Abstract
The pursuit of wealth maximization is considered to be the greatest driving force of entrepreneurship. However, this economic rational perspective cannot sufficiently answer why potential or continuous entrepreneurs still choose entrepreneurship or even continuous entrepreneurship in the face of high failure rate and tremendous uncertainty. On the basis of the dynamic process of entrepreneurship and the perspective of positive psychology, this study attempts to interpret the sustained motivation mechanism of entrepreneurs. This study uses multiple cases to investigate the emotion, cognition, and behavior of entrepreneurial process. Through NVivo software and emotion dictionary, more than 27,000 micro blogs (Weibo) of six entrepreneurs were analyzed, and the model of positive emotion in entrepreneurial process was constructed. The findings are as follows. (1) In the process of establishing a business, entrepreneurs can persist in a highly uncertain environment by acquiring positive emotions. That is, the motivation of sustainable entrepreneurship originates from the emotion of happiness and satisfaction that entrepreneurs obtain. (2) Positive emotions affect the formation and expansion of key activities of entrepreneurship through cognition and then persist with entrepreneurship. Specifically, positive emotion promotes the formation of entrepreneurial intention by expanding cognitive structure, intuitive processing, and analytical processing to promote the acquisition of entrepreneurial resources and the expansion of entrepreneurial ability. (3) In the process of entrepreneurship, emotional return is a performance dimension parallel to economic return. This conclusion provides a new perspective towards revealing the entrepreneurial motivation of entrepreneurs in highly ambiguous environments.
Highlights
Entrepreneurship is an important driving force for economic growth and industrial transformation, and for the growth of employment opportunities [1], as well as an important way for individuals to achieve growth, especially for economies in transition, such as China [2]
Positive emotion promotes the formation of entrepreneurial intention by expanding cognitive structure, intuitive processing, and analytical processing to promote the acquisition of entrepreneurial resources and the expansion of entrepreneurial ability
On the basis of the dynamic nature of entrepreneurial process, what drives entrepreneurs to insist on entrepreneurship? By analyzing the entrepreneurs’ emotion model and behavior strategy, this study finds that the entrepreneur obtains positive emotion through entrepreneurial behavior
Summary
Entrepreneurship is an important driving force for economic growth and industrial transformation, and for the growth of employment opportunities [1], as well as an important way for individuals to achieve growth, especially for economies in transition, such as China [2]. Startups are often the main source of economic growth in emerging economies; encouraging entrepreneurship is a strategic policy for the majority of developing countries [3]. According to the Global Entrepreneurship Monitor 2017–2018 report of China, the survival rate of new startups in China is only 5–25%, or even lower; more than half of them fail within three years. Entrepreneurship holds extensive uncertainty and faces high failure rate. Remaining with or forsaking entrepreneurship is a dilemma for new entrepreneurs. An interesting question arises: why do so many new entrepreneurs continue and remain with the front line of entrepreneurship despite the highly uncertain outlook, and the fact that early economic benefits are not evident?
Sign-in/Register to view highlights & summary Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
