Abstract
The present study aims to explore the role of entrepreneurial self-efficacy (ESE) concept with a combination of an effectuation concept. First, it examined the effect of ESE on resources acquisition in a new venture in an emerging country’s context. Second, it attempted to use effectuation principles, namely, affordable loss, set of means, and precommitment as mediators in a relationship between ESE and resource acquisition in a new venture. A sample of 462 agro-processing entrepreneurs is explicitly surveyed and interviewed. The hierarchical regression and structural equation model were employed to analyze the data. Results showed that an ESE has a significant positive effect on the venture’s resources acquisition ability. Moreover, results showed that the effect of ESE in resource acquisition is manifested through affordable loss, precommitment, and set of means principles. Theoretically, this study extends the knowledge on the mediating role of effectuation principles using ESE in pursuing essential venture functions such as resources acquisition.
Highlights
Entrepreneurial self-efficacy (ESE) refers to the strength of an individual’s belief and its capability of performing the role, which are entrepreneurial related successfully (Boyd & Vozikis, 1994)
To fulfill an earlier argument, we suggest and hypothesize the effect of ESE in resources acquisition transmits via a set of means, precommitment, and affordable loss principles from effectuation theory
The present study reveals the influence of ESE on resources acquisition in an new venture (NV) indicated by the positive and significant relationship, in line with Kickul et al (2009)
Summary
Entrepreneurial self-efficacy (ESE) refers to the strength of an individual’s belief and its capability of performing the role, which are entrepreneurial related successfully (Boyd & Vozikis, 1994). On the contrary, Brush et al (2001) suggested that resources acquisition is a crucial task at the establishment and survival of a new venture (NV) stage. It is a period in which ventures suffer the liability of newness. The literature described ESE in the successful launching of new business (McGee et al, 2009), as well as resources search and investors’ persuasion (Kickul et al, 2009). Kickul et al (2009) revealed two distinct cognitive styles
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