Financial self-efficacy of entrepreneurs and performance

Draško Veselinovič (Author), Jasna Auer (Author), Boštjan Antončič (Author), Dalma Lorena Grbec (Author)

Abstract

In most developing countries, small and medium-sized enterprises (SMEs) are an essential segment of the economic composition and crucial players for fostering innovation, growth and prosperity. Despite wide agreement among researchers in entrepreneurship and SME management that entrepreneurial and general self-efficacy can positively impact business formation and growth, one aspect of entrepreneurial self-efficacy, i.e., financial self-efficacy, has not been linked to SME performance in terms of SME profitability and growth, or satisfaction of the entrepreneur with their company. This study fills this research gap by uncovering new knowledge about the relationship between the financial self-efficacy of the entrepreneur and elements of SME performance. Data were collected through a structured questionnaire in one European country. Hypotheses were conceptually developed and checked using regression analysis. The results of this research reveal new knowledge about the relationship between financial self-efficacy and performance. The entrepreneur's financial self-efficacy can matter for the profitability of SMEs, as well as for the growth and satisfaction of micro-SMEs and certain differently defined groups of entrepreneurs or companies.

Keywords

podjetništvo;majhna in srednja podjetja;poslovanje podjetja;financiranje;uspešnost poslovanja;entrepreneurship;SMEs;company performance;financing;business efficiency;

Data

Language:	English
Year of publishing:	2022
Typology:	1.01 - Original Scientific Article
Organization:	UL EF - Faculty of Economics
UDC:	658
COBISS:	104426755
ISSN:	1084-9467
Views:	113
Downloads:	20
Average score:	0 (0 votes)
Metadata:

Other data

Secondary language:	Slovenian
Secondary keywords:	podjetništvo;majhna in srednja podjetja;poslovanje podjetja;financiranje;uspešnost poslovanja;
Type (COBISS):	Article
Embargo end date (OpenAIRE):	2023-05-01
Pages:	19 str.
Volume:	ǂVol. ǂ27
Issue:	ǂiss. ǂ1
Chronology:	2022
DOI:	10.1142/S1084946722500029
ID:	15219919