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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
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    References listed on IDEAS

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    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.

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    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

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