Abstract
In order to analyze the relationship between entrepreneur psychological capital, creative innovation behavior, and enterprise performance based on the actual situation of Chinese enterprises and provide a theoretical basis for the application of entrepreneur psychological capital in enterprise innovation and performance development, in this study, 536 entrepreneurs from 517 enterprises in different fields in Anhui region were selected, and a questionnaire survey on the psychological capital of entrepreneurs, creative innovation behaviors, and corporate performance was conducted. A hypothesis model of the relationship between entrepreneur’s psychological capital, creative innovation behavior, and enterprise performance was constructed. The correlation between entrepreneur’s psychological capital, creative innovation behavior, and enterprise performance and the intermediation of creative innovation behavior were analyzed using multiple-regression model and structural equation model. The results show that there is a significant positive correlation between dimensions of self-efficacy (regression coefficient = 0.682, p = 0.000), toughness (regression coefficient = 0.526, p = 0.000), and enterprise performance; there is a significant positive correlation between the dimensions of optimism (regression coefficient = 0.471, p = 0.003), hope (regression coefficient = 0.590, p = 0.006), and enterprise performance; there is a significant positive correlation between entrepreneurs’ technological innovation behavior (regression coefficient = 0.506, p = 0.000), business innovation behavior (regression coefficient = 0.562, p = 0.000), and enterprise performance; there is a significant positive correlation between entrepreneurial relationship acquisition behavior (regression coefficient = 0.632, p = 0.004) and enterprise performance. Taking entrepreneurs’ creative innovation behavior as the intermediary variable, the authors conclude that the dimensions of entrepreneurs’ self-efficacy, hope, optimism, toughness, and the standardized path coefficient of enterprise performance are significantly reduced; through the analysis of structural equation model, it is found that the fitting index of the model of entrepreneur’s psychological capital, creative innovation behavior, and enterprise performance meets the fitting standard, which shows that both the psychological capital and the creative innovation behavior of entrepreneurs can promote the improvement of enterprise performance. Entrepreneur’s creative innovation behavior plays an intermediary effect in the positive influence of entrepreneur’s psychological capital on enterprise performance.
Highlights
Psychological capital is a psychological resource that can play a positive role in promoting oneself, development, and the growth of enterprise performance, and it is a positive psychological state that individuals show in their work growth (Bouzari and Karatepe, 2020; Gray et al, 2020)
It is found that the dimension of psychological capital toughness of males is significantly higher than that of females (p < 0.05), which is the same as the research results of Digan et al (2019), suggesting that male entrepreneurs are better able to cope with stress and difficulties
This is consistent with the research results of Wang et al (2018), suggesting that all dimensions of entrepreneur psychological capital can promote the improvement of enterprise performance, but the dimensions of self-efficacy and toughness have higher positive influence than the dimensions of hope and optimism
Summary
Psychological capital is a psychological resource that can play a positive role in promoting oneself, development, and the growth of enterprise performance, and it is a positive psychological state that individuals show in their work growth (Bouzari and Karatepe, 2020; Gray et al, 2020). Psychological capital consists of four dimensions, namely, self-efficacy, hope, optimism, and toughness. In recent years, it has become the research object of many scholars in positive organizational behavior (Funken et al, 2020; Ma et al, 2020; Sadq et al, 2020). Through analysis on the online questionnaire and structural equation model completed by 215 science and engineering students in Indonesia, Mahfud et al (2020) found that the relationship between psychological capital dimensions and entrepreneurial attitude orientation and entrepreneurial intention has a positive partial mediating effect. The research on the psychological capital of entrepreneurs is beneficial to the long-term development of enterprises
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