Entrepreneurial Passion, Cognitive Bias, and Technology Commercialization of New Ventures

2020 ◽  
pp. 148-163
Author(s):  
Biaoan Shan ◽  
Shuanghui Yan ◽  
Xifeng Lu ◽  
Datian Bi
Keyword(s):  
Cognitive Bias ◽  
Cognitive Theory ◽  
New Ventures ◽  
Theoretical Research ◽  
Illusion Of Control ◽  
Technology Commercialization ◽  
Risk Propensity ◽  
Mediating Role ◽  
Entrepreneurial Passion ◽  
The Relationship

This chapter utilizes cognitive theory to explain how entrepreneurial passion influences the speed of new venture's technology commercialization and explore the roles of cognitive bias (illusion of control and risk propensity) played in this process. The results show that both entrepreneurial passion and cognitive bias positively impact on the speed of technology commercialization. The authors also find that illusion of control and risk propensity play a partial mediating role in the relationship between entrepreneurial passion and the speed of technology commercialization. This conclusion can make up for the gap of existing theoretical research.

Family support and entrepreneurial passion: The mediating role of entrepreneurs' psychological capital

2021 ◽  
Vol 49 (3) ◽  
pp. 1-15
Author(s):  
Jian-Li Gao ◽  
Dong-Sheng Li ◽  
Mary-Louise Conway
Keyword(s):  
Family Support ◽  
Structural Equation ◽  
Psychological Capital ◽  
Equation Modeling ◽  
Mediating Role ◽  
Entrepreneurial Passion ◽  
And Performance ◽  
The Impact ◽  
The Relationship

Entrepreneurial passion is seen as a valuable predictor of entrepreneurs' behavior and performance. We explored what makes entrepreneurs passionate by adopting a qualitative research method from a social support perspective. To test our hypotheses we conducted a survey with 287 young entrepreneurs in China. Using structural equation modeling we studied the impact of three types of support from the family on entrepreneurial passion. The results show that financial support and social capital support had a stronger influence on entrepreneurial passion than did emotional support. Further, psychological capital played a partial mediating role in the relationship between family support and entrepreneurial passion. This study enhances the integrity of previous research conclusions on entrepreneurial passion and, in particular, provides further insight into the development of nascent entrepreneurs and their new businesses.

Entrepreneurial Grit: Insights and Applications for New Ventures

2021 ◽  
Author(s):  
Marcus Wolfe
Keyword(s):  
Risk Taking ◽  
New Ventures ◽  
New Venture ◽  
Future Research ◽  
Venture Performance ◽  
Entrepreneurial Passion ◽  
The Face ◽  
The Relationship ◽  
Entrepreneurial Careers

The pursuit of entrepreneurship is often characterized by high levels of struggle and adversity, and even those who ultimately succeed in their entrepreneurial endeavors routinely experience failures and setbacks along the way. Therefore, it is likely that individuals who are more skilled at coping with, and conquering, such obstacles in their quest for success are more apt to enter, and be successful at, entrepreneurial careers. While several factors contribute to an individual’s ability to persevere through adversity and to continue to work to accomplish long-term goals, individual grit has garnered an increasing level of attention as a key element in such persistence, particularly in entrepreneurial contexts. Grit, conceptualized as an individual’s passion and perseverance in the pursuit of accomplishing long-term goals, can play several roles in the entrepreneurial process. While grit is a potential outcome of entrepreneurial passion, it also has important associations with several key entrepreneurial outcomes. For instance, given that entrepreneurship is linked with risk-taking, grit is an asset for individuals who chase entrepreneurial opportunities. Higher levels of risk incur a greater likelihood of failure, and the ability to persist with entrepreneurial initiatives in the face of failures is potentially bolstered by high levels of grit. Furthermore, persistence against adversity can often translate into improved venture performance as a result of entrepreneurs’ continued, focused efforts at developing and improving their new venture. Furthermore, grit may play an even more important role for individuals who face heightened levels of adversity during their entrepreneurial careers. Women and younger individuals often experience unique challenges that their counterparts who are men or older do not have to face. Therefore, having high levels of grit may be an advantage in women and youth. While the relationship between grit and entrepreneurship has gained considerable momentum as a topic of scholarly interest, there are important avenues available for future research to further develop understanding of the topic.

Cognitive Biases, Risk Perception, and Individual's Decision to Start a New Venture

2018 ◽  
Vol 9 (3) ◽  
pp. 14-29 ◽  
Author(s):  
Salma Zaiane ◽  
Fatma Ben Moussa
Keyword(s):  
Risk Perception ◽  
Cognitive Biases ◽  
New Venture ◽  
Illusion Of Control ◽  
Mediating Role ◽  
Correlation And Regression Analysis ◽  
Reduce Risk ◽  
Relationship Of ◽  
The Relationship

The purpose of this article is to investigate the relationship of overconfidence and illusion of control towards the start of new venture, taking in consideration the mediating role of risk perception in the context of Tunisia. This article examines students' responses to surveys based on a teaching case titled “Optical Distortion, Inc.” The authors tested hypotheses by correlation and regression analysis. The results show that the perception towards risk associated with new venture plays an important role in decision-making. Moreover, they find that overconfidence and illusion of control reduce risk perception associated to the decision to start a venture. While overconfidence directly affects the decision to start a venture and indirectly through its effect on reducing the risk perception, illusion of control has neither a direct nor an indirect impact on that. These results partially confirm those of Simon show that the mediation exists but partially.

scholarly journals Interactional Justice and Counterproductive Work Behaviors: The Mediating Role of Negative Emotions

2012 ◽  
Vol 40 (8) ◽  
pp. 1341-1355 ◽  
Author(s):  
Jeanne Le Roy ◽  
Marina Bastounis ◽  
Jale Minibas -Poussard
Keyword(s):  
Cognitive Theory ◽  
Negative Emotions ◽  
Interactional Justice ◽  
Counterproductive Work Behaviors ◽  
Work Behaviors ◽  
Insurance Company ◽  
Mediation Effects ◽  
Informational Justice ◽  
Mediating Role ◽  
The Relationship

Perceptions of interactional justice have been shown to explain why employees engage in counterproductive work behaviors (CWB; Bies, 2005). However, the processes involved in this relationship have yet to be clarified. In this study, we drew on the cognitive theory of emotions and extended work published on the mediating role in this relationship (Fox & Spector, 1999) by conducting a survey with insurance company employees (N = 187). Data analyses confirmed that CWB are significantly predicted by both low perceived interactional justice and negative emotions. In addition, 2 significant mediation effects were observed: (a) perceived anger mediates the relationship between low perceived interpersonal justice and active CWB, and (b) perceived fear mediates the relationship between low perceived informational justice and passive CWB. The theoretical and organizational implications of these findings are discussed.

Entrepreneurial Passion and Behaviors: Opportunity Recognition As a Mediator

2017 ◽  
Vol 45 (7) ◽  
pp. 1211-1220 ◽  
Author(s):  
Jiani Bao ◽  
Xiaohu Zhou ◽  
Ying Chen
Keyword(s):  
Empirical Study ◽  
New Ventures ◽  
Opportunity Recognition ◽  
Self Identity ◽  
Entrepreneurial Passion ◽  
Positive Feelings ◽  
Using Data ◽  
Entrepreneurial Activities ◽  
The Relationship ◽  
Practical Implications

We examined the relationships among entrepreneurial passion, opportunity recognition, and entrepreneurial behaviors. Entrepreneurial passion includes the intense positive feelings originating from engagement in entrepreneurial activities and the centrality of these activities for entrepreneurs' self-identity. The empirical study was conducted using data from 195 entrepreneurs in new Chinese companies. Results showed that entrepreneurial passion had a significant impact on opportunity recognition and entrepreneurial behaviors. Further, opportunity recognition partly mediated the relationship between entrepreneurial passion and entrepreneurial behaviors. Entrepreneurs with entrepreneurial passion are, therefore, more likely than others are to identify opportunities and start new ventures. Theoretical and practical implications for entrepreneurship are discussed.

scholarly journals Risk Propensity, Gambling Cognition and Gambling Behavior: The Role of Family and Peer Influences

2016 ◽  
Vol 6 (1) ◽  
pp. 77 ◽  
Author(s):  
Jianbin Situ ◽  
Ziying Mo
Keyword(s):  
Learning Style ◽  
Gambling Behavior ◽  
Peer Influences ◽  
Risk Propensity ◽  
Mediating Role ◽  
Local Residents ◽  
The Relationship ◽  
Moderating Role ◽  
Practical Implications

<p>Drawing on learning style theory (Curry, 1983), the present study examines the influence of risk propensity on gambling behavior by focusing on the mediating role of gambling cognition and the moderating role of both familial monitoring and peer gambling. Applying a survey of 207 local residents and tourists in Macau, we found that risk propensity positively related to gambling behavior through its influences on facilitating gambling cognition controlled by familial monitoring; and gambling cognition also positively linked to gambling behavior moderated by peer gambling. Moreover, the moderated path analysis suggests that familial monitoring weakened risk propensity’s direct influence on gambling cognition, and peer gambling strengthened the relationship between gambling cognition and gambling behavior. Theoretical and practical implications of the results are discussed.</p>

SOCIAL NETWORKS, COGNITION AND RISK RECOGNITION IN NEW VENTURES: EVIDENCE FROM CHINA

2015 ◽  
Vol 20 (02) ◽  
pp. 1550012 ◽  
Author(s):  
JUNPING YANG ◽  
JING ZHANG
Keyword(s):  
Social Networks ◽  
New Ventures ◽  
Network Size ◽  
Illusion Of Control ◽  
Risk Propensity ◽  
Structural Holes ◽  
Risk Recognition ◽  
Processing Theory ◽  
Cognitive Information Processing ◽  
Cognitive Information

Although risk has always been at the center of entrepreneurship, research on risk recognition in new ventures is limited. Applying cognitive information-processing theory, we develop a theoretical framework that explores the interactive influences of entrepreneurs' social networks and their cognitive characteristics on the outcomes of risk recognition. We test the framework on a sample of 226 Chinese entrepreneurs. The results show that network size, tie strength and structural holes enhance risk recognition outcomes and that cognition (i.e. risk propensity and illusion of control) generally reduces such effects, except in the case of illusion of control, which has no effect on structural holes.

scholarly journals The Impact of Perceived Training Utility on Transfer of Training: The mediating role of Motivation to Transfer

2018 ◽  
Vol 6 (1) ◽  
pp. 7-12
Author(s):  
Kamran Iqbal ◽  
◽  
Muhammad Arif ◽  
Muhammad Zahid ◽  
◽  
...  
Keyword(s):  
Transfer Of Training ◽  
Banking Sector ◽  
Cognitive Theory ◽  
Training Data ◽  
Mediating Role ◽  
Motivation To Transfer ◽  
Relationship Of ◽  
The Impact ◽  
The Relationship

The purpose of this study was to examine the mediating role of motivation between the relationship of perceived training utility and transfer of training. Data were obtained from 215 employees working in the banking sector. SPSS and AMOS statistical software were used to test the hypothesized model. Consistent with social cognitive theory, results suggested a significant positive relationship of perceived training utility with motivation to transfer and transfer of training. The results further revealed that the relationship between perceived training utility and transfer of training had an indirect effect via Motivation to transfer. This study has made a significant theoretical contribution to the literature by exploring the mechanism through which perceived training utility affects transfer of training. This study will help HRD professionals to understand the importance of perceived training utility in transfer of training.

scholarly journals The influence of entrepreneurial passion in the relationship between creativity and entrepreneurial intention

2021 ◽  
Author(s):  
Majid Murad ◽  
Cai Li ◽  
Muhammad Munir ◽  
Sheikh Farhan Ashraf ◽  
Surhbi Arora
Keyword(s):  
Higher Education ◽  
Structural Equation ◽  
Entrepreneurial Intention ◽  
Equation Modeling ◽  
Mediating Role ◽  
Entrepreneurial Passion ◽  
The Impact ◽  
The Relationship ◽  
Practical Implications

Abstract This article aims to identify the impact of creativity on entrepreneurial intention with the mediating role of entrepreneurial passion. This study applied the SEM-structural equation modeling technique to test the hypotheses on a sample of 390 university students from Pakistan. The findings of the study revealed that creativity positively and significantly influenced entrepreneurial intention. The results also indicated that entrepreneurial passion partially mediates in the relationship between creativity and entrepreneurial intention. The results of the study made an innovative contribution to Pakistan’s higher education sector, researchers, and policymakers to unlock the hidden potential of its youth and further contribute to designing the relevant practical implications.

scholarly journals The Mediating Role of Risk Perception among Cognitive Biases towards Decision to Start a New Venture

2015 ◽  
Vol 54 ◽  
pp. 88-95
Author(s):  
Maheen Butt ◽  
Nadia Jamil ◽  
Rabia Nawaz
Keyword(s):  
Risk Perception ◽  
Risk Perceptions ◽  
Cognitive Biases ◽  
Negative Impact ◽  
New Venture ◽  
Illusion Of Control ◽  
Mediating Role ◽  
Overconfidence Bias ◽  
The Relationship

The Objective of the study is to investigate the relationship of overconfidence bias and illusion of control bias towards the start of new venture, with the mediating role of risk perception in context of Pakistan. To understand the relationship, this study developed and tested hypothesis by correlation and regression analysis. This study’s sample consisted of 170 students pursuing a Masters of Business Administration. The students’ responses to a survey based on a case study regarding a decision to start a venture were examined. This study found illusion of control and risk perceptions have significant effect on decision to start new venture. Conversely, overconfidence bias has insignificant relationship with decision to start new venture. The positive and negative impact of biases and perceiving low levels of risk suggest the importance of exploring the area of venture formation. As this study has incorporated two biases but many other biases should also be considered that effect human decision making process like self-efficacy, availability heuristics, law of small numbers and escalation of commitment.

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