Abstract
Although numerous studies have explored the factors influencing entrepreneurial activity, there is a lack of a theoretical basis for linking these factors to entrepreneurship behavioral intention. The current study uses the theory of self-regulating attitude to construct a theoretical model of examining the relationship among cognitive bias, entrepreneurial emotion, and entrepreneurship intention. A total of 312 valid samples were collected from college students at a Chinese university. The bootstrapping method was used to test the multi-mediation hypotheses. Our research found that positive entrepreneurial emotion plays a mediating role in the relationship between optimism and entrepreneurship intention, whereas negative entrepreneurial emotion plays a mediating role in the relationship between overconfidence and entrepreneurship intention. These findings underline the importance of a correct understanding of cognitive bias and entrepreneurial emotion in the process of entrepreneurship.
Highlights
Entrepreneurship plays a vital role in economic development, job creation, and social welfare (Poblete et al, 2019; Ravenelle, 2019)
Confirmatory factor analysis was performed on the following constructs: optimism, overconfidence, positive entrepreneurial emotion, negative entrepreneurial emotion, and entrepreneurship intention
Based on the theory of self-regulating attitude, this study established the conceptual framework of evaluation, emotional reaction, and coping response, and explored the mediation role of entrepreneurial emotion in the relationship between cognitive bias and entrepreneurship intention
Summary
Entrepreneurship plays a vital role in economic development, job creation, and social welfare (Poblete et al, 2019; Ravenelle, 2019). Individuals with similar demographic characteristics have large differences in their entrepreneurial behaviors (Obschonka et al, 2012; Amarakoon et al, 2019). What causes these individuals to differ in their intention to start a business?. Entrepreneurial traits and entrepreneurship cognition theory explain the impact of personality traits, achievement needs, control focus, risk-taking, and other factors on entrepreneurial behavior from the perspective of individual entrepreneurs (Obschonka et al, 2012; Neneh, 2019; Perez-Lopez et al, 2019). It is not appropriate to use cognitive mechanisms to predict who will choose to become entrepreneurs without considering the sources of cognition. Perez-Lopez et al (2019) point out that the core of entrepreneurship cognition theory should focus on cognitive characteristics and how they influence individual attitudes, intentions, and behaviors, emphasizing the important role played by contextual factors in entrepreneurship cognition theory
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