A dynamic account of self-efficacy in entrepreneurship

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We present a dynamic account of self-efficacy in entrepreneurship that integrates social-cognitive and control theory. According to our dynamic account, variability in self-efficacy energizes action because it involves self-motivation and discrepancy perception as competing motivational processes. We argue that variability and the average level in self-efficacy nascent entrepreneurs display over time support the enactment of entrepreneurial intentions and predict business ownership. The proposed positive effect of variability further implies an inverted u-shaped relationship between self-efficacy at a single point in time and business ownership. To test these hypotheses, we repeatedly assessed entrepreneurial self-efficacy of nascent African entrepreneurs during a 12-week entrepreneurship training program (total N = 241). Twelve months later, we assessed business ownership (total N = 190). We found that variability and the average level in entrepreneurial self-efficacy participants displayed during the training program were positively related to business ownership. Furthermore, for participants with strong entrepreneurial intentions, we found an inverted u-shaped relationship between entrepreneurial self-efficacy after the training program and business ownership. The study suggests that social-cognitive and control theory highlight different facets of self-regulation that both need to be accounted for to explain goal achievement in entrepreneurship. (PsycINFO Database Record (c) 2019 APA, all rights reserved).
Original languageEnglish
JournalJournal of Applied Psychology
Volume105
Issue number5
Pages (from-to)487-505
Number of pages19
ISSN0021-9010
DOIs
Publication statusPublished - 05.2020

DOI