A dynamic model of entrepreneurial uncertainty and business opportunity identification: Exploration as a mediator and entrepreneurial self-efficacy as a moderator
Date
2018
Authors
Schmitt, A.
Rosing, K.
Zhang, S.X.
Leatherbee, M.
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Journal article
Citation
Entrepreneurship: Theory and Practice, 2018; 42(6):835-859
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Antje Schmitt, Kathrin Rosing, Stephen X. Zhang, Michael Leatherbee
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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.
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© The Author(s) 2017