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Why are Optimistic Entrepreneurs Successful? An Application of the Regulatory Focus Theory

Ruta Aidis (), Tomasz Mickiewicz and Arnis Sauka

No 85, UCL SSEES Economics and Business working paper series from UCL School of Slavonic and East European Studies (SSEES)

Abstract: Does entrepreneurial optimism affect business performance? Using a unique data set based on repeated survey design, we investigate this relationship empirically. Our measures of ‘optimism’ and ‘realism’ are derived from comparing the turnover growth expectations of 133 owners-managers with the actual outcomes one year later. Our results indicate that entrepreneurial optimists perform significantly better in terms of profits than pessimists. Moreover, it is the optimist-realist combination that performs best. We interpret our results using the regulatory focus theory.

Keywords: Entrepreneurship; Optimism; Venture Growth; Regulatory Focus Theory; Latvia (search for similar items in EconPapers)
Pages: 25 pages
Date: 2008-01
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Working Paper: WHY ARE OPTIMISTIC ENTREPRENEURS SUCCESSFUL? AN APPLICATION OF THE REGULATORY FOCUS THEORY (2008) Downloads
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