Interrelation Between Personality Characteristics and Social Capital in Formation of Entrepreneurial Intention: a Conceptual Framework

Abstract

Purpose: The purpose of this article is to increase theoretical knowledge regarding psychosocial antecedents of entrepreneurial intention by explaining the interrelation between personality characteristics and social capital in the formation of entrepreneurial intention. Theoretical framework: The study is a combination of two theories. The first one is the personality approach(trait approach) of entrepreneurship(Chye Koh, 1996) and the second one is the social capital approach of entrepreneurship (Nahapiet & Ghoshal, 1998) . Design/methodology/approach: The study is based on secondary data collected by a review of the literature from journals in the disciplines of entrepreneurship, business and management, psychology, and sociology. Findings: This article establishes the interrelationships between three major entrepreneurial personalities (Need for Achievement, Locus of control, and Innovativeness) and social capital in forming entrepreneurial intentions by presenting five major propositions which led to building a conceptual framework. Research, Practical & Social implications: The theoretical implication of this study is that the conceptual framework presented in this article may be used to guide empirical investigations on entrepreneurial intention in the future. Originality/value: This study theoretically demonstrates how personality characteristics and social capital interactively form entrepreneurial intention through a conceptual framework.