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Resources, experience, and perseverance in entrepreneurs’ perceived likelihood of success in an emerging economy

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  • Quan Hoang Vuong

    (Université Libre de Bruxelles)

  • Thu Hang Do

    (Vuong & Associates)

  • Thu Trang Vuong

    (Vuong & Associates)

Abstract

This paper introduces new results obtained from a statistical investigation into a 3071-observation data set collected from a Vietnamese nationwide entrepreneurship survey. From established relationships, such factors as preparedness, financial resources, and participation in social networks are confirmed to have significant effects on entrepreneurial decisions. Entrepreneurs, both financially constrained and unconstrained, who have a business plan tend to start their entrepreneurial ventures earlier. Also, financial constraints have a profound impact on the entrepreneurial decisions. When perceiving the likelihood of success to be high, an entrepreneur shows the tendency for prompt action on business ideas. But when seeing the risk of prolonging the waiting time to first revenue, a prospective entrepreneur would be more likely to wait for more favorable conditions despite the vagueness of “favorable.” Additionally, empirical computations indicate that there is a 41.3 % probability that an extant entrepreneur who is generating revenue sees high chance of success. Past work and entrepreneurial experiences also have positive impacts on both the entrepreneurial decisions and perceived chance of success.

Suggested Citation

  • Quan Hoang Vuong & Thu Hang Do & Thu Trang Vuong, 2016. "Resources, experience, and perseverance in entrepreneurs’ perceived likelihood of success in an emerging economy," Journal of Innovation and Entrepreneurship, Springer, vol. 5(1), pages 1-24, December.
    • Handle: RePEc:spr:joiaen:v:5:y:2016:i:1:d:10.1186_s13731-016-0047-7
    DOI: 10.1186/s13731-016-0047-7
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    Cited by:

    1. OMISORE, Segun & Ho, Manh-Toan, 2019. "Corporate Entrepreneurship, Strategy Formulation, and the Performance of the Nigerian Manufacturing Sector," Thesis Commons u39nc, Center for Open Science.
    2. Vuong, Quan-Hoang, 2018. "From Economic Complexities to Computational Entrepreneurship," OSF Preprints kqbmg, Center for Open Science.
    3. Vuong, Quan-Hoang & La, Viet-Phuong & Ho, Manh-Toan & Vuong, Thu-Trang & Hoang, Hanh Phuong, 2019. "What have Vietnamese scholars learned from researching entrepreneurship?: A systematic review," OSF Preprints uhwmn, Center for Open Science.
    4. Magnus Klofsten & Ellen MacEachen & Christian Ståhl, 2021. "New and small firms in a modern working life: how do we make entrepreneurship healthy?," Small Business Economics, Springer, vol. 57(2), pages 755-763, August.
    5. , Aisdl, 2021. "Recipes for a Successful Exit for Clean- and Hard-tech Startups," OSF Preprints k3vey, Center for Open Science.
    6. Quang-Hoi Vu & Thu Trang Vuong & Quan-Hoang Vuong, 2016. "Relationship between past experience, social network participation and creative capacity: Vietnamese entrepreneurship survey," Working Papers CEB 16-032, ULB -- Universite Libre de Bruxelles.
    7. Manh-Tung Ho & Ngoc-Thang B. Le & Hung-Long D. Tran & Quoc-Hung Nguyen & Manh-Ha Pham & Minh-Hoang Ly & Manh-Toan Ho & Minh-Hoang Nguyen & Quan-Hoang Vuong, 2021. "A Systematic and Critical Review on the Research Landscape of Finance in Vietnam from 2008 to 2020," JRFM, MDPI, vol. 14(5), pages 1-24, May.
    8. , Aisdl, 2020. "Entrepreneurial Resilience and Performance of an Organization: A Survey of Small and Medium Enterprises in Asaba, Delta State, Nigeria," OSF Preprints tnve9, Center for Open Science.
    9. Ogbumgbada, Oluchi Vincent, 2023. "Entrepreneurial Resilience and Growth of Small and Medium Enterprises in Port Harcourt," OSF Preprints rs5up, Center for Open Science.
    10. Vuong, Quan-Hoang, 2018. "The Rise of Computational Entrepreneurship," OSF Preprints wq52p, Center for Open Science.
    11. Shathees Baskaran & Rohaida Basiruddin & Siti Zaleha Abdul Rasid & Haliyana Khalid & Tan Sui Hong, 2018. "Resource and Time Availability: An Imperious Stimulus for Entrepreneurial Orientation?," International Journal of Academic Research in Business and Social Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Business and Social Sciences, vol. 8(2), pages 244-261, February.

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    More about this item

    Keywords

    Entrepreneurship; New venture; Transitional economies;
    All these keywords.

    JEL classification:

    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
    • P27 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Performance and Prospects

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