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International Entrepreneurship and Management Journal
Published in: International Entrepreneurship and Management Journal 2/2021

21-02-2020

Does entrepreneurs’ psychology affect their business venture success? Empirical findings from North Africa

Authors: Elhem Ben Fatma, Ezzeddine Ben Mohamed, Léo-Paul Dana, Sami Boudabbous

Published in: International Entrepreneurship and Management Journal | Issue 2/2021

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Abstract

This paper discusses the effect of psychological traits on success. We empirically explore the effect of entrepreneurs’ psychological biases on their venture success. Using a sample of Tunisian entrepreneurs and the cognitive mapping technique, our results indicate that psychology does affect business venture success. Especially, the entrepreneurial overconfidence and optimism biases can largely affect the new venture success. However, other variables, such as capital and social networks, also have strong effects on new venture success in this country. We control for gender differences and their effects on our empirical findings. For this purpose, we divide our full sample to constitute two sub-samples using the entrepreneur’s gender. We find that the behavioral factors, especially overconfidence, optimism and hope, have a great impact on new venture launched by female entrepreneurs compared to male entrepreneurs. In fact, the success of new venture launched by male entrepreneurs is less affected by behavioral factors and only the overconfidence bias can have an influence and their new venture success remains dependent to their age, experience and education.
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Metadata
Title
Does entrepreneurs’ psychology affect their business venture success? Empirical findings from North Africa
Authors
Elhem Ben Fatma
Ezzeddine Ben Mohamed
Léo-Paul Dana
Sami Boudabbous
Publication date
21-02-2020
Publisher
Springer US
Published in
International Entrepreneurship and Management Journal / Issue 2/2021
Print ISSN: 1554-7191
Electronic ISSN: 1555-1938
DOI
https://doi.org/10.1007/s11365-020-00644-3

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