An Exploratory Study of Antecedents of Entrepreneurial Decision-Making Logics: The Role of Self-Efficacy, Optimism, and Perspective Taking

Yuli Zhang, Lianguang Cui, Guangqi Zhang, Saras Sarasvathy and Ramesh Anusha

Emerging Markets Finance and Trade, 2019, vol. 55, issue 4, 781-794

Abstract: This study explores the impacts of psychological factors on entrepreneurs’ preferences for causal and effectual decision-making logics. Data were collected in the USA and China. The research findings suggest that self-efficacy was positively related to the control decision-making logic and the prediction decision-making logic both in the USA and China. Optimism was negatively related to the prediction decision-making logic in the USA while there was no significant relationship between optimism and the prediction decision-making logic in China. We also found that perspective taking was positively related to the prediction decision-making logic both in the USA and China. Meanwhile, perspective taking was positively related to the control decision-making logic in China. Our findings indicate that psychological factors have impacts on entrepreneurs’ preferences for causal and effectual decision-making logics. Our research contributes to extend effectuation by exploring psychological antecedents and demonstrating that effectual logics can also stem from an increase in psychological factors.

Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:mes:emfitr:v:55:y:2019:i:4:p:781-794

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DOI: 10.1080/1540496X.2018.1478283

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