A Dynamic Model of Entrepreneurial Uncertainty and Business Opportunity Identification: Exploration as a Mediator and Entrepreneurial Self-Efficacy as a Moderator

Antje Schmitt, Kathrin Rosing, Stephen X. Zhang and Michael Leatherbee

Entrepreneurship Theory and Practice, 2018, vol. 42, issue 6, 835-859

Abstract: This study focuses on the identification of business opportunities when entrepreneurs’ perceived level of environmental uncertainty changes. We suggest that within persons, exploration mediates this relationship and entrepreneurial self-efficacy moderates whether entrepreneurs explore more or less with increasing uncertainty. To test our moderated mediation model we conducted a monthly field study with 121 early-stage entrepreneurs. Multilevel regression analyses reveal that an increase in the level of perceived uncertainty within entrepreneurs predicted the identification of opportunities through exploration for entrepreneurs high in self-efficacy, but not for those low in self-efficacy. Entrepreneurial self-efficacy acts as a personal resource that helps entrepreneurs to transform increasing perceptions of uncertainty into exploration and opportunity identification.

Keywords: entrepreneurship; uncertainty; business opportunity identification; exploration; entrepreneurial self-efficacy (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (20)

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Persistent link: https://EconPapers.repec.org/RePEc:sae:entthe:v:42:y:2018:i:6:p:835-859

DOI: 10.1177/1042258717721482

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