DOI: 10.5176/2251-1970_BizStrategy18.114
Authors: Andreas Hinz and Stefan Philippi
Abstract: Exploring causal relationships between self-efficacy and effectuation can provide valuable insights into entrepreneurial behaviour. Antecedents of entrepreneurial selfefficacy are examined including performance accomplishments, vicarious experience, means and entrepreneurial experience. Different effectual behaviours such as forming partnerships, exploiting contingencies, addressing affordable loss and using experimentation are studied. Based on earlier work on the subject, this article reviews self-efficacy and effectuation as well as a conceptual model that links these two concepts. The reviewed model highlights the impact of the antecedents of entrepreneurial self-efficacy as well as the impact of entrepreneurial self-efficacy on effectual behaviours. Going beyond the conceptual nature of earlier work, this article presents empirical findings in order to contribute to the discussion and build understanding of the matter. Semistructured interviews with ten entrepreneurs were conducted in five countries across Southeast Asia and Europe. Acting as leaders of the founding teams, these entrepreneurs were all working on the implementation of their projects and participated in an innovation competition programme.
Keywords: Entrepreneur, behaviour, self-efficacy, effectuation
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