Description
In this detailed outline relating to advances in the psychology of entrepreneurship.
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Conference report
Advances in the
Psychology of Entrepreneurship
29 June – 1 July, 2012
University of Sheffield, Management School, Sheffield, UK.
Authors:
Marjan Gorgievski, Erasmus University Rotterdam
Ute Stephan, Sheffield University
Sponsors
Werkgemeenschap
Arbeids? en Organisatie Psychologie
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Rationale and aim
This small group meeting brought together researchers working in the field of work, organisational,
and vocational psychology and entrepreneurship, in order to stimulate theoretical developments and
cross cultural collaboration. Understanding psychological processes explaining entrepreneurial career
choice and entrepreneurial success in its broadest sense is highly relevant. First, entrepreneurs are
important for our society. Entrepreneurship contributes to employment creation, productivity and
economic growth. At the same time, entrepreneurship has the potential to deliver innovative
solutions to social and environmental problems. The numerous programmes for entrepreneurs and
SMEs launched by the European Commission are recognition of entrepreneurship’s importance for
Europe. Second, for the individual entrepreneur, entrepreneurship seems to be a highly satisfying
career choice, one that arguably incorporates many aspects characterizing ongoing changes in the
world of work, such as increased uncertainty, responsibility, time?pressure and insecurity. Thus,
insights into the psychology of entrepreneurship can help work and organisational psychologists
understand the effects of the ongoing changes in the world of work. Finally, entrepreneurs as
founders, owners and managers of their organisations shape not only fundamentally the main goals
of their business, its organisational culture and core business practices; they also shape the work
environment for their employees and thereby can have profound influences on their employees well?
being and performance. The psychology of entrepreneurship is a relatively young research field that
has much to offer to the understanding of successful entrepreneurship in all its facets (economic,
social, personal and societal). It has made some progress in the past couple of decades, yet
opportunities to contribute are vast as a lot remains unclear. This small group meeting aimed to
contribute to the development of the field through critically reflecting on papers representing
current state?of?the?art research and key note presentations outlining strengths and weaknesses of
current psychology of entrepreneurship research as well as setting directions for future research.
Format
The format of the meeting was a small scale workshop taking place over three days beginning Friday
morning and lasting through Sunday noon. Twenty?five scholars hailing form a wide range of
countries participated. We received a total of 25 high quality submissions, which were independently
reviewed against methodological and theoretical criteria. Subsequently, fourteen papers were
selected for presentation at the Small Group Meeting (SGM). Each paper presentation during the
SGM lasted twenty minutes, was then discussed by a pre?allocated discussant for another five
minutes, followed by a ten minute discussion with all participants. We had asked participants to
insert open questions in their research with the final papers submitted to the meeting. These open
questions helped discussants and participants to provide useful feedback. The contributions for the
meeting were clustered around five topic streams, which we created based on the submission to the
meeting:
1) Advancing research on entrepreneurial careers: Entrepreneurship as a Career Choice;
2) Cognitions and decisions;
3) Leadership and entrepreneurship;
4) Actions and self?regulation;
5) Performance in family firms.
Six keynote presentations were planned. Unfortunately two keynotes were cancelled last minute
(one on the day of the presentation) due to personal circumstances. Nevertheless, the SGM
participants saw excellent keynote presentations by four senior experts (Prof. Dr. John Arnold, Prof.
Dr. Per Davidsson, Prof. Dr. Christian Korunka and Prof. Dr. Lorraine Uhlaner). Challenges in
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publishing research on psychology of entrepreneurship were discussed during an additional “meet?
the?editors” session with (field, associate, consulting) editors of leading psychology (Human
Relations, Journal of Vocational Behavior, Journal of Occupational and Organizational Psychology,
Organizational Psychology Review) and entrepreneurship journals (Journal of Business Venturing,
Small Business Economics). At the end of each day, the presentations of that day were discussed
from a practitioners’ perspective and two Ph.D. students shared their impressions from an early
career perspective.
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Program and Abstracts
DAY 1 ? Friday, June 29th
Welcome to the EAWOP Small Group Meeting
Dr Marjan Gorgievski & Dr Ute Stephan
Background and aims of the meeting
Opening KEYNOTE “Design & Methods in Entrepreneurship: Challenges and Opportunities for
Psychology”
Professor Per Davidsson, QUT Business School, Brisbane Australia
Entrepreneurship is a fascinating phenomenon of immense societal importance. As representatives
of a mature discipline, scholars with a solid background and anchoring in psychology can make many
valuable contributions to our understanding of this phenomenon, drawing on theories, methods and
research traditions that have already been established in various branches of psychology. However,
in order to maximize these contributions, psychologists who migrate into this area would do well to
try to systematically avoid (repeating) common mistakes in prior entrepreneurship research, and to
identify and concentrate on those areas where psychologists arguably have the greatest comparative
advantage for developing knowledge about entrepreneurship. This keynote address builds upon my –
an amateur, “semi?psychologists” – personal reflections about these challenges and opportunities for
psychologists interested in entrepreneurship. Among traps to avoid I will discuss a) ambiguity and
inconsistency in the definition of entrepreneurship; b) overfocusing on person?based explanations
“fundamental attribution error”), and c) the use of overly heterogeneous samples. Among
opportunities I will address drawing on disciplinary expertise in i) experimental and ii) multi?level
designs, as well as in iii) the operationalization of theoretical constructs. Further, psychological
research traditions may usefully feed into investigations beyond one person?one venture designs by
addressing issues of iv) entrepreneurial teams (i.e., small groups) and v) entrepreneurial careers. On
the individual level, psychologists are well equipped to investigate vi) non?financial, individual
outcomes of entrepreneurship. Finally, recent research has ventured into the genetic drivers of
entrepreneurial behavior. Here, psychologists can act as vii) competent critics as well as viii) help
bridging the gap between genetic bases and overt behaviors by identifying psychological moderators
and mediators.
KEYNOTE “Entrepreneurship and Career Theory”
Professor John Arnold, University of Sheffield, UK
Much career theorizing over the last fifteen years or so has emphasized the need for individuals to
take charge of their own development, and avoid relying on organizations to do it for them (as if that
was ever a good idea!). Some of the states of mind and behavioural strategies involved in career self?
management are described in terms that are reminiscent of entrepreneurship and/or autonomy and
independence. In this presentation I will review some of this theory and research, and invite
participants to reflect with me on its utility for understanding the work lives and achievements of
entrepreneurs.
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Track 1: Entrepreneurship as a Career Choice
PAPER: An entrepreneurial Big Five profile matters, but why?
Authors: Martin Obschonka, University of Jena, Germany, M. Stuetzer, QUT Business School,
Brisbane, Australia, & M. Goethner, University of Jena, Germany
Discussant: Sebastiaan Fisher
There is convincing evidence that a specific constellation of Big Five personality traits within the
person relates to entrepreneurship. According to this research, an entrepreneurial personality profile
can be assessed by the goodness?of?fit between the individual Big Five profile and an entrepreneurial
reference type (high values in extraversion, conscientiousness, and openness, and low values in
agreeableness and neuroticism). It is less clear, however, why such a trait profile matters for
entrepreneurial activity. In this study, we apply the Giessen?Amsterdam model to examine pathways
through which an entrepreneurial Big Five profile might affect entrepreneurial outcomes. The model
states that the Big Five traits should exert an effect through more specific traits, such as self?efficacy,
locus of control, and risk?taking. In the present study, we examined these specific traits as mediators
between the entrepreneurial Big Five profile on the one side, and entrepreneurial intentions,
behavior, and success on the other. We analyzed longitudinal data from the German Socio?Economic
Panel (GSOEP) and the Thuringian Founder Study (TFS). In the GSOEP data, we found the positive
relationship between an entrepreneurial Big Five profile and self?employment status to be mediated
by risk propensity and locus of control. The potential founder survey of the TFS revealed that the
positive relationship between the trait profile and founding intentions is mediated by entrepreneurial
self?efficacy. Furthermore, the Big Five profile showed an indirect effect on actual founding behavior
18 via entrepreneurial self?efficacy. Finally, in a sample of nascent entrepreneurs, we found the Big
Five profile to positively predict generalized self?efficacy, which in turn predicted the progress of the
start?up projects in the venture creation process, but only for those nascent entrepreneurs who had
prior work experience in small and young firms. In sum, the results indicate that an entrepreneurial
Big Five profile gets expressed via more specific entrepreneurial traits.
PAPER: Who Wants to Be an Entrepreneur? The Relationship between Vocational Interests and
Individual Differences in Entrepreneurship
Authors: Gorkan Ahmetoglu, Goldsmiths, University of London, UK, P.I.L. Almeida, UCL, London, UK &
T. Chamorro?Premuzic, UCL, London, UK
Discussant: Michiel Crommelinck
Psychology has made a major contribution to the field of entrepreneurship, with individual
differences being at the forefront of research for decades. Although a number of domains (including
personality, cognitive ability, and motivation) have been examined in the field, very few research
efforts have focused on interests. Yet several authors have suggested that interests are a
complementary, and even a necessary, component in the individual differences structure.
Accordingly, this study attempts to fill this void by examining the relationship between
entrepreneurship and vocational interests. Specifically, it investigates whether there is an association
between vocational interests (as measured by Holland’s RIASEC model), entrepreneurial potential (as
assessed by META; Ahmetoglu, Leutner, & Chamorro?Premuzic, 2011) and entrepreneurial activity,
both within and outside organisations. The analysis of the results reveals predictable associations
between Holland's taxonomy of vocational interests and entrepreneurial outcomes. Furthermore,
incremental validity tests show that vocational interests (RIASEC) predict entrepreneurial activity
even when entrepreneurial potential (META) is taken into account. However, the results also reveal
that META is by far the strongest and most consistent predictor of entrepreneurial activity,
accounting for most of the variance in these outcomes. Findings are discussed in terms of their
implication for selection and vocational guidance.
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PAPER: The influence of individual values on entrepreneurial intention
Authors: Juan Antonio Moriano, UNED Madrid, Spain, F. Linan, Universidad de Sevilla. Spain & I. Jaen,
Universidad de Sevilla, Spain
Discussant: Deirdre O’Shea
From a cognitive perspective, the theory states that intentionS are the best predictors of any planned
behavior, including entrepreneurship. Understanding factors that may influence entrepreneurial
intentions gives the possibility of better understanding entrepreneurship at its very beginning.
Nevertheless, the identification of individual values and the effect they exert on the decision to
become an entrepreneur is clearly an under?researched area of study. The study examines the value?
intention link in entrepreneurship on a sample of 3415 Spanish university graduates. Schwartz’s
Portrait Value Questionnaire (PVQ) is used to measure values. Results confirm the positive effects of
openness to change and self?enhancement values dimensions on the development of
entrepreneurial intention in Spain.
PAPER: Psychosocial characterization of social entrepreneurs: A comparative study in Antofagasta,
Chile
Authors: Mariana Bargsted Aravena, Universidad Católica del Norte, Chile
Discussant: Gorkan Ahmetoglu
Social entrepreneurship is a topic of growing interest that demands empirical studies on different
aspects. It is any kind of project, services and goods oriented to create social value. This is an
exploratory study aimed to identify a distinctive psychosocial profile of social entrepreneurs in
Antofagasta, Chile. We conducted a factorial study in which we distinguished social entrepreneurs,
volunteers, philanthropists and commercial entrepreneurs in several psychosocial variables: personal
values, entrepreneurship orientation (proactivity, entrepreneurial self?efficacy, risk tendency, and
control locus), social motivation, empathy orientation, and career identity. Our work hypothesis was
that social entrepreneurs present a particular profile related to values of benevolence and self?
direction, high entrepreneurship orientation, hetero?centered empathy, a social motive similar to
altruism, and career identity based on service and entrepreneurship. We found evidence to maintain
our hypothesis and, therefore, it was possible to characterize social entrepreneurs.
TRACK2: Cognition and Decisions
PAPER: Business opportunity recognition and decision to launch a venture
Authors: Susana C. Santos & Antonio Caetano, ISCTE?IUL, Instituto Universitário de Lisboa, Portugal
Discussant: Dominika Dej
The present research aims to present a bi?dimensional model of the processes of business
opportunity recognition and decision to launch a venture. Integrating evidence from the prototype
literature, their organization of clusters based on meaning similarity, and on business opportunity
recognition as pattern recognition theory (Baron, 2006; Baron and Ensley 2006), we suggest that the
prototypical features of the business opportunity and decision to launch a venture will be organized
in subgroups with similar content. We develop four theoretical propositions and two hypotheses. We
conducted a study on an entrepreneur sample (n = 173). The questionnaire on the prototype
measures for business opportunity and decision to launch a venture was adapted from Baron and
Ensley (2006). This research is a step forward and showed that (a) the business opportunity
prototype includes two dimensions: business opportunity utility and business opportunity
distinctiveness; and (b) the decision to launch a venture includes two dimensions: exogenous
decision to launch a venture and endogenous decision to launch a venture. The importance of
business opportunity recognition and decision to launch a venture on the entrepreneurial process is
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stressed by the relevance that both have on the process. They refer, respectively, to the first and
second stages of the entrepreneurial process, and consequently, there is no entrepreneurship
without business opportunity recognition and decision to launch a venture. It is important to focus
on understanding these two stages, in order to develop better training and to improve successful
business opportunities ideas and decisions to launch a venture.
PAPER: Beyond form and substance: how the colors used in business plans influence venture
investment decisions
Authors: Richard Chan, Peking University, HSBC School of Business, China & H.D. Park, Drexel
University & University of Missouri – Kansas City, USA
Discussant: David Achtzehn
Decision makers consciously process and interpret informational cues, but they are also non?
consciously influenced by irrelevant, peripheral cues. We explore how the use of color, a prominent
peripheral cue, in business planning documents influences new venture investment decisions. Blue
and red are often associated with positive and negative outcomes respectively. We predict that the
greater use of red in business plans would reduce the amounts invested in new ventures, while more
blue would increase it. Using a major business plan competition as our empirical setting, we found
that the use of red in business plans was associated with lower amounts invested in new ventures.
However, we failed to find a positive relationship between the use of blue in business plans and
levels of investment. Our study illustrates that in addition to informational cues, peripheral cues can
also influence the initial selection and evaluation of new venture investment opportunities.
KEYNOTE: “Group dynamics and entrepreneurship: Applying social/organization psychology to the
study of owning groups”
Professor Lorraine Uhlaner, EDHEC Business School, France
Whereas the entrepreneur is often viewed as the ‘lone ranger, ’ much entrepreneurial activity takes
place in groups—Groups of owners (both family and nonfamily) make up nearly half of all established
private firms. Yet, with the exception of the family business literature, entrepreneurship research
typically refers to the single “owner?manager” or “entrepreneur” (in the singular) as the target of
study. The field of psychology, more generally, almost completely ignores owners. However, study of
owning groups provides a great opportunity for applying a variety of social and organization
psychology concepts and theories, including organizational commitment, organizational citizenship
behavior, pro?social behavior, stewardship theory, social identity theory, and research on teams. In
my presentation, I will present some examples of such applications to current research topics
including psychological ownership, commitment (both family and ownership), responsible ownership
behavior, family governance practices, and relational governance.
Reflections from Practitioner Perspective
Josette Dijkhuizen, Entrepreneur, The Netherlands
Reflection from an Early Career Perspective
Sylvia Acquah & Sarah Agahi, Doctoral Researchers
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DAY 2 ? Saturday, June 30th
TRACK 3: Leadership and entrepreneurship
PAPER: Linking leader personal initiative to innovation project success: The role of
entrepreneurial strategic orientation for business innovation projects
Authors: Sebastian Fisher, Leuphana University, Germany
Discussant: Mariola Laguna
As put forward in the call for papers for the EAWOP small group meeting, entrepreneurs as
founders, owners and managers of their organizations shape the core business practices, and by
that the work environment for their employees. In this paper, we want to explore how
entrepreneurs’ personal initiative affects the success in business innovation projects, done by
employees. We suggest that the entrepreneurial, strategic posture of the business mediates the
relationship, because it suggests which actions are appropriate in innovation projects. Hypotheses
were tested in a sample of 39 entrepreneurial businesses in Germany, including data from 61
entrepreneurs and 563 employees. Results indicate that personal initiative predicts
entrepreneurial orientation facets of innovativeness, risk taking, and proactiveness positively.
Additionally, the entrepreneurial orientation facets of innovativeness, autonomy and competitive
aggressiveness influence success in innovation projects positively, whereas risk taking influences
success in innovation projects negatively. Interestingly, indirect effects via competitive
aggressiveness and risk taking are negative, indicating that success in innovation projects would
benefit from higher competitive aggressiveness and less risk taking of entrepreneurs. Last,
personal initiative predicts success in innovation projects after entrepreneurial orientation is
controlled for. In sum, this project brings together literature on active performance and
entrepreneurial success with literature on predictors for team innovation success. We are able to
provide entrepreneurs with insights on how to lead their business, and we advance theoretical
understanding on multilevel influences in entrepreneurial, small businesses.
PAPER: When you are good to mama, mama's good to you: Exploring employment relationships
in high?tech start?ups using the psychological contract
Authors: David Achtzehn, Loughborough University, UK
Discussant: Susana Santos
Human capital in new ventures is believed to be a critical success factor, yet the literature on the
working environment in entrepreneurial firms remains surprisingly scarce. This article explores the
employment relations in young, growth orientated, high?tech firms in Berlin and London, paying
particular attention to the relational and often intrinsically motivated nature of the relationship.
The paper proposes the psychological contract as an appropriate analytical framework to gain a
deeper inside into the motivations and expectations of employees working in innovative start?ups.
The results stress the unique context of the entrepreneur as an employer, the short career capital
window they face and the distinct management strategies they embrace. Often a parental
management style similar to the philosophy of “Queen Latifah” in the musical Chicago is adopted
as a motivation as well as control mechanism. The findings also suggest that a “fun culture” and an
opportunity for personal growth frequently compensate employees for a lack of guidance and
professionalism. The article helps to inform prospective employees about the benefits and
challenges of joining a start?up and encourages entrepreneurs to further tailor their management
and compensation strategies. In addition, the article is an original attempt to enhance the theory
of psychological contracts by linking it to the field of entrepreneurship for the first time.
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PAPER: How do entrepreneurs' emotional intelligence and transformational leadership
orientation impact new ventures' growth?
Authors: Ronit Yitshaki, Bar?Ilan University, Israel
Discussant: Juan Antonio Moriano
This study examines the interrelations between entrepreneurs’ emotional intelligence (EI),
transformational leadership behaviors and growth. Based on data collected from 99
entrepreneurial firms, the findings show that entrepreneurs’ EI has an indirect impact on growth.
Entrepreneurs’ EI is positively related to entrepreneurs’ intellectual stimulation and individualized
consideration and entrepreneurs’ charismatic?inspirational behaviors. However, only
entrepreneurs’ charismatic?inspirational behaviors impacts growth. The findings extend the
literature by suggesting that entrepreneurs’ EI is a “latent” emotional capability that impacts their
transformational leadership orientation. It is also suggested that by employing charismatic?
inspirational behaviors, entrepreneurs’ demonstrate their ability to enlist and manage followers’
emotions and hence influence growth.
PAPER: Entrepreneurs' social skills moderating effects on the relationship between their
employees' psychological job demands and psychological health: A multi?level study.
Authors: Dominika Dej, Dresden University of Technology, Germany, M. Zaba, Dresden University
of Technology, Germany, M. Shemla, Dresden University of Technology, Germany, & U. Stephan,
University of Sheffield, UK
Discussant: Anna Jenkins
This study examines the influence of entrepreneurs’ personal characteristics on the relationship
between job demands and employees’ work outcomes. The participants were 34 entrepreneurs
and 384 employees. Using a hierarchical linear modeling (HLM) approach, we found a negative
relationship between psychological job demands (level 1) and psychological health (level 1). We
found that this relationship was moderated by entrepreneurs’ social skills (level 2) and mediated
by employee perceived leader social support. These finding suggest that social skills, which have
been shown to impact entrepreneurial success, seem also to be crucial for employees’ work
outcomes. Interventions targeting entrepreneurs’ social skills may contribute to employee well?
being in small and medium?sized companies.
Track 4: Entrepreneurs' Action? & Self?Regulation
PAPER: Feedback seeking in times of uncertainty: a multi wave study among nascent
entrepreneurs
Authors: Michiel Crommelinck, Ghent University, Belgium & F. Anseel, Radboud University
Nijmegen, The Netherlands
Discussant: Richard Chan
Uncertainty is fundamental to entrepreneurship. In this paper we take a first step towards
understanding the proactive tactics used by entrepreneurs to manage uncertainty as we examine
how nascent entrepreneurs’ feedback?seeking behaviors impact uncertainty over time. In
addition, we investigate characteristics of entrepreneurs, the feedback received, and the business
idea as moderators. A longitudinal data collection project with four measurement waves is
currently being conducted using a sample of 500 nascent entrepreneurs in Belgium.
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PAPER: Affect and goal engagement in entrepreneurs: moderating role of positive orientation
Authors: Mariola Laguna, The John Paul II Catholic University of Lublin, Poland, G. Alessandri,
Sapienza University of Rome, Italy & G. Caprara, Sapienza” University of Rome, Italy
Discussant: Mariana Bargsted
The paper aims to explain the mechanisms of entrepreneurs’ engagement in entrepreneurial
activity and in family life. It contributes to the understanding of the role of job?related and family?
related affects and positive orientation in goal engagement. This study is one of the first efforts to
examine personal goals as a multilevel construct that allows the analysis of intrapersonal
processes. The participants of the study were 246 entrepreneurs; each of them owned a firm and
either was married or had a stable partner. The Personal Projects Analysis method and three scales
assessing three components of positive orientation (self?esteem, life satisfaction, and optimism)
were used. The respondents were asked to list their current 5 personal goals concerning work and
5 concerning family domains; then, they rated them according to 10 dimensions which allow
assessing goal engagement and goal?related affect. For the data analyses multilevel structural
equation modeling was used, differentiating between the goal’s level and the individual’s level.
The findings show that positive and negative goal?related affect exerted unique and opposite
effects on engagement in goal realization. Whereas positive affectivity sustains individuals’ striving
to achieve particular goals, negative affectivity makes them refrain from personal investments in
goal realization. Yet, the contribution of positive affectivity to engagement in the realization of
family goals can be further strengthened by positive orientation, both at the individual’s and at the
goal’s level.
Challenges in Publishing Research on the Psychology of Entrepreneurship ? Meet the
Editors Session
Professor John Arnold, consulting editor with: JOOP, Journal of Vocational Behavior, Human
Relations, and Organizational Psychology Review
Professor Per Davidsson, Field Editor Management and Entrepreneurship, Journal of Business
Venturing
Professor Lorraine Uhlaner, Associate editor of Small Business Economics Journal.
Reflection from Practitioner Perspective
Josette Dijkhuizen, Entrepreneur, The Netherlands
Reflection from an Early Career Perspective
Sylvia Acquah & Sarah Agahi, Doctoral Researchers
DAY 3 ? Sunday, July 1st
Keynote: “Conflicts, family and performance in family firms”
Christian Korunka, University of Vienna, Austria
Many researchers in the growing field of family business research ask for a broader theoretical base
including psychological theories (e.g., Pieper, 2010). The current study serves as an example of a
psychological approach to family business research. The effects of relationship conflict and family
climate on business performance and the moderating role of family climate on the relationship
conflict – business performance relation are analysed. A sample of 392 family businesses (online
questionnaire survey) was available for statistical analyses. Negative effects of relationship conflict
and positive effects of family climate on business outcomes were confirmed. Adaptability and
cohesion ? two aspects of family climate – could be confirmed to moderate the relationship conflict
– business performance relationship.
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Within the EAWOP small group meeting, we would like to stimulate a discussion regarding possible
research topics and links between psychological entrepreneurship research and the growing field of
family business research.
Track 4: Entrepreneurs' Action?& Self?Regulation Part 2
PAPER: Managing grief: a key to re?entry after firm failure
Authors: Anna Jenkins, Jönköping International Business School, Sweden
Discussant: Ronit Yitzhaki
Using transactional model of stress and coping developed by Lazarus and colleagues as an
overarching theoretical framework, this paper investigates the how entrepreneurs cope with firm
failure. I hypothesize that feelings of grief and financial loss influence the relative use of different
coping strategies. In turn, I hypothesize that the choice of coping strategies influences re?entry into
self?employment and subsequent feelings of grief. To test these hypotheses I developed a unique,
longitudinal database of entrepreneurs who recently filed for firm bankruptcy. The findings largely
support the hypothesized relationships. I found that it is the relative use of active and avoidant
coping strategies that has implications for whether entrepreneurs re?enter self?employment. The
findings contribute to the emerging stream of literature on entrepreneurial failure and the habitual
entrepreneurship literature by providing valuable insights into the role of coping after firm failure.
PAPER: The role of emotion regulation and future oriented emotions in the motivation of
entrepreneurs
Authors: Deirdre O'Shea, University of Limerick, Ireland & F. Buckley, University of Limerick, Ireland
Discussant: Martin Obschonka
Drawing on research and theory on emotions regulation, coping and future?oriented emotions, the
present research investigated the role of reappraisal, anticipated positive emotions and the coping
strategy related to the suppression of competing activities in the motivation of early stage
entrepreneurs. Specifically, the research considered the motivational variables of entrepreneurial
self?efficacy and work engagement, as these are key drivers in the persistence of entrepreneurial
endeavours. The data was collected using a mixed method design comprising an interview and
questionnaire with 64 early stage entrepreneurs in Ireland. The results were analysed using partial
least squares structural equation modelling. The findings suggested that the strategy of suppressing
competing activities mediated the effect of entrepreneurial self?efficacy on work engagement.
Furthermore, there was some evidence for the emotion regulation strategy of reappraisal
moderating the effect of anticipated positive emotions on entrepreneurial self?efficacy. The
research is one of the first studies to examine the role of cognitive emotion regulation strategies on
the motivation of entrepreneurs, and demonstrated the importance of future oriented emotions
and emotion regulation for entrepreneurial self?efficacy and work engagement. Directions for
future research and practical implications are also discussed.
Reflection, Summary and Next Steps. Dr Ute Stephan & Dr Marjan Gorgievski
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Lessons learned
Summarizing, the following lessons could be learned from the presented work.
1) The personality approach to entrepreneurship that focuses on the question of who becomes an
entrepreneur is still very much alive. It is evolving, arguably quite slowly, from a static black?box
approach toward a dynamic process?approach. For example, research models are expanded by
adding specific rather than global personality traits, using a person?oriented rather than a variable?
oriented approach and including vocational interest and personal values in addition to character and
abilities (e.g. papers Obschonka et al., Moriano et al.).
2) The idea of the existence of “one entrepreneurial profile” was challenged in several studies (e.g.,
keynote Arnold, papers Bargstead et al., Ahmetoglu et al.). For example, not only Holland’s
entrepreneurial type, but also people with other vocational interests intended to start businesses. By
no means do all who are self?employed hold an entrepreneurial career anchor (Feldman & Bolino,
2000). It seems more plausible that different types of people pursue different goals and hence follow
different entrepreneurial career patterns.
3) Explaining variation within the population of entrepreneurs as opposed to treating entrepreneurs
as one homogeneous group (e.g. keynote Davidsson, paper Bargstead et al, paper Ahmetoglu et al.).
The personality approach is also used to explain specific entrepreneurial outcomes, such as
successful business innovation and growth. The focus within this line of research is on lower order
personality aspects and more specific processes, for example relations between risk taking and
innovation success, or the impact of emotional intelligence on business growth through charismatic
leadership. This makes it easier to identify possible mechanisms behind the findings.
4) Important lessons can be learned from moving the focus from the entrepreneur and business
success to entrepreneurs as leaders and their relationship with their employees (e.g., papers Dej et
al., Fischer et al.; Achtzehn; Yitshaki et al.) or leaders of owner teams (keynotes Uhlaner, Korunka,
see also point 7). In a multi?level study, Dej et al. showed how entrepreneurs’ personalities can
influence employees’ job characteristics, and moderate relations between job characteristics and
employee performance and well?being outcomes (Dej et al.). While another study highlighted how
entrepreneurs’ personality influences their firms strategic orientation and subsequently how
successful employees work on innovation projects. Employment relations in entrepreneurial
companies may particularly interest work?and organizational researchers. A qualitative study
(Achtzehn) presented during this small group meeting indicates working for entrepreneurial firms has
specific motivational aspects which are worth further investigation.
5) Two presentations at the meeting highlighted cognition is a key component of the entrepreneurial
process and an area where psychologists can make unique contributions. Research on business
opportunity recognition is embedded in cognitive psychology, and is unraveling the processes of how
people perceive and interpret business opportunities. Opportunity recognition is an essential aspect
of entrepreneurship during all stages. The research presented at the meeting showed new
dimensions of this process as well as how opportunity recognition relates to the decision to start a
new venture (Santos et al.). Another study (Chan et al.) emphasized that investors make their
investment decisions not just based on informational cues, but base their decisions also on
peripheral cues, such as the font colors used in a business plan.
6) Self?regulation emerged as an important aspect of entrepreneurship that helps entrepreneurs to
launch their businesses, achieve work?life balance, cope with and re?start after firm failure, and more
generally stay motivated (papers by Crommelick et al., O’Shea & Buckley; Jenkins; Laguna et al.) . The
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SGM contributions on this topic were methodologically rigorous, using either longitudinal or multi?
level approaches. Results showed the importance of different self?regulation processes, such as the
role of feedback seeking in order to reduce uncertainty. Other topics were (cognitive) emotion
regulation in order to improve goal striving and engagement in both the work and private domain,
the importance of suppressing competing activities and reappraisal as a mediator of the relation
between entrepreneurial self?efficacy and work engagement, and dealing with grief after business
failure.
7) Even fewer psychologists engage in family business research than in more general
entrepreneurship research. In family businesses, yet other psychological processes are being
investigated as predictors of performance than in research on psychology of entrepreneurship in
general. These processes involve social interactions and aspects of two systems, the business and the
family. The keynote by Uhlaner highlighted the unique contribution that organizational psychology
can make to understanding family business. Korunka presented a study showing the relation
between relationship conflict and business performance was moderated by family climate
(adaptability and cohesion) – leveraging insights from organisational climate research.
Emerging research agenda
Needs assessment. In the entrepreneurship literature there is growing consensus on what topics
should be central to entrepreneurship research. These generally relate to new business entry,
business growth and opportunity recognition, but also individuals and teams, business environments
and organizing principles (Busenitz, West, Shepherd et al, 2003). The field of work and organization
psychology still ignores business owners and entrepreneurs and in contrast almost exclusively
focusses on employees, maybe because for work and organizational psychology, the focus on some
of these topics may not be self?evident. It would be good to assess what topics need study from a
psychological perspective. Relatedly, psychology of entrepreneurship researchers would need to pay
more attention to ways in which their research findings can benefit entrepreneurs and professionals
working with entrepreneurs.
Specific topics emerged during the small group meeting.
Defining the sample of interest. Psychologists would need to avoid ambiguity and inconsistency in the
use of the “E?words” (Davidsson, this meeting). Different definitions of entrepreneur(ship) are in use,
and researchers are not always clear on whether they focus on the self?employed, entrepreneurs or
entrepreneurship (Arnold, this meeting). It is helpful to distinguish two underlying dimensions:
whether one owns a firm yes or no, and whether one is opportunity/value?seeking yes or no
(Uhlaner, this meeting). Arguably, a “real entrepreneur” owns a firm and is opportunity/value?
seeking, e.g. by introducing innovative products into the market and growing his/her firm. Another
issue that needs attention is that almost half of all private enterprises (and by definition all public
enterprises) are owned by two or more people. Hence it is likely that “the entrepreneur” is not a
lonely ranger, but rather part of a dynamic group, which should not be ignored. Psychological
entrepreneurship research should go beyond research on the individual entrepreneur (Uhlaner and
Korunka, this meeting), and include, for example, entrepreneurial teams or families.
Outcomes. Research outcomes should go beyond the question of who becomes or who intends to
become an entrepreneur, and how we can explain objective or financial business success. Other
outcomes matter as well, and may even better fit the interest and expertise of psychologists. Such
outcomes are, for example, subjective success and well?being (viability), who becomes what type of
entrepreneur (e.g. innovative or imitative, small scale vs. growth?seeking, social vs. for?profit), or
aggregated performance over multiple tasks, i.e. entrepreneurial career success rather than business
14
success (Davidsson and Arnold, this meeting). Additionally, if psychologists wish to predict objective
financial career success, they are wise to acknowledge that many other variables in the company
environment and company structure play a role (heterogeneity of the sample).
Entrepreneurship from a career perspective. There is still a lack of interest in entrepreneurial careers
from a lifetime perspective. A deeper understanding of how such different career patterns develop is
lacking. This means there is a lot of scope for adapting career material into the entrepreneurship
domain (Arnold, this meeting), in order to understand more about: 1) how entrepreneurship may
help express different career orientations and personal goals and 2) the consequences of these
orientations and goals for business behaviours and success. Specific themes from career psychology
that seem particularly useful in an entrepreneurship context are “the boundary?less career”, the
“Protean” career and “career anchors”. To date, there is not much evidence that people who hold
attitudes favouring boundary?less or Protean careers have more successful or nicer lives because of
it. However, perhaps these attitudes are a good predictor of being a (successful, happy)
entrepreneur.
Personality approach. The personality approach to entrepreneurship needs to become more
dynamic. Fruitful avenues may be to look at configuration models rather than additive, black box
models or a applying a person versus variable approach (Ahmetoglu et al., and Obschonka et al., this
meeting). Personality research could be expanded by including also personal interests and values as
predictors (Ahmetoglu et al, Arnold, this meeting). Research may even include genetics (Davidsson,
this meeting). A process approach to personality also means looking at interactions between
entrepreneurs’ characteristics and the external business environment or between entrepreneurs and
employees (e.g., Dej et al., this meeting). Finally, research could look at reciprocal relationships
between personality and entrepreneurs’ experiences over time.
Family business. There are many links between entrepreneurship research and family business
research and many topics in the realm of family business research are explicitly psychological and
thus potentially interesting for psychology of entrepreneurship researchers. Examples are managing
conflicts, emotions, gender, family interactions, governance/leadership, and success (Korunka, this
meeting). Building on organizational behavior and social psychology, psychologists could expand
existing entrepreneurship (but also finance) theories, for example by including psychological aspects
of the owners (motives, beliefs, perceptions, behaviors, patterns of interaction) which are currently
largely ignored (Uhlaner this meeting). Also from a small group or team perspective psychologists
could contribute to family and entrepreneurship research.
Cross cultural aspects. Few studies presented at this meeting explicitly addressed cross?cultural
aspects and tested cross cultural validity of their findings. Questions concerning generalizability
across samples (e.g. developed vs. developing countries) remain open.
Methodological issues. In order for psychology of entrepreneurship to develop as a research field, a
larger variety of methodological designs would need to be employed. Several issues have been put
forward (Davidsson, this meeting). Studies would need to employ longitudinal, multi?level designs in
order to unravel dynamic processes, and this is something psychologists are very good at. Multi?level
designs also allow for taking heterogeneity of the population into account. Systematically including
other levels of influence in the design, such as the firm environment in addition to entrepreneurs’
personality in order to predict entrepreneurial success is an important tool when dealing with
heterogeneity that may otherwise obscure the influence of psychological variables. Another remedy
would be to focus on specific entrepreneurial samples to decrease the possible influence of
environmental variables. Finally, there is a need for more experiments. Studies could, for example,
focus on the Person x Situation Interaction and experimentally manipulate the situation to see what
makes any individual act entrepreneurially.
15
During the meeting, participants discussed further steps of how we could advance research on the
psychology of entrepreneurship. The consensus among participants was to assemble a special issue
and funds permitting to repeat the Small Group Meeting in two years’ time. Subsequently, we
developed a special issue proposal informed around the gaps that became apparent during the SGM
and building on the lessons learned and notions of the emerging research agenda set out above. The
proposal was accepted by Applied Psychology: An International Review (APIR). The call for papers will
be issued in summer 2013. Among other things, publishing the special issue with APIR hopefully
further strengthens the cross?cultural dimension of psychology of entrepreneurship research.
Evaluation
The small group meeting received good evaluations. Participants (N=15) would recommend this
meeting to their friends and colleagues and scored the meeting between 4 (agree) and 5 (strongly
agree) on all criteria: 1) meeting was useful, 2) meeting was enjoyable, 3) sufficient opportunity to
learn, 4) sufficient time for networking, 5) the expectation that this meeting will lead to the
establishment of a strong research network, 6) organization was good, 7) the facilitation and
moderation was good, 8) facilities were good, 9) food and drinks were good. The overall rating of the
meeting was 8.92 on a ten point scale.
Table 1. Evaluation of the small group meeting
Criterion rating
1) This conference was very useful. 4.57
2) I found this conference very enjoyable. 4.64
3) I learned a lot from this conference. 4.50
4) I would recommend this conference to my colleagues/other researchers in
the field.
4.57
5) This conference will contribute to the establishment of a strong research
network.
4.43
6) There was sufficient time for networking during this conference. 4.57
7) This conference was well organized. 4.86
8) The facilitation and moderation of the conference was good. 4.64
9) Facilities were good 4.36
10) Food and drinks were good 4.86
Overall evaluation (1?10) 8.92
The participants indicated the most valuable aspects of the small group meeting were the small
group size, the quality of the key?notes and paper presentations, plenty of time for discussion and
getting feedback on the papers. The close connection with the keynote speakers was especially
valued. Point for improvement was that participants wanted more time for leisure and informal
contact and time together to discuss future projects and collaboration.
Conclusion
From the meeting it can be concluded there are a growing number of good quality studies on topics
related to the psychology of entrepreneurship. The diversity of research topics as well as research
methods and scientific rigor of psychology of entrepreneurship studies has definitely improved since
16
the publication of a special issue on the topic in EJWOP in 2000. However, the topics and theoretical
background of many studies is still rather management oriented, and studies could build even more
on psychological theories and address psychological processes. The meeting highlighted that
participants were typically the only ones in their research groups investigating entrepreneurship and
hence the opportunity for exchange with like?minded psychologists during this small group meeting
was extremely valued. We would like to see even more psychologists to apply their theories and
methods in the field of entrepreneurship, thus focusing on the individuals and teams generating
employment rather than solely at employees. In addition, the methodological approaches of
researchers working in the area of psychology of entrepreneurship would need to become more
diverse. Even though multi?level, multi?source and longitudinal designs are used more and more
often, many studies to date still rely on cross?sectional, single?source survey data. Finally, researchers
working in the field of psychology of entrepreneurship need to pay closer attention to cross?cultural
aspects of their work – i.e. studying the entrepreneur or entrepreneurial team in relation to their
context (business and cultural environment).
doc_620157405.pdf
In this detailed outline relating to advances in the psychology of entrepreneurship.
1
Conference report
Advances in the
Psychology of Entrepreneurship
29 June – 1 July, 2012
University of Sheffield, Management School, Sheffield, UK.
Authors:
Marjan Gorgievski, Erasmus University Rotterdam
Ute Stephan, Sheffield University
Sponsors
Werkgemeenschap
Arbeids? en Organisatie Psychologie
2
Rationale and aim
This small group meeting brought together researchers working in the field of work, organisational,
and vocational psychology and entrepreneurship, in order to stimulate theoretical developments and
cross cultural collaboration. Understanding psychological processes explaining entrepreneurial career
choice and entrepreneurial success in its broadest sense is highly relevant. First, entrepreneurs are
important for our society. Entrepreneurship contributes to employment creation, productivity and
economic growth. At the same time, entrepreneurship has the potential to deliver innovative
solutions to social and environmental problems. The numerous programmes for entrepreneurs and
SMEs launched by the European Commission are recognition of entrepreneurship’s importance for
Europe. Second, for the individual entrepreneur, entrepreneurship seems to be a highly satisfying
career choice, one that arguably incorporates many aspects characterizing ongoing changes in the
world of work, such as increased uncertainty, responsibility, time?pressure and insecurity. Thus,
insights into the psychology of entrepreneurship can help work and organisational psychologists
understand the effects of the ongoing changes in the world of work. Finally, entrepreneurs as
founders, owners and managers of their organisations shape not only fundamentally the main goals
of their business, its organisational culture and core business practices; they also shape the work
environment for their employees and thereby can have profound influences on their employees well?
being and performance. The psychology of entrepreneurship is a relatively young research field that
has much to offer to the understanding of successful entrepreneurship in all its facets (economic,
social, personal and societal). It has made some progress in the past couple of decades, yet
opportunities to contribute are vast as a lot remains unclear. This small group meeting aimed to
contribute to the development of the field through critically reflecting on papers representing
current state?of?the?art research and key note presentations outlining strengths and weaknesses of
current psychology of entrepreneurship research as well as setting directions for future research.
Format
The format of the meeting was a small scale workshop taking place over three days beginning Friday
morning and lasting through Sunday noon. Twenty?five scholars hailing form a wide range of
countries participated. We received a total of 25 high quality submissions, which were independently
reviewed against methodological and theoretical criteria. Subsequently, fourteen papers were
selected for presentation at the Small Group Meeting (SGM). Each paper presentation during the
SGM lasted twenty minutes, was then discussed by a pre?allocated discussant for another five
minutes, followed by a ten minute discussion with all participants. We had asked participants to
insert open questions in their research with the final papers submitted to the meeting. These open
questions helped discussants and participants to provide useful feedback. The contributions for the
meeting were clustered around five topic streams, which we created based on the submission to the
meeting:
1) Advancing research on entrepreneurial careers: Entrepreneurship as a Career Choice;
2) Cognitions and decisions;
3) Leadership and entrepreneurship;
4) Actions and self?regulation;
5) Performance in family firms.
Six keynote presentations were planned. Unfortunately two keynotes were cancelled last minute
(one on the day of the presentation) due to personal circumstances. Nevertheless, the SGM
participants saw excellent keynote presentations by four senior experts (Prof. Dr. John Arnold, Prof.
Dr. Per Davidsson, Prof. Dr. Christian Korunka and Prof. Dr. Lorraine Uhlaner). Challenges in
3
publishing research on psychology of entrepreneurship were discussed during an additional “meet?
the?editors” session with (field, associate, consulting) editors of leading psychology (Human
Relations, Journal of Vocational Behavior, Journal of Occupational and Organizational Psychology,
Organizational Psychology Review) and entrepreneurship journals (Journal of Business Venturing,
Small Business Economics). At the end of each day, the presentations of that day were discussed
from a practitioners’ perspective and two Ph.D. students shared their impressions from an early
career perspective.
4
Program and Abstracts
DAY 1 ? Friday, June 29th
Welcome to the EAWOP Small Group Meeting
Dr Marjan Gorgievski & Dr Ute Stephan
Background and aims of the meeting
Opening KEYNOTE “Design & Methods in Entrepreneurship: Challenges and Opportunities for
Psychology”
Professor Per Davidsson, QUT Business School, Brisbane Australia
Entrepreneurship is a fascinating phenomenon of immense societal importance. As representatives
of a mature discipline, scholars with a solid background and anchoring in psychology can make many
valuable contributions to our understanding of this phenomenon, drawing on theories, methods and
research traditions that have already been established in various branches of psychology. However,
in order to maximize these contributions, psychologists who migrate into this area would do well to
try to systematically avoid (repeating) common mistakes in prior entrepreneurship research, and to
identify and concentrate on those areas where psychologists arguably have the greatest comparative
advantage for developing knowledge about entrepreneurship. This keynote address builds upon my –
an amateur, “semi?psychologists” – personal reflections about these challenges and opportunities for
psychologists interested in entrepreneurship. Among traps to avoid I will discuss a) ambiguity and
inconsistency in the definition of entrepreneurship; b) overfocusing on person?based explanations
“fundamental attribution error”), and c) the use of overly heterogeneous samples. Among
opportunities I will address drawing on disciplinary expertise in i) experimental and ii) multi?level
designs, as well as in iii) the operationalization of theoretical constructs. Further, psychological
research traditions may usefully feed into investigations beyond one person?one venture designs by
addressing issues of iv) entrepreneurial teams (i.e., small groups) and v) entrepreneurial careers. On
the individual level, psychologists are well equipped to investigate vi) non?financial, individual
outcomes of entrepreneurship. Finally, recent research has ventured into the genetic drivers of
entrepreneurial behavior. Here, psychologists can act as vii) competent critics as well as viii) help
bridging the gap between genetic bases and overt behaviors by identifying psychological moderators
and mediators.
KEYNOTE “Entrepreneurship and Career Theory”
Professor John Arnold, University of Sheffield, UK
Much career theorizing over the last fifteen years or so has emphasized the need for individuals to
take charge of their own development, and avoid relying on organizations to do it for them (as if that
was ever a good idea!). Some of the states of mind and behavioural strategies involved in career self?
management are described in terms that are reminiscent of entrepreneurship and/or autonomy and
independence. In this presentation I will review some of this theory and research, and invite
participants to reflect with me on its utility for understanding the work lives and achievements of
entrepreneurs.
5
Track 1: Entrepreneurship as a Career Choice
PAPER: An entrepreneurial Big Five profile matters, but why?
Authors: Martin Obschonka, University of Jena, Germany, M. Stuetzer, QUT Business School,
Brisbane, Australia, & M. Goethner, University of Jena, Germany
Discussant: Sebastiaan Fisher
There is convincing evidence that a specific constellation of Big Five personality traits within the
person relates to entrepreneurship. According to this research, an entrepreneurial personality profile
can be assessed by the goodness?of?fit between the individual Big Five profile and an entrepreneurial
reference type (high values in extraversion, conscientiousness, and openness, and low values in
agreeableness and neuroticism). It is less clear, however, why such a trait profile matters for
entrepreneurial activity. In this study, we apply the Giessen?Amsterdam model to examine pathways
through which an entrepreneurial Big Five profile might affect entrepreneurial outcomes. The model
states that the Big Five traits should exert an effect through more specific traits, such as self?efficacy,
locus of control, and risk?taking. In the present study, we examined these specific traits as mediators
between the entrepreneurial Big Five profile on the one side, and entrepreneurial intentions,
behavior, and success on the other. We analyzed longitudinal data from the German Socio?Economic
Panel (GSOEP) and the Thuringian Founder Study (TFS). In the GSOEP data, we found the positive
relationship between an entrepreneurial Big Five profile and self?employment status to be mediated
by risk propensity and locus of control. The potential founder survey of the TFS revealed that the
positive relationship between the trait profile and founding intentions is mediated by entrepreneurial
self?efficacy. Furthermore, the Big Five profile showed an indirect effect on actual founding behavior
18 via entrepreneurial self?efficacy. Finally, in a sample of nascent entrepreneurs, we found the Big
Five profile to positively predict generalized self?efficacy, which in turn predicted the progress of the
start?up projects in the venture creation process, but only for those nascent entrepreneurs who had
prior work experience in small and young firms. In sum, the results indicate that an entrepreneurial
Big Five profile gets expressed via more specific entrepreneurial traits.
PAPER: Who Wants to Be an Entrepreneur? The Relationship between Vocational Interests and
Individual Differences in Entrepreneurship
Authors: Gorkan Ahmetoglu, Goldsmiths, University of London, UK, P.I.L. Almeida, UCL, London, UK &
T. Chamorro?Premuzic, UCL, London, UK
Discussant: Michiel Crommelinck
Psychology has made a major contribution to the field of entrepreneurship, with individual
differences being at the forefront of research for decades. Although a number of domains (including
personality, cognitive ability, and motivation) have been examined in the field, very few research
efforts have focused on interests. Yet several authors have suggested that interests are a
complementary, and even a necessary, component in the individual differences structure.
Accordingly, this study attempts to fill this void by examining the relationship between
entrepreneurship and vocational interests. Specifically, it investigates whether there is an association
between vocational interests (as measured by Holland’s RIASEC model), entrepreneurial potential (as
assessed by META; Ahmetoglu, Leutner, & Chamorro?Premuzic, 2011) and entrepreneurial activity,
both within and outside organisations. The analysis of the results reveals predictable associations
between Holland's taxonomy of vocational interests and entrepreneurial outcomes. Furthermore,
incremental validity tests show that vocational interests (RIASEC) predict entrepreneurial activity
even when entrepreneurial potential (META) is taken into account. However, the results also reveal
that META is by far the strongest and most consistent predictor of entrepreneurial activity,
accounting for most of the variance in these outcomes. Findings are discussed in terms of their
implication for selection and vocational guidance.
6
PAPER: The influence of individual values on entrepreneurial intention
Authors: Juan Antonio Moriano, UNED Madrid, Spain, F. Linan, Universidad de Sevilla. Spain & I. Jaen,
Universidad de Sevilla, Spain
Discussant: Deirdre O’Shea
From a cognitive perspective, the theory states that intentionS are the best predictors of any planned
behavior, including entrepreneurship. Understanding factors that may influence entrepreneurial
intentions gives the possibility of better understanding entrepreneurship at its very beginning.
Nevertheless, the identification of individual values and the effect they exert on the decision to
become an entrepreneur is clearly an under?researched area of study. The study examines the value?
intention link in entrepreneurship on a sample of 3415 Spanish university graduates. Schwartz’s
Portrait Value Questionnaire (PVQ) is used to measure values. Results confirm the positive effects of
openness to change and self?enhancement values dimensions on the development of
entrepreneurial intention in Spain.
PAPER: Psychosocial characterization of social entrepreneurs: A comparative study in Antofagasta,
Chile
Authors: Mariana Bargsted Aravena, Universidad Católica del Norte, Chile
Discussant: Gorkan Ahmetoglu
Social entrepreneurship is a topic of growing interest that demands empirical studies on different
aspects. It is any kind of project, services and goods oriented to create social value. This is an
exploratory study aimed to identify a distinctive psychosocial profile of social entrepreneurs in
Antofagasta, Chile. We conducted a factorial study in which we distinguished social entrepreneurs,
volunteers, philanthropists and commercial entrepreneurs in several psychosocial variables: personal
values, entrepreneurship orientation (proactivity, entrepreneurial self?efficacy, risk tendency, and
control locus), social motivation, empathy orientation, and career identity. Our work hypothesis was
that social entrepreneurs present a particular profile related to values of benevolence and self?
direction, high entrepreneurship orientation, hetero?centered empathy, a social motive similar to
altruism, and career identity based on service and entrepreneurship. We found evidence to maintain
our hypothesis and, therefore, it was possible to characterize social entrepreneurs.
TRACK2: Cognition and Decisions
PAPER: Business opportunity recognition and decision to launch a venture
Authors: Susana C. Santos & Antonio Caetano, ISCTE?IUL, Instituto Universitário de Lisboa, Portugal
Discussant: Dominika Dej
The present research aims to present a bi?dimensional model of the processes of business
opportunity recognition and decision to launch a venture. Integrating evidence from the prototype
literature, their organization of clusters based on meaning similarity, and on business opportunity
recognition as pattern recognition theory (Baron, 2006; Baron and Ensley 2006), we suggest that the
prototypical features of the business opportunity and decision to launch a venture will be organized
in subgroups with similar content. We develop four theoretical propositions and two hypotheses. We
conducted a study on an entrepreneur sample (n = 173). The questionnaire on the prototype
measures for business opportunity and decision to launch a venture was adapted from Baron and
Ensley (2006). This research is a step forward and showed that (a) the business opportunity
prototype includes two dimensions: business opportunity utility and business opportunity
distinctiveness; and (b) the decision to launch a venture includes two dimensions: exogenous
decision to launch a venture and endogenous decision to launch a venture. The importance of
business opportunity recognition and decision to launch a venture on the entrepreneurial process is
7
stressed by the relevance that both have on the process. They refer, respectively, to the first and
second stages of the entrepreneurial process, and consequently, there is no entrepreneurship
without business opportunity recognition and decision to launch a venture. It is important to focus
on understanding these two stages, in order to develop better training and to improve successful
business opportunities ideas and decisions to launch a venture.
PAPER: Beyond form and substance: how the colors used in business plans influence venture
investment decisions
Authors: Richard Chan, Peking University, HSBC School of Business, China & H.D. Park, Drexel
University & University of Missouri – Kansas City, USA
Discussant: David Achtzehn
Decision makers consciously process and interpret informational cues, but they are also non?
consciously influenced by irrelevant, peripheral cues. We explore how the use of color, a prominent
peripheral cue, in business planning documents influences new venture investment decisions. Blue
and red are often associated with positive and negative outcomes respectively. We predict that the
greater use of red in business plans would reduce the amounts invested in new ventures, while more
blue would increase it. Using a major business plan competition as our empirical setting, we found
that the use of red in business plans was associated with lower amounts invested in new ventures.
However, we failed to find a positive relationship between the use of blue in business plans and
levels of investment. Our study illustrates that in addition to informational cues, peripheral cues can
also influence the initial selection and evaluation of new venture investment opportunities.
KEYNOTE: “Group dynamics and entrepreneurship: Applying social/organization psychology to the
study of owning groups”
Professor Lorraine Uhlaner, EDHEC Business School, France
Whereas the entrepreneur is often viewed as the ‘lone ranger, ’ much entrepreneurial activity takes
place in groups—Groups of owners (both family and nonfamily) make up nearly half of all established
private firms. Yet, with the exception of the family business literature, entrepreneurship research
typically refers to the single “owner?manager” or “entrepreneur” (in the singular) as the target of
study. The field of psychology, more generally, almost completely ignores owners. However, study of
owning groups provides a great opportunity for applying a variety of social and organization
psychology concepts and theories, including organizational commitment, organizational citizenship
behavior, pro?social behavior, stewardship theory, social identity theory, and research on teams. In
my presentation, I will present some examples of such applications to current research topics
including psychological ownership, commitment (both family and ownership), responsible ownership
behavior, family governance practices, and relational governance.
Reflections from Practitioner Perspective
Josette Dijkhuizen, Entrepreneur, The Netherlands
Reflection from an Early Career Perspective
Sylvia Acquah & Sarah Agahi, Doctoral Researchers
8
DAY 2 ? Saturday, June 30th
TRACK 3: Leadership and entrepreneurship
PAPER: Linking leader personal initiative to innovation project success: The role of
entrepreneurial strategic orientation for business innovation projects
Authors: Sebastian Fisher, Leuphana University, Germany
Discussant: Mariola Laguna
As put forward in the call for papers for the EAWOP small group meeting, entrepreneurs as
founders, owners and managers of their organizations shape the core business practices, and by
that the work environment for their employees. In this paper, we want to explore how
entrepreneurs’ personal initiative affects the success in business innovation projects, done by
employees. We suggest that the entrepreneurial, strategic posture of the business mediates the
relationship, because it suggests which actions are appropriate in innovation projects. Hypotheses
were tested in a sample of 39 entrepreneurial businesses in Germany, including data from 61
entrepreneurs and 563 employees. Results indicate that personal initiative predicts
entrepreneurial orientation facets of innovativeness, risk taking, and proactiveness positively.
Additionally, the entrepreneurial orientation facets of innovativeness, autonomy and competitive
aggressiveness influence success in innovation projects positively, whereas risk taking influences
success in innovation projects negatively. Interestingly, indirect effects via competitive
aggressiveness and risk taking are negative, indicating that success in innovation projects would
benefit from higher competitive aggressiveness and less risk taking of entrepreneurs. Last,
personal initiative predicts success in innovation projects after entrepreneurial orientation is
controlled for. In sum, this project brings together literature on active performance and
entrepreneurial success with literature on predictors for team innovation success. We are able to
provide entrepreneurs with insights on how to lead their business, and we advance theoretical
understanding on multilevel influences in entrepreneurial, small businesses.
PAPER: When you are good to mama, mama's good to you: Exploring employment relationships
in high?tech start?ups using the psychological contract
Authors: David Achtzehn, Loughborough University, UK
Discussant: Susana Santos
Human capital in new ventures is believed to be a critical success factor, yet the literature on the
working environment in entrepreneurial firms remains surprisingly scarce. This article explores the
employment relations in young, growth orientated, high?tech firms in Berlin and London, paying
particular attention to the relational and often intrinsically motivated nature of the relationship.
The paper proposes the psychological contract as an appropriate analytical framework to gain a
deeper inside into the motivations and expectations of employees working in innovative start?ups.
The results stress the unique context of the entrepreneur as an employer, the short career capital
window they face and the distinct management strategies they embrace. Often a parental
management style similar to the philosophy of “Queen Latifah” in the musical Chicago is adopted
as a motivation as well as control mechanism. The findings also suggest that a “fun culture” and an
opportunity for personal growth frequently compensate employees for a lack of guidance and
professionalism. The article helps to inform prospective employees about the benefits and
challenges of joining a start?up and encourages entrepreneurs to further tailor their management
and compensation strategies. In addition, the article is an original attempt to enhance the theory
of psychological contracts by linking it to the field of entrepreneurship for the first time.
9
PAPER: How do entrepreneurs' emotional intelligence and transformational leadership
orientation impact new ventures' growth?
Authors: Ronit Yitshaki, Bar?Ilan University, Israel
Discussant: Juan Antonio Moriano
This study examines the interrelations between entrepreneurs’ emotional intelligence (EI),
transformational leadership behaviors and growth. Based on data collected from 99
entrepreneurial firms, the findings show that entrepreneurs’ EI has an indirect impact on growth.
Entrepreneurs’ EI is positively related to entrepreneurs’ intellectual stimulation and individualized
consideration and entrepreneurs’ charismatic?inspirational behaviors. However, only
entrepreneurs’ charismatic?inspirational behaviors impacts growth. The findings extend the
literature by suggesting that entrepreneurs’ EI is a “latent” emotional capability that impacts their
transformational leadership orientation. It is also suggested that by employing charismatic?
inspirational behaviors, entrepreneurs’ demonstrate their ability to enlist and manage followers’
emotions and hence influence growth.
PAPER: Entrepreneurs' social skills moderating effects on the relationship between their
employees' psychological job demands and psychological health: A multi?level study.
Authors: Dominika Dej, Dresden University of Technology, Germany, M. Zaba, Dresden University
of Technology, Germany, M. Shemla, Dresden University of Technology, Germany, & U. Stephan,
University of Sheffield, UK
Discussant: Anna Jenkins
This study examines the influence of entrepreneurs’ personal characteristics on the relationship
between job demands and employees’ work outcomes. The participants were 34 entrepreneurs
and 384 employees. Using a hierarchical linear modeling (HLM) approach, we found a negative
relationship between psychological job demands (level 1) and psychological health (level 1). We
found that this relationship was moderated by entrepreneurs’ social skills (level 2) and mediated
by employee perceived leader social support. These finding suggest that social skills, which have
been shown to impact entrepreneurial success, seem also to be crucial for employees’ work
outcomes. Interventions targeting entrepreneurs’ social skills may contribute to employee well?
being in small and medium?sized companies.
Track 4: Entrepreneurs' Action? & Self?Regulation
PAPER: Feedback seeking in times of uncertainty: a multi wave study among nascent
entrepreneurs
Authors: Michiel Crommelinck, Ghent University, Belgium & F. Anseel, Radboud University
Nijmegen, The Netherlands
Discussant: Richard Chan
Uncertainty is fundamental to entrepreneurship. In this paper we take a first step towards
understanding the proactive tactics used by entrepreneurs to manage uncertainty as we examine
how nascent entrepreneurs’ feedback?seeking behaviors impact uncertainty over time. In
addition, we investigate characteristics of entrepreneurs, the feedback received, and the business
idea as moderators. A longitudinal data collection project with four measurement waves is
currently being conducted using a sample of 500 nascent entrepreneurs in Belgium.
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PAPER: Affect and goal engagement in entrepreneurs: moderating role of positive orientation
Authors: Mariola Laguna, The John Paul II Catholic University of Lublin, Poland, G. Alessandri,
Sapienza University of Rome, Italy & G. Caprara, Sapienza” University of Rome, Italy
Discussant: Mariana Bargsted
The paper aims to explain the mechanisms of entrepreneurs’ engagement in entrepreneurial
activity and in family life. It contributes to the understanding of the role of job?related and family?
related affects and positive orientation in goal engagement. This study is one of the first efforts to
examine personal goals as a multilevel construct that allows the analysis of intrapersonal
processes. The participants of the study were 246 entrepreneurs; each of them owned a firm and
either was married or had a stable partner. The Personal Projects Analysis method and three scales
assessing three components of positive orientation (self?esteem, life satisfaction, and optimism)
were used. The respondents were asked to list their current 5 personal goals concerning work and
5 concerning family domains; then, they rated them according to 10 dimensions which allow
assessing goal engagement and goal?related affect. For the data analyses multilevel structural
equation modeling was used, differentiating between the goal’s level and the individual’s level.
The findings show that positive and negative goal?related affect exerted unique and opposite
effects on engagement in goal realization. Whereas positive affectivity sustains individuals’ striving
to achieve particular goals, negative affectivity makes them refrain from personal investments in
goal realization. Yet, the contribution of positive affectivity to engagement in the realization of
family goals can be further strengthened by positive orientation, both at the individual’s and at the
goal’s level.
Challenges in Publishing Research on the Psychology of Entrepreneurship ? Meet the
Editors Session
Professor John Arnold, consulting editor with: JOOP, Journal of Vocational Behavior, Human
Relations, and Organizational Psychology Review
Professor Per Davidsson, Field Editor Management and Entrepreneurship, Journal of Business
Venturing
Professor Lorraine Uhlaner, Associate editor of Small Business Economics Journal.
Reflection from Practitioner Perspective
Josette Dijkhuizen, Entrepreneur, The Netherlands
Reflection from an Early Career Perspective
Sylvia Acquah & Sarah Agahi, Doctoral Researchers
DAY 3 ? Sunday, July 1st
Keynote: “Conflicts, family and performance in family firms”
Christian Korunka, University of Vienna, Austria
Many researchers in the growing field of family business research ask for a broader theoretical base
including psychological theories (e.g., Pieper, 2010). The current study serves as an example of a
psychological approach to family business research. The effects of relationship conflict and family
climate on business performance and the moderating role of family climate on the relationship
conflict – business performance relation are analysed. A sample of 392 family businesses (online
questionnaire survey) was available for statistical analyses. Negative effects of relationship conflict
and positive effects of family climate on business outcomes were confirmed. Adaptability and
cohesion ? two aspects of family climate – could be confirmed to moderate the relationship conflict
– business performance relationship.
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Within the EAWOP small group meeting, we would like to stimulate a discussion regarding possible
research topics and links between psychological entrepreneurship research and the growing field of
family business research.
Track 4: Entrepreneurs' Action?& Self?Regulation Part 2
PAPER: Managing grief: a key to re?entry after firm failure
Authors: Anna Jenkins, Jönköping International Business School, Sweden
Discussant: Ronit Yitzhaki
Using transactional model of stress and coping developed by Lazarus and colleagues as an
overarching theoretical framework, this paper investigates the how entrepreneurs cope with firm
failure. I hypothesize that feelings of grief and financial loss influence the relative use of different
coping strategies. In turn, I hypothesize that the choice of coping strategies influences re?entry into
self?employment and subsequent feelings of grief. To test these hypotheses I developed a unique,
longitudinal database of entrepreneurs who recently filed for firm bankruptcy. The findings largely
support the hypothesized relationships. I found that it is the relative use of active and avoidant
coping strategies that has implications for whether entrepreneurs re?enter self?employment. The
findings contribute to the emerging stream of literature on entrepreneurial failure and the habitual
entrepreneurship literature by providing valuable insights into the role of coping after firm failure.
PAPER: The role of emotion regulation and future oriented emotions in the motivation of
entrepreneurs
Authors: Deirdre O'Shea, University of Limerick, Ireland & F. Buckley, University of Limerick, Ireland
Discussant: Martin Obschonka
Drawing on research and theory on emotions regulation, coping and future?oriented emotions, the
present research investigated the role of reappraisal, anticipated positive emotions and the coping
strategy related to the suppression of competing activities in the motivation of early stage
entrepreneurs. Specifically, the research considered the motivational variables of entrepreneurial
self?efficacy and work engagement, as these are key drivers in the persistence of entrepreneurial
endeavours. The data was collected using a mixed method design comprising an interview and
questionnaire with 64 early stage entrepreneurs in Ireland. The results were analysed using partial
least squares structural equation modelling. The findings suggested that the strategy of suppressing
competing activities mediated the effect of entrepreneurial self?efficacy on work engagement.
Furthermore, there was some evidence for the emotion regulation strategy of reappraisal
moderating the effect of anticipated positive emotions on entrepreneurial self?efficacy. The
research is one of the first studies to examine the role of cognitive emotion regulation strategies on
the motivation of entrepreneurs, and demonstrated the importance of future oriented emotions
and emotion regulation for entrepreneurial self?efficacy and work engagement. Directions for
future research and practical implications are also discussed.
Reflection, Summary and Next Steps. Dr Ute Stephan & Dr Marjan Gorgievski
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Lessons learned
Summarizing, the following lessons could be learned from the presented work.
1) The personality approach to entrepreneurship that focuses on the question of who becomes an
entrepreneur is still very much alive. It is evolving, arguably quite slowly, from a static black?box
approach toward a dynamic process?approach. For example, research models are expanded by
adding specific rather than global personality traits, using a person?oriented rather than a variable?
oriented approach and including vocational interest and personal values in addition to character and
abilities (e.g. papers Obschonka et al., Moriano et al.).
2) The idea of the existence of “one entrepreneurial profile” was challenged in several studies (e.g.,
keynote Arnold, papers Bargstead et al., Ahmetoglu et al.). For example, not only Holland’s
entrepreneurial type, but also people with other vocational interests intended to start businesses. By
no means do all who are self?employed hold an entrepreneurial career anchor (Feldman & Bolino,
2000). It seems more plausible that different types of people pursue different goals and hence follow
different entrepreneurial career patterns.
3) Explaining variation within the population of entrepreneurs as opposed to treating entrepreneurs
as one homogeneous group (e.g. keynote Davidsson, paper Bargstead et al, paper Ahmetoglu et al.).
The personality approach is also used to explain specific entrepreneurial outcomes, such as
successful business innovation and growth. The focus within this line of research is on lower order
personality aspects and more specific processes, for example relations between risk taking and
innovation success, or the impact of emotional intelligence on business growth through charismatic
leadership. This makes it easier to identify possible mechanisms behind the findings.
4) Important lessons can be learned from moving the focus from the entrepreneur and business
success to entrepreneurs as leaders and their relationship with their employees (e.g., papers Dej et
al., Fischer et al.; Achtzehn; Yitshaki et al.) or leaders of owner teams (keynotes Uhlaner, Korunka,
see also point 7). In a multi?level study, Dej et al. showed how entrepreneurs’ personalities can
influence employees’ job characteristics, and moderate relations between job characteristics and
employee performance and well?being outcomes (Dej et al.). While another study highlighted how
entrepreneurs’ personality influences their firms strategic orientation and subsequently how
successful employees work on innovation projects. Employment relations in entrepreneurial
companies may particularly interest work?and organizational researchers. A qualitative study
(Achtzehn) presented during this small group meeting indicates working for entrepreneurial firms has
specific motivational aspects which are worth further investigation.
5) Two presentations at the meeting highlighted cognition is a key component of the entrepreneurial
process and an area where psychologists can make unique contributions. Research on business
opportunity recognition is embedded in cognitive psychology, and is unraveling the processes of how
people perceive and interpret business opportunities. Opportunity recognition is an essential aspect
of entrepreneurship during all stages. The research presented at the meeting showed new
dimensions of this process as well as how opportunity recognition relates to the decision to start a
new venture (Santos et al.). Another study (Chan et al.) emphasized that investors make their
investment decisions not just based on informational cues, but base their decisions also on
peripheral cues, such as the font colors used in a business plan.
6) Self?regulation emerged as an important aspect of entrepreneurship that helps entrepreneurs to
launch their businesses, achieve work?life balance, cope with and re?start after firm failure, and more
generally stay motivated (papers by Crommelick et al., O’Shea & Buckley; Jenkins; Laguna et al.) . The
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SGM contributions on this topic were methodologically rigorous, using either longitudinal or multi?
level approaches. Results showed the importance of different self?regulation processes, such as the
role of feedback seeking in order to reduce uncertainty. Other topics were (cognitive) emotion
regulation in order to improve goal striving and engagement in both the work and private domain,
the importance of suppressing competing activities and reappraisal as a mediator of the relation
between entrepreneurial self?efficacy and work engagement, and dealing with grief after business
failure.
7) Even fewer psychologists engage in family business research than in more general
entrepreneurship research. In family businesses, yet other psychological processes are being
investigated as predictors of performance than in research on psychology of entrepreneurship in
general. These processes involve social interactions and aspects of two systems, the business and the
family. The keynote by Uhlaner highlighted the unique contribution that organizational psychology
can make to understanding family business. Korunka presented a study showing the relation
between relationship conflict and business performance was moderated by family climate
(adaptability and cohesion) – leveraging insights from organisational climate research.
Emerging research agenda
Needs assessment. In the entrepreneurship literature there is growing consensus on what topics
should be central to entrepreneurship research. These generally relate to new business entry,
business growth and opportunity recognition, but also individuals and teams, business environments
and organizing principles (Busenitz, West, Shepherd et al, 2003). The field of work and organization
psychology still ignores business owners and entrepreneurs and in contrast almost exclusively
focusses on employees, maybe because for work and organizational psychology, the focus on some
of these topics may not be self?evident. It would be good to assess what topics need study from a
psychological perspective. Relatedly, psychology of entrepreneurship researchers would need to pay
more attention to ways in which their research findings can benefit entrepreneurs and professionals
working with entrepreneurs.
Specific topics emerged during the small group meeting.
Defining the sample of interest. Psychologists would need to avoid ambiguity and inconsistency in the
use of the “E?words” (Davidsson, this meeting). Different definitions of entrepreneur(ship) are in use,
and researchers are not always clear on whether they focus on the self?employed, entrepreneurs or
entrepreneurship (Arnold, this meeting). It is helpful to distinguish two underlying dimensions:
whether one owns a firm yes or no, and whether one is opportunity/value?seeking yes or no
(Uhlaner, this meeting). Arguably, a “real entrepreneur” owns a firm and is opportunity/value?
seeking, e.g. by introducing innovative products into the market and growing his/her firm. Another
issue that needs attention is that almost half of all private enterprises (and by definition all public
enterprises) are owned by two or more people. Hence it is likely that “the entrepreneur” is not a
lonely ranger, but rather part of a dynamic group, which should not be ignored. Psychological
entrepreneurship research should go beyond research on the individual entrepreneur (Uhlaner and
Korunka, this meeting), and include, for example, entrepreneurial teams or families.
Outcomes. Research outcomes should go beyond the question of who becomes or who intends to
become an entrepreneur, and how we can explain objective or financial business success. Other
outcomes matter as well, and may even better fit the interest and expertise of psychologists. Such
outcomes are, for example, subjective success and well?being (viability), who becomes what type of
entrepreneur (e.g. innovative or imitative, small scale vs. growth?seeking, social vs. for?profit), or
aggregated performance over multiple tasks, i.e. entrepreneurial career success rather than business
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success (Davidsson and Arnold, this meeting). Additionally, if psychologists wish to predict objective
financial career success, they are wise to acknowledge that many other variables in the company
environment and company structure play a role (heterogeneity of the sample).
Entrepreneurship from a career perspective. There is still a lack of interest in entrepreneurial careers
from a lifetime perspective. A deeper understanding of how such different career patterns develop is
lacking. This means there is a lot of scope for adapting career material into the entrepreneurship
domain (Arnold, this meeting), in order to understand more about: 1) how entrepreneurship may
help express different career orientations and personal goals and 2) the consequences of these
orientations and goals for business behaviours and success. Specific themes from career psychology
that seem particularly useful in an entrepreneurship context are “the boundary?less career”, the
“Protean” career and “career anchors”. To date, there is not much evidence that people who hold
attitudes favouring boundary?less or Protean careers have more successful or nicer lives because of
it. However, perhaps these attitudes are a good predictor of being a (successful, happy)
entrepreneur.
Personality approach. The personality approach to entrepreneurship needs to become more
dynamic. Fruitful avenues may be to look at configuration models rather than additive, black box
models or a applying a person versus variable approach (Ahmetoglu et al., and Obschonka et al., this
meeting). Personality research could be expanded by including also personal interests and values as
predictors (Ahmetoglu et al, Arnold, this meeting). Research may even include genetics (Davidsson,
this meeting). A process approach to personality also means looking at interactions between
entrepreneurs’ characteristics and the external business environment or between entrepreneurs and
employees (e.g., Dej et al., this meeting). Finally, research could look at reciprocal relationships
between personality and entrepreneurs’ experiences over time.
Family business. There are many links between entrepreneurship research and family business
research and many topics in the realm of family business research are explicitly psychological and
thus potentially interesting for psychology of entrepreneurship researchers. Examples are managing
conflicts, emotions, gender, family interactions, governance/leadership, and success (Korunka, this
meeting). Building on organizational behavior and social psychology, psychologists could expand
existing entrepreneurship (but also finance) theories, for example by including psychological aspects
of the owners (motives, beliefs, perceptions, behaviors, patterns of interaction) which are currently
largely ignored (Uhlaner this meeting). Also from a small group or team perspective psychologists
could contribute to family and entrepreneurship research.
Cross cultural aspects. Few studies presented at this meeting explicitly addressed cross?cultural
aspects and tested cross cultural validity of their findings. Questions concerning generalizability
across samples (e.g. developed vs. developing countries) remain open.
Methodological issues. In order for psychology of entrepreneurship to develop as a research field, a
larger variety of methodological designs would need to be employed. Several issues have been put
forward (Davidsson, this meeting). Studies would need to employ longitudinal, multi?level designs in
order to unravel dynamic processes, and this is something psychologists are very good at. Multi?level
designs also allow for taking heterogeneity of the population into account. Systematically including
other levels of influence in the design, such as the firm environment in addition to entrepreneurs’
personality in order to predict entrepreneurial success is an important tool when dealing with
heterogeneity that may otherwise obscure the influence of psychological variables. Another remedy
would be to focus on specific entrepreneurial samples to decrease the possible influence of
environmental variables. Finally, there is a need for more experiments. Studies could, for example,
focus on the Person x Situation Interaction and experimentally manipulate the situation to see what
makes any individual act entrepreneurially.
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During the meeting, participants discussed further steps of how we could advance research on the
psychology of entrepreneurship. The consensus among participants was to assemble a special issue
and funds permitting to repeat the Small Group Meeting in two years’ time. Subsequently, we
developed a special issue proposal informed around the gaps that became apparent during the SGM
and building on the lessons learned and notions of the emerging research agenda set out above. The
proposal was accepted by Applied Psychology: An International Review (APIR). The call for papers will
be issued in summer 2013. Among other things, publishing the special issue with APIR hopefully
further strengthens the cross?cultural dimension of psychology of entrepreneurship research.
Evaluation
The small group meeting received good evaluations. Participants (N=15) would recommend this
meeting to their friends and colleagues and scored the meeting between 4 (agree) and 5 (strongly
agree) on all criteria: 1) meeting was useful, 2) meeting was enjoyable, 3) sufficient opportunity to
learn, 4) sufficient time for networking, 5) the expectation that this meeting will lead to the
establishment of a strong research network, 6) organization was good, 7) the facilitation and
moderation was good, 8) facilities were good, 9) food and drinks were good. The overall rating of the
meeting was 8.92 on a ten point scale.
Table 1. Evaluation of the small group meeting
Criterion rating
1) This conference was very useful. 4.57
2) I found this conference very enjoyable. 4.64
3) I learned a lot from this conference. 4.50
4) I would recommend this conference to my colleagues/other researchers in
the field.
4.57
5) This conference will contribute to the establishment of a strong research
network.
4.43
6) There was sufficient time for networking during this conference. 4.57
7) This conference was well organized. 4.86
8) The facilitation and moderation of the conference was good. 4.64
9) Facilities were good 4.36
10) Food and drinks were good 4.86
Overall evaluation (1?10) 8.92
The participants indicated the most valuable aspects of the small group meeting were the small
group size, the quality of the key?notes and paper presentations, plenty of time for discussion and
getting feedback on the papers. The close connection with the keynote speakers was especially
valued. Point for improvement was that participants wanted more time for leisure and informal
contact and time together to discuss future projects and collaboration.
Conclusion
From the meeting it can be concluded there are a growing number of good quality studies on topics
related to the psychology of entrepreneurship. The diversity of research topics as well as research
methods and scientific rigor of psychology of entrepreneurship studies has definitely improved since
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the publication of a special issue on the topic in EJWOP in 2000. However, the topics and theoretical
background of many studies is still rather management oriented, and studies could build even more
on psychological theories and address psychological processes. The meeting highlighted that
participants were typically the only ones in their research groups investigating entrepreneurship and
hence the opportunity for exchange with like?minded psychologists during this small group meeting
was extremely valued. We would like to see even more psychologists to apply their theories and
methods in the field of entrepreneurship, thus focusing on the individuals and teams generating
employment rather than solely at employees. In addition, the methodological approaches of
researchers working in the area of psychology of entrepreneurship would need to become more
diverse. Even though multi?level, multi?source and longitudinal designs are used more and more
often, many studies to date still rely on cross?sectional, single?source survey data. Finally, researchers
working in the field of psychology of entrepreneurship need to pay closer attention to cross?cultural
aspects of their work – i.e. studying the entrepreneur or entrepreneurial team in relation to their
context (business and cultural environment).
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