IDEAS home Printed from https://ideas.repec.org/a/aes/amfeco/v20y2018i49p771.html
   My bibliography  Save this article

Personal Values and Entrepreneurial Attitude as Intellectual Capital: Impact on Innovation in Small Enterprises

Author

Listed:
  • Edgar A. Sánchez-Báez

    (National University of Asuncion, Paraguay)

  • José Fernández-Serrano

    (Department of Applied Economics I, Universidad de Sevilla, Spain)

  • Isidoro Romero

    (Department of Applied Economics I, Universidad de Sevilla, Spain)

Abstract

This paper analyzes the effects of entrepreneurs’ personal values and their entrepreneurial attitudes, as forms of intellectual capital, on the innovative behavior of small businesses. The influence of personal values is examined through Schwartz's value theory and entrepreneurial attitudes via assessments associated with risk taking and personal autonomy. A model of structural equations using the Partial Least Squares technique was applied to a database composed of 191 small business owners in Paraguay. The results show that personal values of conservation and self-enhancement in the entrepreneur have a direct negative effect on innovation. It is also noted that entrepreneurial attitudes, such as openness to change and self-transcendence, have a mediating role in the positive impact of values on innovation. The article contributes to the literature by showing that some elements of intellectual capital, such as entrepreneurial attitudes and entrepreneurs’ personal values, interact to influence innovation in small businesses.

Suggested Citation

  • Edgar A. Sánchez-Báez & José Fernández-Serrano & Isidoro Romero, 2018. "Personal Values and Entrepreneurial Attitude as Intellectual Capital: Impact on Innovation in Small Enterprises," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 20(49), pages 771-771, August.
    • Handle: RePEc:aes:amfeco:v:20:y:2018:i:49:p:771
    as

    Download full text from publisher

    File URL: http://www.amfiteatrueconomic.ro/temp/Article_2755.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Ringle, Christian M. & Sarstedt, Marko & Schlittgen, Rainer & Taylor, Charles R., 2013. "PLS path modeling and evolutionary segmentation," Journal of Business Research, Elsevier, vol. 66(9), pages 1318-1324.
    2. Romero, Isidoro & Martínez-Román, Juan A., 2012. "Self-employment and innovation. Exploring the determinants of innovative behavior in small businesses," Research Policy, Elsevier, vol. 41(1), pages 178-189.
    3. Milé Terziovski, 2010. "Innovation practice and its performance implications in small and medium enterprises (SMEs) in the manufacturing sector: a resource‐based view," Strategic Management Journal, Wiley Blackwell, vol. 31(8), pages 892-902, August.
    4. Duanxu Wang & Shuai Chen, 2013. "Does intellectual capital matter? High-performance work systems and bilateral innovative capabilities," International Journal of Manpower, Emerald Group Publishing Limited, vol. 34(8), pages 861-879, November.
    5. Isidoro Romero & Juan A. Martínez-Román, 2015. "Determinants of technology adoption in the retail trade industry – the case of SMEs in Spain," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 17(39), pages 646-646, May.
    6. Damodar Suar & Rooplekha Khuntia, 2010. "Influence of Personal Values and Value Congruence on Unethical Practices and Work Behavior," Journal of Business Ethics, Springer, vol. 97(3), pages 443-460, December.
    7. James C. Hayton & Gabriella Cacciotti, 2013. "Is there an entrepreneurial culture? A review of empirical research," Entrepreneurship & Regional Development, Taylor & Francis Journals, vol. 25(9-10), pages 708-731, December.
    8. Duanxu Wang & Shuai Chen, 2013. "Does intellectual capital matter? High-performance work systems and bilateral innovative capabilities," International Journal of Manpower, Emerald Group Publishing, vol. 34(7), pages 861 - 879, November.
    9. María J. Angulo-Guerrero & Salvador Pérez-Moreno & Isabel M. Abad-Guerrero, 2017. "Disparities in entrepreneurial activity and attitude across EU countries," European Planning Studies, Taylor & Francis Journals, vol. 25(4), pages 680-702, April.
    10. repec:eme:ijmpps:v:34:y:2013:i:1:p:861-879 is not listed on IDEAS
    11. Isidoro Romero & Raluca Mariana Petrescu & Alina Elena Balalia (Iosif), 2011. "Universities as Suppliers of Entrepreneurship Education Services. The Cases of The University of Seville and The Academy of Economic Studies in Bucharest," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 13(30), pages 347-361, June.
    12. Nathan Eva & Daniel Prajogo & Brian Cooper, 2017. "The relationship between personal values, organizational formalization and employee work outcomes of compliance and innovation," International Journal of Manpower, Emerald Group Publishing Limited, vol. 38(2), pages 274-287, May.
    13. José Fernández-Serrano & Isidoro Romero, 2013. "Entrepreneurial quality and regional development: Characterizing SME sectors in low income areas," Papers in Regional Science, Wiley Blackwell, vol. 92(3), pages 495-513, August.
    14. Ajzen, Icek, 1991. "The theory of planned behavior," Organizational Behavior and Human Decision Processes, Elsevier, vol. 50(2), pages 179-211, December.
    15. N/A, 2004. "Index for 2004," European Union Politics, , vol. 5(4), pages 511-512, December.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Alfonso Expósito & Amparo Sanchis-Llopis & Juan A. Sanchis-Llopis, 2023. "CEO gender and SMEs innovativeness: evidence for Spanish businesses," International Entrepreneurship and Management Journal, Springer, vol. 19(3), pages 1017-1054, September.
    2. Ainul Mohsein Abdul-Mohsin & Hasliza Abdul Halim & Noor Hazlina Ahmad, 2020. "Determinants of Innovative Performance: The Case of an Emerging Country SMEs," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(4), pages 3-19.
    3. Edgar Antonio Sánchez‐Báez & José Fernández‐Serrano & Isidoro Romero, 2020. "Organizational culture and innovation in small businesses in Paraguay," Regional Science Policy & Practice, Wiley Blackwell, vol. 12(2), pages 233-247, April.

    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. repec:aud:audfin:v:20:y:2018:i:49:p:771 is not listed on IDEAS
    2. Al-Tal Mohammad Jaber Yousef & Emeagwali Okechukwu Lawrence, 2019. "Knowledge-based HR Practices and Innovation in SMEs," Organizacija, Sciendo, vol. 52(1), pages 6-21, February.
    3. Juan A. Martínez-Román & Isidoro Romero, 2017. "Determinants of innovativeness in SMEs: disentangling core innovation and technology adoption capabilities," Review of Managerial Science, Springer, vol. 11(3), pages 543-569, July.
    4. Shuai Qin & Xiaolan Chen, 2023. "The role of entrepreneurship policy and culture in transitional routes from entrepreneurial intention to job creation: a moderated mediation model," SN Business & Economics, Springer, vol. 3(3), pages 1-25, March.
    5. Francesca Maria Cesaroni & Mara Del Baldo & Paola Demartini & Paola Paoloni, 2015. "Entrepreneurial, Renewal and Trust Capital of Italian Firms: Insights from an Empirical Study," International Journal of Management, Knowledge and Learning, International School for Social and Business Studies, Celje, Slovenia, vol. 4(1), pages 69-89.
    6. Edgar Antonio Sánchez‐Báez & José Fernández‐Serrano & Isidoro Romero, 2020. "Organizational culture and innovation in small businesses in Paraguay," Regional Science Policy & Practice, Wiley Blackwell, vol. 12(2), pages 233-247, April.
    7. Yeng Keat & Nasiru, 2015. "Perceived Effective Entrepreneurship Education and Entrepreneurial Intention: The Role of the Perception of University Support and Perceived Creativity Disposition," Journal of Education and Vocational Research, AMH International, vol. 6(2), pages 70-79.
    8. Muhammad Fareed & Mohd Faizal Mohd Isa & Wan Shakizah Wan Mohd Noor, 2017. "Human Resource Professionals’ Effectiveness, Organizational Culture and High Performance Work System Link: Evidence from Pakistan," International Review of Management and Marketing, Econjournals, vol. 7(1), pages 85-94.
    9. Escrig-Tena, Ana B. & Segarra-Ciprés, Mercedes & García-Juan, Beatriz, 2021. "Incremental and radical product innovation capabilities in a quality management context: Exploring the moderating effects of control mechanisms," International Journal of Production Economics, Elsevier, vol. 232(C).
    10. Justin Paul & Philippe Hermel & Archana Srivatava, 2017. "Entrepreneurial intentions—theory and evidence from Asia, America, and Europe," Journal of International Entrepreneurship, Springer, vol. 15(3), pages 324-351, September.
    11. Renata Dana Nitu-Antonie & Emoke-Szidónia Feder, 2015. "The Role of Economic Academic Education on Entrepreneurial Behaviour," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 17(38), pages 261-261, February.
    12. Li, Tianchen, 2018. "Internationalisation and its determinants:A hierarchical approach," International Business Review, Elsevier, vol. 27(4), pages 867-876.
    13. Miguel Ángel Montañés-Del-Río & José Aurelio Medina-Garrido, 2020. "Determinants of the Propensity for Innovation among Entrepreneurs in the Tourism Industry," Sustainability, MDPI, vol. 12(12), pages 1-18, June.
    14. Muralidharan, Etayankara & Pathak, Saurav, 2017. "Informal institutions and international entrepreneurship," International Business Review, Elsevier, vol. 26(2), pages 288-302.
    15. Francisco Díez-Martín & Alicia Blanco-González & Camilo Prado-Román, 2016. "Explaining nation-wide differences in entrepreneurial activity: a legitimacy perspective," International Entrepreneurship and Management Journal, Springer, vol. 12(4), pages 1079-1102, December.
    16. Walter, Sascha G. & Block, Jörn H., 2016. "Outcomes of entrepreneurship education: An institutional perspective," Journal of Business Venturing, Elsevier, vol. 31(2), pages 216-233.
    17. Hino, Hayiel, 2023. "More than just empathy: The influence of moral emotions on boycott participation regarding products sourced from politically contentious regions," International Business Review, Elsevier, vol. 32(1).
    18. Made Aristia Prayudi & Diota Prameswari Vijaya & Luh Putu Ekawati, 2019. "What Drives Msme Performance? The Role Of Gender, Operational Aspects, And Social Environment," Journal of Contemporary Accounting, Master in Accounting Program, Faculty of Business & Economics, Universitas Islam Indonesia, Yogyakarta, Indonesia, vol. 1(2), pages 65-84, May.
    19. Ayesha Noor & Yuserrie Zainuddin & Shrikant Krupasindhu Panigrahi & Faridah binti Taju Rahim, 2020. "Investigating the Relationship among Fit Organization, Organization Commitment and Employee’s Intention to Stay: Malaysian Context," Global Business Review, International Management Institute, vol. 21(1), pages 68-87, February.
    20. Gabriela Boldureanu & Alina Măriuca Ionescu & Ana-Maria Bercu & Maria Viorica Bedrule-Grigoruță & Daniel Boldureanu, 2020. "Entrepreneurship Education through Successful Entrepreneurial Models in Higher Education Institutions," Sustainability, MDPI, vol. 12(3), pages 1-33, February.
    21. Fieras Alfawaire & Tarik Atan, 2021. "The Effect of Strategic Human Resource and Knowledge Management on Sustainable Competitive Advantages at Jordanian Universities: The Mediating Role of Organizational Innovation," Sustainability, MDPI, vol. 13(15), pages 1-35, July.

    More about this item

    Keywords

    personal values; entrepreneurial attitude; small business; innovation.;
    All these keywords.

    JEL classification:

    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • O54 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Latin America; Caribbean

    Statistics

    Access and download statistics

    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:aes:amfeco:v:20:y:2018:i:49:p:771. 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: Valentin Dumitru (email available below). General contact details of provider: https://edirc.repec.org/data/aseeero.html .

    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.