Personal factors, entrepreneurial intention, and entrepreneurial status: A multinational study in three institutional environments

Abstract

Based on the person-entrepreneurship fit perspective, this study examines the role of personal factors, including broad personality traits (openness, extraversion, emotional stability, and conscientiousness), narrow traits (risk-taking propensity, innovativeness, and proactiveness), and personal ability (emotional intelligence) for entrepreneurial intention and status. In this study, two samples are used with entrepreneurial intentions being analyzed among university business students and entrepreneurial status being analyzed by surveying entrepreneurs versus employees. We analyze findings in three different institutional environments (Germany, Russia, and the USA) to also identify potential effects stemming from country context. Therefore, this study offers findings for a (i) comprehensive set of personal factors on (ii) different outcomes in the entrepreneurial process in (iii) different countries. The results suggest that the role of broad personality traits for entrepreneurial outcomes is highly contextual. Also, the role of narrow traits shows some contextuality for which further theorizing is promoted—for instance, while risk-taking propensity seems to be a trait of relevance in all contexts, innovativeness and proactiveness are of different relevance in the different institutional environments. Moreover, the narrow traits that impact entrepreneurial intention and status differ considerably—for instance, innovation is of special relevance for entrepreneurial status, but less important for entrepreneurial intentions. Hence, this study contributes to our understanding not only of individual personal factors contributing to entrepreneurial intention and status but also to understanding which factors overlap for individuals who intend to start a new business and those that do so.