26/05/20081Work, organizational and personnel psychology Predicting multidimensional entrepreneurial success from personality Vantilborgh Tim, Joly Jeroen,

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  • 26/05/2008*Work, organizational and personnel psychologyPredicting multidimensional entrepreneurial success from personalityVantilborgh Tim, Joly Jeroen, Pepermans Roland Leuven, 26 mei 2008

    Work, organizational and personnel psychology

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    Entrepreneurship

    The entrepreneur uses his personality and nothing but his personality (Schumpeter, 1911, p417)

    26/05/2008* Work, organizational and personnel psychology

    Work, organizational and personnel psychology

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    26/05/2008* Entrepreneurship: An IntroductionEntrepreneurs : drive behind economic growthIncreased research in entrepreneurshipFirm level : entrepreneurial orientation (EO) as a strategyIndividual level : personality traits & entrepreneurshipNeed for a predictive instrument (individual level)What differentiates successful from unsuccessful entrepreneurs ? Psychological aspect of entrepreneurship, based on traits

    Work, organizational and personnel psychology

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    DefinitionsWho/what is an entrepreneur ?Founder / owner societal improver Operationally: venture number (VAT, TAV , BTW)What is success ?Objective factors: financial turnover & employment ranking within sectorSubjective factors (self-reported): satisfaction with several aspects

    Entrepreneurship is more than just EOEO at individual levelNumber of traits associated with entrepreneurship (differentiating)

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    Questionnaire26/05/2008* Work, organizational and personnel psychology

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    Method26/05/2008* Work, organizational and personnel psychology

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    Item pool + Pilot TestingLiterature & Interviews9 existing questionnaires (99 items)Expert judges (assessing item pool quality)Interview entrepreneurs (N=9)

    Pilot testingRandom sample (N=202)Reliability & Item analysis Alpha score, uni-dimensionality, distribution of items Exploratory FA 52 Items

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    Main StudySamplesEntrepreneurs sample (N=218)Control sample (N=600)Measures Independent variables: 9 personality factors + subfactorsDependent variables Objective successRelative financial turnover rank within sectorRelative employment rank within sectorSubjective success (alpha=.82)Satisfaction with finances, venture evolution, own evolution, contribution to society, work/family balance

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    Work, organizational and personnel psychology

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    ResultsRetesting measurement models:Subdimensions found:Risk-aversion & Risk-seekingSocial & Instrumental Self-Efficacy (SE)Internal & External Locus of ControlAll other measurement models proved stable

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    Results (2)Known-group validity:Sign. differences found for 8 dimensions between entrepreneurs and non-entrepreneurs (p