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An Exploratory Study of Antecedents of Entrepreneurial Decision-Making Logics: The Role of Self-Efficacy, Optimism, and Perspective Taking

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  • Yuli Zhang
  • Lianguang Cui
  • Guangqi Zhang
  • Saras Sarasvathy
  • Ramesh Anusha

Abstract

This study explores the impacts of psychological factors on entrepreneurs’ preferences for causal and effectual decision-making logics. Data were collected in the USA and China. The research findings suggest that self-efficacy was positively related to the control decision-making logic and the prediction decision-making logic both in the USA and China. Optimism was negatively related to the prediction decision-making logic in the USA while there was no significant relationship between optimism and the prediction decision-making logic in China. We also found that perspective taking was positively related to the prediction decision-making logic both in the USA and China. Meanwhile, perspective taking was positively related to the control decision-making logic in China. Our findings indicate that psychological factors have impacts on entrepreneurs’ preferences for causal and effectual decision-making logics. Our research contributes to extend effectuation by exploring psychological antecedents and demonstrating that effectual logics can also stem from an increase in psychological factors.

Suggested Citation

  • Yuli Zhang & Lianguang Cui & Guangqi Zhang & Saras Sarasvathy & Ramesh Anusha, 2019. "An Exploratory Study of Antecedents of Entrepreneurial Decision-Making Logics: The Role of Self-Efficacy, Optimism, and Perspective Taking," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 55(4), pages 781-794, March.
    • Handle: RePEc:mes:emfitr:v:55:y:2019:i:4:p:781-794
    DOI: 10.1080/1540496X.2018.1478283
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    Cited by:

    1. Amouri, Abdellatif & Festa, Giuseppe & Shams, S.M. Riad & Sakka, Georgia & Rossi, Matteo, 2021. "Technological propensity, financial constraints, and entrepreneurial limits in young entrepreneurs’ social business enterprises: The tunisian experience," Technological Forecasting and Social Change, Elsevier, vol. 173(C).
    2. Samir Marwan Hammami & Tareq Muhammad Alhousary & Ahmad Taha Kahwaji & Syed Ahsan Jamil, 2022. "The status quo of omani female entrepreneurs: a story of multidimensional success factors," Quality & Quantity: International Journal of Methodology, Springer, vol. 56(4), pages 2063-2089, August.
    3. Sipos, Norbert & Lukovszki, Lívia & Rideg, András & Vörös, Zsófia, 2023. "A vállalkozói döntéshozatali logikák kognitív megközelítése [Entrepreneurial effectuation through the lens of cognitive processes]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(5), pages 544-563.
    4. Lindblom, Arto & Lindblom, Taru & Wechtler, Heidi, 2020. "Retail entrepreneurs’ exit intentions: Influence and mediations of personality and job-related factors," Journal of Retailing and Consumer Services, Elsevier, vol. 54(C).
    5. Manolopoulos Dimitris & Salavou Helen & Papadopoulos Andrew & Xenakis Michail, 2024. "Strategic Decision-Making and Performance in Social Enterprises: Process Dimensions and the Influence of Entrepreneurs’ Proactive Personality," Entrepreneurship Research Journal, De Gruyter, vol. 14(2), pages 631-675, April.
    6. Pollack, Jeffrey M. & Cardon, Melissa S. & Rutherford, Matthew W. & Ruggs, Enrica N. & Balachandra, Lakshmi & Baron, Robert A., 2023. "Rationality in the entrepreneurship process: Is being rational actually rational? Introduction to the special issue," Journal of Business Venturing, Elsevier, vol. 38(3).
    7. Sylvia Hubner & Fabian Most & Jochen Wirtz & Christine Auer, 2022. "Narratives in entrepreneurial ecosystems: drivers of effectuation versus causation," Small Business Economics, Springer, vol. 59(1), pages 211-242, June.
    8. Elhem Ben Fatma & Ezzeddine Ben Mohamed & Léo-Paul Dana & Sami Boudabbous, 2021. "Does entrepreneurs’ psychology affect their business venture success? Empirical findings from North Africa," International Entrepreneurship and Management Journal, Springer, vol. 17(2), pages 921-962, June.

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