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The Role of Spiritual Capital in Innovation and Performance: Evidence from Developing Economies

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  • Mitchell J. Neubert
  • Steven W. Bradley
  • Retno Ardianti
  • Edward M. Simiyu

Abstract

Forms of capital play a significant role in the innovation and performance of start–up firms. Current entrepreneurial research has focused on the role of financial, human, and social forms of capital. We build on a large body of theory and research in sociology and economics, proposing spiritual capital as an additional influence where institutional voids are greater in the development contexts studied. Results from microcredit entrepreneurs in Kenya and Indonesia indicate significant relationships between entrepreneurs’ spiritual capital and business innovation and performance, even after accounting for other forms of capital.

Suggested Citation

  • Mitchell J. Neubert & Steven W. Bradley & Retno Ardianti & Edward M. Simiyu, 2017. "The Role of Spiritual Capital in Innovation and Performance: Evidence from Developing Economies," Entrepreneurship Theory and Practice, , vol. 41(4), pages 621-640, July.
    • Handle: RePEc:sae:entthe:v:41:y:2017:i:4:p:621-640
    DOI: 10.1111/etp.12172
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    3. Alemayehu, Binyam Zewde & Steffens, Paul & Gordon, Scott R., 2023. "The formation and role of religious social capital in driving entrepreneurial action," Journal of Business Venturing Insights, Elsevier, vol. 20(C).
    4. Marcus Dejardin & Brigitte Hoogendoorn & Frank Janssen & Cornelius A. Rietveld & Elco Burg, 2024. "Coupling engagement with analytical rigor: advancing research on religion and entrepreneurship using a mechanism-based approach," Small Business Economics, Springer, vol. 62(4), pages 1273-1284, April.
    5. Aaron H. Anglin & Hana Milanov & Jeremy C. Short, 2023. "Religious Expression and Crowdfunded Microfinance Success: Insights from Role Congruity Theory," Journal of Business Ethics, Springer, vol. 185(2), pages 397-426, June.
    6. Zhiyang Liu & Zuhui Xu & Zhao Zhou & Yong Li, 2019. "Buddhist entrepreneurs and new venture performance: the mediating role of entrepreneurial risk-taking," Small Business Economics, Springer, vol. 52(3), pages 713-727, March.
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    8. Sondos G. Abdelgawad & Shaker A. Zahra, 2020. "Family Firms’ Religious Identity and Strategic Renewal," Journal of Business Ethics, Springer, vol. 163(4), pages 775-787, May.
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    10. Tabe-Ojong, Martin Paul Jr. & Nshakira-Rukundo, Emmanuel, 2021. "Religiosity and parental educational aspirations for children in Kenya," World Development Perspectives, Elsevier, vol. 23(C).

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