; Startups
Peer review:Nicht referiert
License (German):License LogoKeine öffentliche Lizenz: Unter Urheberrechtsschutz
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