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Self-efficacy and effort in new venture development

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  • Trevelyan, Rose

Abstract

There is a lot of evidence to suggest that entrepreneurial self-efficacy influences intentions and performance, but little research on ESE and actual activities. In this paper the possible dual impact of ESE on task effort is explored. On the one hand self-efficacy boosts motivation and persistence, but on the other hand high confidence in one's abilities can lead to decision-making shortcuts and reduced effort on key tasks (the overconfidence hypothesis). Propositions about the relationship between self-efficacy and effort on different types of tasks (action and judgment tasks) are developed and tested with a small sample of active entrepreneurs. Results support a positive impact of self-efficacy on effort regardless of the type of task, thereby raising questions about the overconfidence hypothesis. Understanding types of confidence (in one's ability, knowledge, and judgment) and effort (cognitive effort) may explain these results. Further research on these topics, and on entrepreneurial experience and the use of heuristics are suggested.

Suggested Citation

  • Trevelyan, Rose, 2011. "Self-efficacy and effort in new venture development," Journal of Management & Organization, Cambridge University Press, vol. 17(1), pages 2-16, January.
    • Handle: RePEc:cup:jomorg:v:17:y:2011:i:01:p:2-16_00
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    Cited by:

    1. Najoua Dali & Sana Harbi, 2016. "The Effect of Risk Perception and Cognitive Biases on the Evaluation of Opportunity in Family and Non-Family Entrepreneurs: The Case of Tunisian Entrepreneurs," Journal of Enterprising Culture (JEC), World Scientific Publishing Co. Pte. Ltd., vol. 24(03), pages 281-312, September.
    2. Laurent Vilanova & Ivana Vitanova, 2020. "Unwrapping opportunity confidence: how do different types of feasibility beliefs affect venture emergence?," Small Business Economics, Springer, vol. 55(1), pages 215-236, June.
    3. Tucker, Reginald & Zuo, Lu & Marino, Louis D. & Lowman, Graham H. & Sleptsov, Alexander, 2021. "ADHD and entrepreneurship: Beyond person-entrepreneurship fit," Journal of Business Venturing Insights, Elsevier, vol. 15(C).
    4. Fernández-Pérez, Virginia & García-Morales, Victor J. & Pullés, Dainelis Cabeza, 2016. "Entrepreneurial decision-making, external social networks and strategic flexibility: The role of CEOs' cognition," European Management Journal, Elsevier, vol. 34(3), pages 296-309.
    5. Diego Norena-Chavez & Ruben Guevara, 2020. "Entrepreneurial Passion and Self-Efficacy as Factors Explaining Innovative Behavior: A Mediation Model," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(3), pages 352-373.
    6. Han, Wei & Luo, Yong (Eddie) & Huang, Qihai & Yang, Jun, 2022. "The role of opportunity feasibility beliefs and bribery on resource acquisition speed and new venture emergence," Journal of Business Research, Elsevier, vol. 149(C), pages 518-527.

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