Analysis of the influence of emotions on the decision-making of entrepreneurs using neurotechnologies

Juan Camilo Serna-Zuluaga (), David Juárez-Varón (), Ana Mengual-Recuerda () and Ana Medina-López ()
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Juan Camilo Serna-Zuluaga: Universitat Politècnica de València
David Juárez-Varón: Universitat Politècnica de València
Ana Mengual-Recuerda: Universitat Politècnica de València
Ana Medina-López: Universidad Rey Juan Carlos

International Entrepreneurship and Management Journal, 2024, vol. 20, issue 3, No 21, 2169-2186

Abstract: Abstract This study examines the influence of emotional factors on entrepreneurial decision-making, specifically focusing on early-stage entrepreneurs and those with more years of experience in the entrepreneurial process. The aim is to understand how emotional intensity affects business decisions at different stages of entrepreneurship. Neuroqualitative interviews were conducted using a stratified sample of entrepreneurs. The methodology included semi-structured interviews. Galvanic Skin Response (GSR) technology was employed to simultaneously measure participants’ emotional levels during the interviews. The results revealed significant differences in emotional levels between novice and experienced entrepreneurs concerning the analysed emotional factors. Novice entrepreneurs exhibited higher levels of anxiety and fear, especially in questions not previously anticipated, while experienced entrepreneurs showed confidence and a more optimistic outlook, particularly on topics related to long-term consolidation and revenue forecasting. This study highlights originality by demonstrating the importance of emotional factors in entrepreneurial decision-making and their variation over time in the entrepreneurial process. The use of GSR technology in neuroqualitative interviews adds a unique dimension by providing an objective assessment of entrepreneurs’ emotional levels, thus complementing the qualitative richness of verbal responses. These findings contribute to a deeper understanding of emotional complexity in business decision-making and emphasize the need to consider these aspects in entrepreneurship support strategies.

Keywords: Entrepreneurship; Decision-making; Temporal evolution; Emotions; Neuroqualitative; Neuroentrepreneurship (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1007/s11365-024-00960-y

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