The relationship of entrepreneurial traits, skill, and motivation to subsequent venture growth.
Previous research on entrepreneurship as well as goal, social-cognitive, and leadership theories has guided hypotheses regarding the relationship between entrepreneurial traits and skill (passion, tenacity, and new resource skill) and situationally specific motivation (communicated vision, self-efficacy, and goals) to subsequent venture growth. Data from 229 entrepreneur-chief executive officers and 106 associates in a single industry were obtained in a 6-year longitudinal study. Structural equation modeling revealed a web of relationships that impact venture growth. Goals, self-efficacy, and communicated vision had direct effects on venture growth, and these factors mediated the effects of passion, tenacity, and new resource skill on subsequent growth. Furthermore, communicated vision and self-efficacy were related to goals, and tenacity was related to new resource skill.
Department of Management and Organization, University of Maryland, College Park 20742, USA. jrbaum@rhsmith.umd.edu
J Robert
JR
Baum
Edwin A
EA
Locke
D000124:Achievement; D000288:Administrative Personnel / Q000523:psychology*; D001108:Architecture; D003142:Communication; D003659:Decision Making, Organizational; D017598:Efficiency, Organizational / Q000706:statistics & numerical data; D016520:Entrepreneurship / Q000706:statistics & numerical data; D006040:Goals; D006801:Humans; D007221:Industry / Q000706:statistics & numerical data; D007857:Leadership; D015233:Models, Statistical; D009042:Motivation; D010551:Personality; D020377:Self Efficacy; D013223:Statistics as Topic