Personality traits and self-efficacy as predictors of business performance: A longitudinal study
Authors: ['Magdalena Kaczmarek', 'Piotr Kaczmarek-Kurczak']
Year: 2016
Methodology
- Sample: 81
- Design: longitudinal
- Data: Psychometric assessments (FFM and self-efficacy scales), Business performance indices (7 months and 12 months post-launch)
Factors Extracted (6)
Extraversion [anecdotal] — Significant predictor of performance
Neuroticism [anecdotal] — Significant predictor (inverse relationship)
Entrepreneurial Self-Efficacy [anecdotal] — Strongest predictor; mediator of personality traits
Openness to Experience [anecdotal] — Higher than general population; weak predictor of performance
Conscientiousness [anecdotal] — Higher than general population; weak predictor of performance
General Self-Efficacy [anecdotal] — Higher than general population
Key Findings
- Nascent entrepreneurs in creative industries score significantly lower in neuroticism and higher in extraversion, openness, and conscientiousness compared to the general population.
- Entrepreneurial self-efficacy acts as a mediator between personality traits (specifically neuroticism and extraversion) and business performance.
- Personality traits (FFM) are significant but weak predictors of performance on their own, with self-efficacy being a more robust proximal predictor.
Limitations
- Small sample size (n=81) may limit generalizability.
- Study focused specifically on cultural and creative industries, which may differ from other sectors.
- The follow-up period (one year) is relatively short for assessing long-term business survival and success.
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