How psychological determinants influence entrepreneurial success behavior? Evidence from migrant entrepreneurship

The psychological factors that influence entrepreneurial success were not taken into consideration in earlier research on migrant entrepreneurship. The paper addresses this gap by aiming to explore the psychological factors influencing the entrepreneurial success of migrant entrepreneurs. The paper also aims to investigate gender difference in the entrepreneurial success of migrant entrepreneurs. By applying the partial least squares structural equation model (PLS-SEM) under the quantitative research design; the study investigates psychological factors influencing the entrepreneurial success of migrant entrepreneurs with a sample of 412 migrant entrepreneurs. The study has employed PLS multi-group analysis for the exploration of gender difference in the entrepreneurial success. The study has used Holland's theoretical model of sociological career choice and Jovanovic's Job Matching and Turnover Theory to get a deeper insight into the entrepreneurial success of migrant entrepreneurs. The study has revealed that the psychological factors of concern, control, confidence, curiosity, need for achievement, self-efficacy, tolerance for ambiguity, risk-taking propensity, innovation and optimism are positively associated with the entrepreneurial success of migrant entrepreneurs. These factors are the major determinants of entrepreneurial success as well as the sustainability of migrant entrepreneurship. These factors aggregately contribute 54.39% to the variation in entrepreneurial success of migrant entrepreneurs. The study also found gender differences in the influences of concern, control, confidence, self-efficacy, tolerance for ambiguity and risk-taking propensity on the entrepreneurial success of migrant entrepreneurs. Gender differences were not observed in the impacts of curiosity, need for achievement, optimism and innovation on the entrepreneurial success of migrant entrepreneurs. These findings could assist in the practical understanding of the psychological factors that contribute to the sustainability and success of migrant entrepreneurs, as well as their effects on the success of both male and female migrant entrepreneurs.