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The role of affect in international opportunity recognition and the formation of international opportunity beliefs

Author

Listed:
  • Eduardo Terán-Yépez

    (University of Almeria (CIMEDES Research Center and ceiA3))

  • David Jiménez-Castillo

    (University of Almeria (CIMEDES Research Center and ceiA3))

  • Manuel Sánchez-Pérez

    (University of Almeria (CIMEDES Research Center and ceiA3))

Abstract

Despite the significance of individual factors in how entrepreneurs recognize international opportunities either by active search or passive discovery, prior research has typically focused on cognitive aspects overlooking affect as a critical driver of this process. Drawing upon broaden-and-build and affect-as-information theories, we explore how courage, hope, fear of failure, and anticipated regret, as stable affective dispositions, can influence entrepreneurs’ active and passive international opportunity recognition (IOR). Also, based on the mental model theory, we examine whether both processes can lead entrepreneurs to differently form opportunity desirability and feasibility beliefs to judge the opportunities recognized in the foreign market. Based on data from a sample of 172 international entrepreneurs, we find that hope and anticipated regret are positively related to active IOR. Hope and courage are positively related to passive IOR, and fear of failure and anticipated regret are negatively related to passive IOR. Moreover, active IOR better informs opportunity desirability and feasibility beliefs than passive IOR, which indeed only predicts feasibility. These findings are original and novel and thus add value to the flourishing literature on the individual-level factors that influence IOR processes and the emerging literature on how international opportunity desirability and feasibility beliefs are formed to evaluate IOs.

Suggested Citation

  • Eduardo Terán-Yépez & David Jiménez-Castillo & Manuel Sánchez-Pérez, 2023. "The role of affect in international opportunity recognition and the formation of international opportunity beliefs," Review of Managerial Science, Springer, vol. 17(3), pages 941-983, April.
    • Handle: RePEc:spr:rvmgts:v:17:y:2023:i:3:d:10.1007_s11846-022-00551-7
    DOI: 10.1007/s11846-022-00551-7
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    More about this item

    Keywords

    International opportunity recognition; International opportunity evaluation; Dispositional affect; International opportunity beliefs; International entrepreneurs;
    All these keywords.

    JEL classification:

    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • M16 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - International Business Administration

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