Determining factors for the creation of innovation-based ventures
Abstract This research aims to determine the impact of internal and external factors of Social Capital, Entrepreneurial Self-Efficacy, and Person-Entrepreneurship Fit in the transition of nascent entrepreneurs toward venture creation. For the development of this research, a sample of 500 entrepreneu...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
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SpringerOpen
2022-10-01
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| Series: | Journal of Innovation and Entrepreneurship |
| Subjects: | |
| Online Access: | https://doi.org/10.1186/s13731-022-00249-w |
| _version_ | 1828161347839328256 |
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| author | Adalberto Escorcia Jose Ramos-Ruiz Rohemi Zuluaga-Ortiz Enrique Delahoz-Domínguez |
| author_facet | Adalberto Escorcia Jose Ramos-Ruiz Rohemi Zuluaga-Ortiz Enrique Delahoz-Domínguez |
| author_sort | Adalberto Escorcia |
| collection | DOAJ |
| description | Abstract This research aims to determine the impact of internal and external factors of Social Capital, Entrepreneurial Self-Efficacy, and Person-Entrepreneurship Fit in the transition of nascent entrepreneurs toward venture creation. For the development of this research, a sample of 500 entrepreneurs located in Colombia who are creating a company was taken. The research methodology is hypothetical-deductive with a cross-sectional multiple causal correlation design with an explanatory scope and is divided into three stages: first, an exploratory analysis of the data relating to the study variables is carried out. Second, a principal component analysis is carried out. Finally, the third stage is the modelling using the Partial Least Squares-Path Modelling methodology. Among the most relevant findings, it is found that Social Capital is significant in explaining Person-Entrepreneurship Fit. In turn, Social Capital and Person-Entrepreneurship Fit are significant in explaining Entrepreneurial Self-Efficacy. Finally, the construct of Venture Creation is only significantly explained by Person-Entrepreneurship Fit. Consequently, it can be concluded that the influence of social and psychological variables within the business cycle is significant, and models and strategies must consider these elements to design tools that support the optimal development of start-ups within the business cycle, so that they consolidate as stable ventures. This study contributes to filling the research gap by focusing on the factors determining the entrepreneurial process beyond its initial phase. |
| first_indexed | 2024-04-12T00:37:12Z |
| format | Article |
| id | doaj.art-3d8ccae40bb84ce28d067594de44128a |
| institution | Directory Open Access Journal |
| issn | 2192-5372 |
| language | English |
| last_indexed | 2024-04-12T00:37:12Z |
| publishDate | 2022-10-01 |
| publisher | SpringerOpen |
| record_format | Article |
| series | Journal of Innovation and Entrepreneurship |
| spelling | doaj.art-3d8ccae40bb84ce28d067594de44128a2022-12-22T03:55:08ZengSpringerOpenJournal of Innovation and Entrepreneurship2192-53722022-10-0111112810.1186/s13731-022-00249-wDetermining factors for the creation of innovation-based venturesAdalberto Escorcia0Jose Ramos-Ruiz1Rohemi Zuluaga-Ortiz2Enrique Delahoz-Domínguez3Universidad del NorteUniversidad del NorteUniversidad del SinúUniversidad Tecnológica de BolívarAbstract This research aims to determine the impact of internal and external factors of Social Capital, Entrepreneurial Self-Efficacy, and Person-Entrepreneurship Fit in the transition of nascent entrepreneurs toward venture creation. For the development of this research, a sample of 500 entrepreneurs located in Colombia who are creating a company was taken. The research methodology is hypothetical-deductive with a cross-sectional multiple causal correlation design with an explanatory scope and is divided into three stages: first, an exploratory analysis of the data relating to the study variables is carried out. Second, a principal component analysis is carried out. Finally, the third stage is the modelling using the Partial Least Squares-Path Modelling methodology. Among the most relevant findings, it is found that Social Capital is significant in explaining Person-Entrepreneurship Fit. In turn, Social Capital and Person-Entrepreneurship Fit are significant in explaining Entrepreneurial Self-Efficacy. Finally, the construct of Venture Creation is only significantly explained by Person-Entrepreneurship Fit. Consequently, it can be concluded that the influence of social and psychological variables within the business cycle is significant, and models and strategies must consider these elements to design tools that support the optimal development of start-ups within the business cycle, so that they consolidate as stable ventures. This study contributes to filling the research gap by focusing on the factors determining the entrepreneurial process beyond its initial phase.https://doi.org/10.1186/s13731-022-00249-wEntrepreneurshipPartial Least SquaresVenture creationStart-upEntrepreneurial efficacy |
| spellingShingle | Adalberto Escorcia Jose Ramos-Ruiz Rohemi Zuluaga-Ortiz Enrique Delahoz-Domínguez Determining factors for the creation of innovation-based ventures Journal of Innovation and Entrepreneurship Entrepreneurship Partial Least Squares Venture creation Start-up Entrepreneurial efficacy |
| title | Determining factors for the creation of innovation-based ventures |
| title_full | Determining factors for the creation of innovation-based ventures |
| title_fullStr | Determining factors for the creation of innovation-based ventures |
| title_full_unstemmed | Determining factors for the creation of innovation-based ventures |
| title_short | Determining factors for the creation of innovation-based ventures |
| title_sort | determining factors for the creation of innovation based ventures |
| topic | Entrepreneurship Partial Least Squares Venture creation Start-up Entrepreneurial efficacy |
| url | https://doi.org/10.1186/s13731-022-00249-w |
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