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Self‐efficacy exerts a positive impact on several self‐regulatory functions to support goal accomplishment and performance. However, in contexts that are characterized by uncertainty and ambiguity, such as entrepreneurship, there might be a tipping point to this relationship, prompting calls for deeper investigations on the nonlinear effect. In par...
Citations
... Efforts to find the will and ability from within oneself are called self-efficacy. Uy et al (2024), explain that a person's conviction in their ability to effectively carry out and realize the targeted behaviour is known as their self-efficacy. Insole models, such as role models through perspective and mastery of experience, also accompany this. ...
This ponder looks at the impact of college bolster, family back, and self-efficacy on the entrepreneurial intrigued of East Java PMW beneficiary understudies. A quantitative strategy was utilized in this think-about. The investigation test comprised 248 PMW beneficiaries. Coincidental Inspecting carried out test determination. Information investigation was carried out utilizing SEM-PLS through the SmartPLS 3.2.9 program. The study shows that (1) College back has no critical impact on entrepreneurial intrigue. (2) Family bolster encompasses a positive impact on entrepreneurial intrigue. (3) Self-efficacy incorporates a positive impact on entrepreneurial intrigue. The study shows that superior colleges cultivate students' entrepreneurial curiosity. Family back and self-efficacy are imperative components in empowering entrepreneurial intrigue among understudies. Suggestions and headings for future investigation are also discussed.
... I theorize that self-promotion catalyzes initiative-taking and proactive adaptation by eliciting greater environmental feedback (Bandura, 1991). Enhanced information exchanges support subgoal enactment during goal striving, clarifying focus and motivating efforts (Brown et al., 2001;Uy et al., 2024). ...
... Feedback helps form challenging goals and stimulates intentional actions, enhancing agentic behavior (Bandura, 1986(Bandura, , 2001. Exposing oneself to scrutiny through selfpromotion, even at the risk of criticism, can help form and specify goals through others' evaluative reactions and foster active goal pursuit (Bandura, 1991;Uy et al., 2024). Conversely, entrepreneurs who rarely self-promote are less likely to receive swift, valuable feedback and may rely on delayed business outcomes (e.g., sales figures) to guide their actions. ...
... I propose that this enhanced engagement manifests in further ideas and recommendations. This more valuable feedback can, in turn, trigger agentic behavior by identifying key points of attention (Brown et al., 2001) and encouraging greater effort (Uy et al., 2024). However, while I find evidence for my theory, Study 1 can only assume the mechanism at play, as the data do not allow for testing targets' reactions to entrepreneurial self-promotion. ...
Research in impression management has primarily examined how self-promotion affects one’s image, neglecting the potential benefits of feedback on the underlying image that is being impression managed. This study bridges this gap by integrating impression management with social–cognitive theory to explore how self-promotion can enhance feedback from targets, thereby stimulating initiative-taking and proactive adaptation in the actor. Analyzing five-wave monthly survey data from 574 entrepreneurs, I find a positive relationship between self-promotion and experimentation, which positively associates with business-model adaptation. This indirect effect is observed exclusively among entrepreneurs confident in their capabilities, highlighting the critical role of self-efficacy. Furthermore, results from three scenario-based experiments demonstrate that higher levels of self-promotion elicit greater engagement from targets, with responses containing more constructive elements, such as ideas or concerns, thereby supporting my theory. My findings underscore the richer feedback generated from self-promotion, suggesting it plays a critical role in facilitating agentic behavior. This contributes to a more nuanced understanding of self-promotion’s impact, proposing new avenues for future studies in impression management and entrepreneurship.
... However, ESE has a dark side, which is until now largely ignored in entrepreneurship literature (Newman et al., 2019). The few studies that illuminate this dark side, associate very high ESE with overconfidence and point to the risk of entrepreneurs stopping to seek feedback and engage in trial-and-error (Lindsley et al., 1995;Uy et al., 2024), while this behavior is crucial for reducing the ambiguity and uncertainty of the entrepreneurial context (Minniti, 2004;Shepherd and Gruber, 2021). This study aims to provide a more granular perspective by positing that, rather than high ESE, the issue of overconfidence is more accurately explored by measuring inaccurate or unwarranted ESE. ...
... Simon and Shrader (2012) demonstrated how high certainty boosts new product introductions, but reduces the likelihood of new product success. Finally, Uy et al. (2024) found that very high ESE reduces active feedback seeking, unless it is accompanied by high state error mastery orientation, i.e. the belief that mistakes are inevitable and provide opportunities for learning (Frese and Keith, 2015). However, none of these studies use comparisons between perceived and actual (objectively measured) performance, nor do their data provide insight into the prevalence of overconfidence among (aspiring or novice) entrepreneurs compared to the general population. ...
... However, overconfidence is detrimental in the early stages of planning and preparing for goal achievement (Dunning, 2011) and more pronounced overconfidence can lead to risky behavior and poor performance (Karpen, 2018;Robbins and Beer, 2001). This is in line with studies that found a negative correlation between new venture performance and entrepreneurs displaying high self-esteem or over-optimism (Baron et al., 2016;Lindsley et al., 1995;Uy et al., 2024). In education, overconfidence is generally associated with a complacent attitude, with students being content to "breeze" through their studies without putting in much effort or adequately monitoring their performance (Dunlosky and Rawson, 2012). ...
Purpose
Entrepreneurial self-efficacy (ESE) has a dark side largely ignored in the field of entrepreneurship education. Research in educational psychology indicates that self-efficacy is prone to misjudgment, with novice learners often displaying overconfidence. Furthermore, this misjudgment is gendered; studies suggest that men are more likely to display overconfidence and less likely to correct erroneous self-assessments. However, realistic self-assessments are essential for effective learning strategies, pivotal for performance in the ambiguous entrepreneurial context. Therefore, this study explores whether entrepreneurship education helps mitigate overconfidence, and if this impact varies by gender.
Design/methodology/approach
Common in educational psychology, but new in the field of entrepreneurship education, a calibration design captures discrepancies between perceived and actual performance. Data from before and after an introductory undergraduate entrepreneurship course ( N = 103) inform descriptive analyses, statistical comparison tests and calibration plots.
Findings
As expected, nearly all novice students showed significant overconfidence. Curiously, gender difference was only significant at the end of the course, as overconfidence had decreased among female students and increased among male students.
Originality/value
The paper advocates a more nuanced stance toward ESE, and introduces ESE accuracy as a more fitting measure of entrepreneurial overconfidence. The findings flag the common use of self-perception as a proxy for actual competence, and evoke new research avenues on (gender differences in) learning motivations of aspiring entrepreneurs. Finally, the study shares guidance for entrepreneurship educators on fostering a “healthier” level of self-efficacy for better entrepreneurial learning.
... Another aspect of diversity is that research is predominantly conducted on entrepreneurship from advanced economies. For instance, only one study in this special issue samples entrepreneurs from an emerging economy (the Philippines; Uy et al., 2023), with the remaining studies investigating what has been labeled "WEIRD" entrepreneurs, that is, entrepreneurs from Western, Educated, Industrialized, Rich, Democratic countries (Henrich et al., 2010). ...
This special issue of Personnel Psychology is devoted to micro‐based research on entrepreneurship, an emerging field that heretofore has been highly influenced by scholars in economics, strategy, and sociology. A theme of this special issue is that to further advance research on entrepreneurship, we need to develop a greater understanding of the role of individuals and teams in entrepreneurial activity from an OB/HR perspective. Accordingly, the goals of our overview article are twofold. First, we summarize the articles in the special issue, which address a number of important micro topics, including HRM practices in the entrepreneurial firm, leadership, identity, teams, well‐being, diversity/equity/inclusion, and careers and hiring. These articles are based on a variety of research methods and data sources from multiple nations. Second, we identify additional important topics for OB/HR scholars who are interested in conducting research on entrepreneurship. They include a global perspective, the bright versus dark side of entrepreneurship, entrepreneurship and STEM workers, and genetic and biological determinants. We conclude with a consideration of methodological and research design issues.
... I theorize that self-promotion catalyzes initiative-taking and proactive adaptation by eliciting greater environmental feedback (Bandura, 1991). Enhanced information exchanges support subgoal enactment during goal striving, clarifying focus and motivating efforts (Brown et al., 2001;Uy et al., 2024). ...
... Feedback helps form challenging goals and stimulates intentional actions, enhancing agentic behavior (Bandura, 1986(Bandura, , 2001. Exposing oneself to scrutiny through selfpromotion, even at the risk of criticism, can help form and specify goals through others' evaluative reactions and foster active goal pursuit (Bandura, 1991;Uy et al., 2024). Conversely, entrepreneurs who rarely self-promote are less likely to receive swift, valuable feedback and may rely on delayed business outcomes (e.g., sales figures) to guide their actions. ...
... I propose that this enhanced engagement manifests in further ideas and recommendations. This more valuable feedback can, in turn, trigger agentic behavior by identifying key points of attention (Brown et al., 2001) and encouraging greater effort (Uy et al., 2024). However, while I find evidence for my theory, Study 1 can only assume the mechanism at play, as the data do not allow for testing targets' reactions to entrepreneurial self-promotion. ...
... Thus, to avoid looking bad to the self and in front of others, entrepreneurs may avoid feedback seeking. Some evidence suggests that symbolic and ego goals may not influence feedback seeking when the seeker anticipates feedback with high informational value (Hays & Williams, 2011;Uy et al., 2023). However, entrepreneurs often do not know whether they will receive valuable feedback, especially when engaging with a new feedback source. ...
Emerging research highlights interpersonal feedback seeking as an important activity for entrepreneurs to aid them in creating, leading, and managing new organisations. In a context of multiple and sometimes competing goals, entrepreneurs face ongoing decisions about why, when, how, from whom and even whether to seek feedback with important consequences for themselves and their ventures. To elucidate these decisions, we conceptualise interpersonal feedback seeking as a dynamic process with six main components: goals, planning, action, positive and negative consequences, a feedback loop, and context. Thus, we account for why entrepreneurs may not seek feedback, how an entrepreneur’s feedback seeking varies based on previous feedback seeking interactions and the situation, and how entrepreneurs differ in their feedback seeking based on the context.
The B Corp certification is the outcome of a voluntary third-party certification process and attests that a venture adheres to certain social and environmental standards. Using propensity score matching on a global dataset of 1,231 B Corp certified ventures and 1,231 comparable non-certified ventures, we examine how an initial B Corp certification influences a venture’s likelihood of securing funding from entrepreneurial finance investors. Drawing on signaling theory, we find that the initial adoption of the B Corp certification significantly increases a venture’s likelihood of securing funding. We further show that higher B Corp certification scores, indicative of higher signal strength, are more effective in attracting investments. Our findings remain robust when applying an instrumental variables approach, and when considering different types of investments and investors. Notably, our further analyses suggest that the effect of a B Corp certification is especially pronounced for attracting funding from impact investors. Overall, our results provide a nuanced understanding of how signaling and signal strength, through the adoption of a voluntary sustainability standard, influence the funding of entrepreneurial ventures and offer a set of practical implications.
Despite the undisputed importance of feedback-seeking for new venture advancement, little is known about the circumstances that make it effective. In this study, it is proposed that the collective psychological ownership of new venture teams over the new venture (i.e. this is ‘OUR’ venture) can help leverage the value and bear the costs of self-improvement feedback-seeking behaviour (SI-FSB), amplifying the expected positive relationship between new venture teams’ SI-FSB and new venture performance. Insights from a survey-based study involving 166 new ventures support the hypotheses. Contributing to the nascent feedback-seeking research in the new venture context, this study shows that SI-FSB matters and suggests that new venture teams should keep their collective psychological ownership over their new venture strong.