Arbeitspapier
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 growthoriented 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.
- Language
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Englisch
- Bibliographic citation
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Series: IZA Discussion Papers ; No. 15848
- Classification
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Wirtschaft
Entrepreneurship
New Firms; Startups
Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making‡
- Subject
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entrepreneurship
firm performance
general self-efficacy
survival
job creation
innovation
- Event
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Geistige Schöpfung
- (who)
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Caliendo, Marco
Kritikos, Alexander S.
Rodriguez, Daniel
Stier, Claudia
- Event
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Veröffentlichung
- (who)
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Institute of Labor Economics (IZA)
- (where)
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Bonn
- (when)
-
2023
- Handle
- Last update
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10.03.2025, 11:41 AM CET
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Caliendo, Marco
- Kritikos, Alexander S.
- Rodriguez, Daniel
- Stier, Claudia
- Institute of Labor Economics (IZA)
Time of origin
- 2023
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Searching for the entrepreneurial personality: New evidence and avenues for further research
Is Entrepreneurial Success Predictable? An Ex-Ante Analysis of the Character-Based Approach
Is entrepreneurial success predictable? An ex-ante analysis of the character-based approach
Self-efficacy and entrepreneurial performance of start-ups
Business start-ups and the effect of coaching programs
Start-ups by the unemployed: characteristics, survival and direct employment effects
Subsidized Start-Ups out of Unemployment: A Comparison to Regular Business Start-Ups
'I want to, but I also need to': start-ups resulting from opportunity and necessity
I want to, but I also need to: start-ups resulting from opportunity and necessity
Self-efficacy and entrepreneurial performance of start-ups
Self-Efficacy and Entrepreneurial Performance of Start-Ups
Catching up or Lagging Behind? The Long-Term Business and Innovation Potential of Subsidized Start-Ups out of Unemployment
Searching for the entrepreneurial personality: New evidence and avenues for further research
Is Entrepreneurial Success Predictable? An Ex-Ante Analysis of the Character-Based Approach