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The Self-Efficacy and Risk-Propensity of Entrepreneurs

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  • Kathryn Densberger

    (University of Virginia, Charlottesville, Virginia, USA)

Abstract

This research explores the relationship between entrepreneurs' self-efficacy and risk-propensity. By considering these concepts together, this paper hopes to clarify that relationship as well as somewhat contradictory findings regarding risk-propensity in the existing literature. Specifically, the review of existing literature and data presented herein suggest that any particular propensity for risk that may be exhibited by entrepreneurs is a side-effect of their relatively high self-efficacy. This paper analyzes data from semi-structured, in-person interviews with 49 entrepreneurs in three American cities. Results indicate that high levels of self-efficacy allow entrepreneurs to be comfortable taking risks. Furthermore, it may be that the mixed results of previous investigations into entrepreneurs' propensity for risk may be due in part to the heterogeneity of the samples. That self-efficacy plays a role in entrepreneurship is important because this characteristic can be developed through education and experience and could be targeted through policy initiatives.

Suggested Citation

  • Kathryn Densberger, 2014. "The Self-Efficacy and Risk-Propensity of Entrepreneurs," Journal of Enterprising Culture (JEC), World Scientific Publishing Co. Pte. Ltd., vol. 22(04), pages 437-462.
    • Handle: RePEc:wsi:jecxxx:v:22:y:2014:i:04:n:s0218495814500186
    DOI: 10.1142/S0218495814500186
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    Citations

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    Cited by:

    1. Milena Gojny-Zbierowska & Przemysław Zbierowski, 2021. "Improvisation as Responsible Innovation in Organizations," Sustainability, MDPI, vol. 13(4), pages 1-20, February.
    2. Krzysztof Zięba & Jakub Golik, 2018. "Testing Students’ Entrepreneurial Self-Efficacy as an Early Predictor of Entrepreneurial Activities. Evidence From the SEAS Project," Journal of Entrepreneurship, Management and Innovation, Fundacja Upowszechniająca Wiedzę i Naukę "Cognitione", vol. 14(1), pages 91-108.
    3. Smith, Lisa & Rees, Patricia & Murray, Noel, 2016. "Turning entrepreneurs into intrapreneurs: Thomas Cook, a case-study," Tourism Management, Elsevier, vol. 56(C), pages 191-204.
    4. Cai Li & Majid Murad & Hassnain Javed & Saba Fazal Firdousi & Sheikh Farhan Ashraf, 2021. "An empirical investigation on the relationship between individual traits and entrepreneurial business intentions: measuring a mediation effect of entrepreneurial self-efficacy through partial least sq," Journal of Global Entrepreneurship Research, Springer;UNESCO Chair in Entrepreneurship, vol. 11(1), pages 533-549, December.
    5. Sari Pekkala Kerr & William R. Kerr & Tina Xu, 2017. "Personality Traits of Entrepreneurs: A Review of Recent Literature," NBER Working Papers 24097, National Bureau of Economic Research, Inc.

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