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To thine own self be true: Images of self, images of opportunity, and entrepreneurial action

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  • Mitchell, J. Robert
  • Shepherd, Dean A.
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    Abstract

    While research in entrepreneurship continues to increase general understanding of the opportunity-recognition process, questions about its nature nonetheless persist. In this study, we seek to complement recent research that relates "the self" to the opportunity-recognition process by deepening understanding of the self vis-à-vis this process. We do this by drawing on the self-representation literature and the decision-making literature to introduce two distinct types of images of self: images of vulnerability and images of capability. In a study of 1936 decisions about hypothetical entrepreneurial opportunities made by 121 executives of technology firms, we then investigate how both types of images of self affect the images of opportunities that underlie opportunity recognition. Our results indicate that both images of self - vulnerability and capability - impact one's images of opportunity.

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    Bibliographic Info

    Article provided by Elsevier in its journal Journal of Business Venturing.

    Volume (Year): 25 (2010)
    Issue (Month): 1 (January)
    Pages: 138-154

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    Handle: RePEc:eee:jbvent:v:25:y:2010:i:1:p:138-154

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    Web page: http://www.elsevier.com/locate/jbusvent

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    Keywords: Entrepreneurial cognition Pattern recognition Opportunity recognition;

    References

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    1. Moore, Don A., 2004. "Myopic prediction, self-destructive secrecy, and the unexpected benefits of revealing final deadlines in negotiation," Organizational Behavior and Human Decision Processes, Elsevier, Elsevier, vol. 94(2), pages 125-139, July.
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    8. Ozgen, Eren & Baron, Robert A., 2007. "Social sources of information in opportunity recognition: Effects of mentors, industry networks, and professional forums," Journal of Business Venturing, Elsevier, Elsevier, vol. 22(2), pages 174-192, March.
    9. Cooper, Arnold C. & Gimeno-Gascon, F. Javier & Woo, Carolyn Y., 1994. "Initial human and financial capital as predictors of new venture performance," Journal of Business Venturing, Elsevier, Elsevier, vol. 9(5), pages 371-395, September.
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    11. Chen, Chao C. & Greene, Patricia Gene & Crick, Ann, 1998. "Does entrepreneurial self-efficacy distinguish entrepreneurs from managers?," Journal of Business Venturing, Elsevier, Elsevier, vol. 13(4), pages 295-316, July.
    12. Robert A. Baron & Michael D. Ensley, 2006. "Opportunity Recognition as the Detection of Meaningful Patterns: Evidence from Comparisons of Novice and Experienced Entrepreneurs," Management Science, INFORMS, INFORMS, vol. 52(9), pages 1331-1344, September.
    13. Davidsson, Per & Honig, Benson, 2003. "The role of social and human capital among nascent entrepreneurs," Journal of Business Venturing, Elsevier, Elsevier, vol. 18(3), pages 301-331, May.
    14. Paul C. Nutt, 1998. "How Decision Makers Evaluate Alternatives and the Influence of Complexity," Management Science, INFORMS, INFORMS, vol. 44(8), pages 1148-1166, August.
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    Cited by:
    1. Gupta, Vishal K. & Goktan, A. Banu & Gunay, Gonca, 2014. "Gender differences in evaluation of new business opportunity: A stereotype threat perspective," Journal of Business Venturing, Elsevier, Elsevier, vol. 29(2), pages 273-288.
    2. Oliver Falck & Stephan Heblich & Elke Luedemann, 2012. "Identity and entrepreneurship: do school peers shape entrepreneurial intentions?," Small Business Economics, Springer, Springer, vol. 39(1), pages 39-59, July.
    3. James Hayton & Gabriella Cacciotti & Andreas Giazitzoglu & J. Robert Mitchell & Chris Ainge, 2013. "Understanding Fear of Failure in Entrepreneurship: A Cognitive Process Framework," Research Papers, University of Warwick, Warwick Business School, Enterprise Research Centre 0003, University of Warwick, Warwick Business School, Enterprise Research Centre.
    4. Aguinis, Herman & Lawal, Sola O., 2012. "Conducting field experiments using eLancing's natural environment," Journal of Business Venturing, Elsevier, Elsevier, vol. 27(4), pages 493-505.
    5. Elke Lüdemann, 2011. "Schooling and the Formation of Cognitive and Non-cognitive Outcomes," ifo Beiträge zur Wirtschaftsforschung, Ifo Institute for Economic Research at the University of Munich, Ifo Institute for Economic Research at the University of Munich, number 39, 8.
    6. Radosevic, Slavo & Yoruk, Esin, 2013. "Entrepreneurial propensity of innovation systems: Theory, methodology and evidence," Research Policy, Elsevier, Elsevier, vol. 42(5), pages 1015-1038.
    7. Hanisch, David N. & Rau, Sabine B., 2014. "Application of metric conjoint analysis in family business research," Journal of Family Business Strategy, Elsevier, Elsevier, vol. 5(1), pages 72-84.
    8. Wood, Matthew S. & McKelvie, Alexander & Haynie, J. Michael, 2014. "Making it personal: Opportunity individuation and the shaping of opportunity beliefs," Journal of Business Venturing, Elsevier, Elsevier, vol. 29(2), pages 252-272.

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