IDEAS home Printed from https://ideas.repec.org/a/eee/jobuve/v18y2022ics2352673422000403.html
   My bibliography  Save this article

The relationship of self-efficacy with entrepreneurial success: A meta-analytic replication and extension

Author

Listed:
  • Glosenberg, Alexander
  • Phillips, Duygu
  • Schaefer, Joseph
  • Pollack, Jeffrey M.
  • Kirkman, Bradley L.
  • McChesney, Jenna
  • Noble, Sean M.
  • Ward, M.K.
  • Foster, Lori L.

Abstract

The replication of meta-analyses is important for developing stable and accurate insights into entrepreneurship. To that end, we replicate key aspects of the meta-analysis conducted by Miao et al. (2017) on the relationships between entrepreneurial self-efficacy (ESE) and financial measures of firm performance and extend their meta-analysis by considering generalized forms of self-efficacy and non-financial measures of entrepreneurial success. We expand the number of included samples from 27 in Miao et al. (2017) to 159. Overall, we find that the relationship between self-efficacy and success is small (ρ = 0.24) using guidelines from Cohen (1988); however, the relationship between ESE and at least partially financial measures of success was moderate, but larger in size (ρ = 0.44 vs. ρ = 0.31), than that estimated by Miao et al. (2017). We find that effect sizes vary widely depending on the type of success variable—with small to practically insignificant relations between self-efficacy and firm size as measured by the number of employees. In addition, we find stronger relations between ESE and success than generalized self-efficacy. Altogether we find that without properly accounting for the influence of the type of success variable, researchers might draw incorrect conclusions regarding the role of self-efficacy in entrepreneurial dynamics. We discuss the methodological and theoretical implications of our findings.

Suggested Citation

  • Glosenberg, Alexander & Phillips, Duygu & Schaefer, Joseph & Pollack, Jeffrey M. & Kirkman, Bradley L. & McChesney, Jenna & Noble, Sean M. & Ward, M.K. & Foster, Lori L., 2022. "The relationship of self-efficacy with entrepreneurial success: A meta-analytic replication and extension," Journal of Business Venturing Insights, Elsevier, vol. 18(C).
    • Handle: RePEc:eee:jobuve:v:18:y:2022:i:c:s2352673422000403
    DOI: 10.1016/j.jbvi.2022.e00342
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S2352673422000403
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.jbvi.2022.e00342?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Zhao, Hao & O'Connor, Gina & Wu, Jihong & Lumpkin, G.T., 2021. "Age and entrepreneurial career success: A review and a meta-analysis," Journal of Business Venturing, Elsevier, vol. 36(1).
    2. Unger, Jens M. & Rauch, Andreas & Frese, Michael & Rosenbusch, Nina, 2011. "Human capital and entrepreneurial success: A meta-analytical review," Journal of Business Venturing, Elsevier, vol. 26(3), pages 341-358, May.
    3. Frese, Michael, 2009. "Towards a Psychology of Entrepreneurship — An Action Theory Perspective," Foundations and Trends(R) in Entrepreneurship, now publishers, vol. 5(6), pages 437-496, November.
    4. Chen, Chao C. & Greene, Patricia Gene & Crick, Ann, 1998. "Does entrepreneurial self-efficacy distinguish entrepreneurs from managers?," Journal of Business Venturing, Elsevier, vol. 13(4), pages 295-316, July.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Erik Lundmark & Anna Krzeminska & Dean A. Shepherd, 2019. "Images of Entrepreneurship: Exploring Root Metaphors and Expanding Upon Them," Entrepreneurship Theory and Practice, , vol. 43(1), pages 138-170, January.
    2. Anca-Otilia Dodescu & Elena-Aurelia Botezat & Alexandru Constăngioară & Ioana-Crina Pop-Cohuţ, 2021. "A Partial Least-Square Mediation Analysis of the Contribution of Cross-Campus Entrepreneurship Education to Students’ Entrepreneurial Intentions," Sustainability, MDPI, vol. 13(16), pages 1-26, August.
    3. Elert, Niklas & Sjöö, Karolin & Wennberg, Karl, 2020. "When Less Is More: Why Limited Entrepreneurship Education May Result in Better Entrepreneurial Outcomes," Working Paper Series 1322, Research Institute of Industrial Economics.
    4. Dou, Xinhua & Zhu, Xiajing & Zhang, Jason Q. & Wang, Jie, 2019. "Outcomes of entrepreneurship education in China: A customer experience management perspective," Journal of Business Research, Elsevier, vol. 103(C), pages 338-347.
    5. Shahid, Pirzada Syed Rizwan, 2023. "Founder's Human Capital and the Entrepreneurial Process Duration," OSF Preprints yf6mg, Center for Open Science.
    6. Maresch, Daniela & Harms, Rainer & Kailer, Norbert & Wimmer-Wurm, Birgit, 2016. "The impact of entrepreneurship education on the entrepreneurial intention of students in science and engineering versus business studies university programs," Technological Forecasting and Social Change, Elsevier, vol. 104(C), pages 172-179.
    7. Huber, Laura Rosendahl & Sloof, Randolph & Van Praag, Mirjam, 2014. "The effect of early entrepreneurship education: Evidence from a field experiment," European Economic Review, Elsevier, vol. 72(C), pages 76-97.
    8. Donosa Dan, 2021. "Entrepreneurial Skills and Human Capital," Risk in Contemporary Economy, "Dunarea de Jos" University of Galati, Faculty of Economics and Business Administration, pages 336-343.
    9. Baron, Robert A. & Mueller, Brandon A. & Wolfe, Marcus T., 2016. "Self-efficacy and entrepreneurs' adoption of unattainable goals: The restraining effects of self-control," Journal of Business Venturing, Elsevier, vol. 31(1), pages 55-71.
    10. Steven A. Brieger & Michael M. Gielnik, 2021. "Understanding the gender gap in immigrant entrepreneurship: a multi-country study of immigrants’ embeddedness in economic, social, and institutional contexts," Small Business Economics, Springer, vol. 56(3), pages 1007-1031, February.
    11. Edwards, John & Miles, Morgan P. & D'Alessandro, Steven & Frost, Mark, 2022. "Linking B2B sales performance to entrepreneurial self-efficacy, entrepreneurial selling actions," Journal of Business Research, Elsevier, vol. 142(C), pages 585-593.
    12. Andrea Fracasso & Kun Jiang, 2022. "The performance of private companies in China before and during the global financial crisis: firms’ characteristics and entrepreneurs’ attributes," Economic Change and Restructuring, Springer, vol. 55(2), pages 803-836, May.
    13. Yu, Wei & Zhu, Fei & Foo, Maw Der & Wiklund, Johan, 2022. "What does not kill you makes you stronger: Entrepreneurs’ childhood adversity, resilience, and career success," Journal of Business Research, Elsevier, vol. 151(C), pages 40-55.
    14. Laura Rosendahl Huber & Randolph Sloof & Mirjam van Praag, 2012. "The Effect of Early Entrepreneurship Education: Evidence from a Randomized Field Experiment," Tinbergen Institute Discussion Papers 12-041/3, Tinbergen Institute.
    15. Klyver, Kim & Steffens, Paul & Lomberg, Carina, 2020. "Having your cake and eating it too? A two-stage model of the impact of employment and parallel job search on hybrid nascent entrepreneurship," Journal of Business Venturing, Elsevier, vol. 35(5).
    16. Chadley R. Hollas & Lisa Chase & David Conner & Lori Dickes & R. David Lamie & Claudia Schmidt & Doolarie Singh-Knights & Lindsay Quella, 2021. "Factors Related to Profitability of Agritourism in the United States: Results from a National Survey of Operators," Sustainability, MDPI, vol. 13(23), pages 1-17, December.
    17. Avnimelech, Gil & Rechter, Eyal, 2023. "How and why accelerators enhance female entrepreneurship," Research Policy, Elsevier, vol. 52(2).
    18. Staniewski, Marcin Waldemar & Awruk, Katarzyna, 2018. "Questionnaire of entrepreneurial success — Report on the initial stage of method construction," Journal of Business Research, Elsevier, vol. 88(C), pages 437-442.
    19. Dirk Dohse & Sascha Walter, 2012. "Knowledge context and entrepreneurial intentions among students," Small Business Economics, Springer, vol. 39(4), pages 877-895, November.
    20. Carsten Bergenholtz & Kim Klyver & Oana Vuculescu, 2023. "Self-Efficacy in Disrupted Environments: COVID-19 as a Natural Experiment," Entrepreneurship Theory and Practice, , vol. 47(3), pages 724-750, May.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:jobuve:v:18:y:2022:i:c:s2352673422000403. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: https://www.journals.elsevier.com/journal-of-business-venturing-insights .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.