Motivation, self-efficacy, and risk attitudes among entrepreneurs during transition to a market economy
AbstractIn this research were investigated the three most frequently studied characteristics of entrepreneurs - motivation, self-efficacy, and risk attitudes. We divided the sample of entrepreneurs into two subgroups: opportunity-driven vs. necessity-driven. In agreement with findings of research performed in countries with developed market economies, we found that the need for independence and the need for achievement were of higher importance to the entrepreneurs than to the non-entrepreneurs. However, this was only true of the opportunity-driven subgroup of entrepreneurs, while not of those categorized as necessity-driven. In contrast, the most important motive in the group of non-entrepreneurs and as well as the necessity-driven subgroup of entrepreneurs was job security. In accordance with Knight's claim, we found that opportunity-driven (but not necessity-driven) entrepreneurs revealed higher levels of self-confidence than the group of employees. We did not find support for the claim that entrepreneurs are more risk-prone than wage earners. On the other hand, entrepreneurs (both opportunity- and necessity-driven) reported more everyday risky investment activities than wage earners did. We interpret this observation in terms of the necessity of entrepreneurs for risk-taking, rather than personal preference and liking.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Elsevier in its journal The Journal of Socio-Economics.
Volume (Year): 40 (2011)
Issue (Month): 2 (April)
Contact details of provider:
Web page: http://www.elsevier.com/locate/inca/620175
Entrepreneurship Entrepreneurial Motivation Self-efficacy Risk attitudes;
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Kahneman, Daniel & Tversky, Amos, 1979.
"Prospect Theory: An Analysis of Decision under Risk,"
Econometric Society, vol. 47(2), pages 263-91, March.
- Amos Tversky & Daniel Kahneman, 1979. "Prospect Theory: An Analysis of Decision under Risk," Levine's Working Paper Archive 7656, David K. Levine.
- Birley, Sue & Westhead, Paul, 1994. "A taxonomy of business start-up reasons and their impact on firm growth and size," Journal of Business Venturing, Elsevier, vol. 9(1), pages 7-31, January.
- Gatewood, Elizabeth J. & Shaver, Kelly G. & Gartner, William B., 1995. "A longitudinal study of cognitive factors influencing start-up behaviors and success at venture creation," Journal of Business Venturing, Elsevier, vol. 10(5), pages 371-391, September.
- Begley, Thomas M., 1995. "Using founder status, age of firm, and company growth rate as the basis for distinguishing entrepreneurs from managers of smaller businesses," Journal of Business Venturing, Elsevier, vol. 10(3), pages 249-263, May.
- Carter, Nancy M. & Gartner, William B. & Shaver, Kelly G. & Gatewood, Elizabeth J., 2003. "The career reasons of nascent entrepreneurs," Journal of Business Venturing, Elsevier, vol. 18(1), pages 13-39, January.
- StewartJr., Wayne H. & Watson, Warren E. & Carland, Joann C. & Carland, James W., 1999. "A proclivity for entrepreneurship: A comparison of entrepreneurs, small business owners, and corporate managers," Journal of Business Venturing, Elsevier, vol. 14(2), pages 189-214, March.
- 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.
- Joern H. Block & Marcus Wagner, 2010.
"Necessity and Opportunity Entrepreneurs in Germany: Characteristics and Earning s Differentials,"
Schmalenbach Business Review (sbr),
LMU Munich School of Management, vol. 62(2), pages 154-174, April.
- Block, Joern & Wagner, Marcus, 2006. "Necessity and Opportunity Entrepreneurs in Germany: Characteristics and Earnings Differentials," MPRA Paper 610, University Library of Munich, Germany.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wendy Shamier).
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 references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link 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 profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.