FINANCIAL SELF-EFFICACY OF ENTREPRENEURS AND PERFORMANCE

Drasko Veselinovic, Jasna Auer Antoncic, Bostjan Antoncic and Dalma Lorena Grbec
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Drasko Veselinovic: Slovenian Business and Research Association (SBRA), Brussels, Belgium
Jasna Auer Antoncic: University of Primorska, Faculty of Management, Koper, Slovenia
Bostjan Antoncic: University of Ljubljana, School of Economics and Business, Kardeljeva pl. 17, SI-1000 Ljubljana, Slovenia
Dalma Lorena Grbec: University of CEMA, Buenos Aires, Argentina

Journal of Developmental Entrepreneurship (JDE), 2022, vol. 27, issue 01, 1-18

Abstract: In most developing countries, small and medium-sized enterprises (SMEs) are an essential segment of the economic composition and crucial players for fostering innovation, growth and prosperity. Despite wide agreement among researchers in entrepreneurship and SME management that entrepreneurial and general self-efficacy can positively impact business formation and growth, one aspect of entrepreneurial self-efficacy, i.e., financial self-efficacy, has not been linked to SME performance in terms of SME profitability and growth, or satisfaction of the entrepreneur with their company. This study fills this research gap by uncovering new knowledge about the relationship between the financial self-efficacy of the entrepreneur and elements of SME performance. Data were collected through a structured questionnaire in one European country. Hypotheses were conceptually developed and checked using regression analysis. The results of this research reveal new knowledge about the relationship between financial self-efficacy and performance. The entrepreneur’s financial self-efficacy can matter for the profitability of SMEs, as well as for the growth and satisfaction of micro-SMEs and certain differently defined groups of entrepreneurs or companies.

Keywords: Financial self-efficacy; entrepreneur; SME performance; growth; profitability; satisfaction (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:wsi:jdexxx:v:27:y:2022:i:01:n:s1084946722500029

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DOI: 10.1142/S1084946722500029

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