A Meta-Analysis of Achievement Motivation Differences between Entrepreneurs and Managers

Abstract

As a result of conflicting conclusions in primary studies, most narrative reviews have questioned the role of personality in explaining entrepreneurial behavior. We examine one stream of this research by conducting a meta-analysis of studies that contrast the achievement motivation of entrepreneurs and managers. The results indicate that entrepreneurs exhibit higher achievement motivation than managers and that these differences are influenced by the entrepreneur's venture goals, by the use of U.S. or foreign samples, and, to a less clear extent, by projective or objective instrumentation. Moreover, when the analysis is restricted to venture founders, the difference between entrepreneurs and managers on achievement motivation is substantially larger and the credibility intervals do not include zero.Because of conflicting findings in primary studies, most scholars summarizing the literature have not identified a recognizable pattern of supportive results for a relationship between personality and entrepreneurial status, particularly differences between entrepreneurs and managers. Consequently, narrative reviewers have often concluded that personality is not a predictor of entrepreneurial behavior (e.g., Brockhaus and Horwitz 1986), and some have even suggested abandoning this avenue of research (see Perry 1990;Chell 1985).

Personality Traits of Entrepreneurs: A Review of Recent Literature

“…Zhao and Seibert (2006) find that entrepreneurs and managers are similar in dependability, but entrepreneurs score significantly higher than managers in the achievement facet. In a meta-analysis of 41 studies, Collins et al (2004) also conclude that individuals who pursue entrepreneurial careers are significantly higher in achievement motivation than individuals who pursue other types of careers, and Stewart and Roth (2007) similarly conclude that entrepreneurs are more achievement-oriented than managers. It is frequently hypothesized that those with high achievement motivation are drawn to environments in which success is more closely attributed to their own efforts, rather than a larger institutional setting in which business success or failure is less a function of one's individual efforts.…”

“…Without observing and measuring the wealth of individuals, we are liable to mismeasure the role of risk tolerance for decisions. This concern over omitted variable bias is true for individual studies, and it is compounded when comparing studies drawn from countries and settings that have differing cultural factors that are also known to influence personality traits, such as entrepreneurial motivation and achievement orientation (Stewart and Roth, 2007). Finally, survey-based analyses 12…”

“…Comparing four Austrian studies, Frank et al (2007) conclude that the need for achievement selects individuals for entry into entrepreneurship. Turning to comparative analyses across countries, Stewart and Roth (2007) conclude from a meta-analysis of 18 studies and 3,272 subjects that entrepreneurs exhibit a higher achievement motivation than managers regardless of country or type of instrumentation ("projective" or "objective"). 5 Further differences are also evident across sub-groups of venture founders.…”

An Analysis of the Determinants of Entrepreneurial Intentions among Students: A Romanian Case Study

“…As a business involves many risks, an entrepreneur must have the will to face them and manage them [38,[48][49][50]. The entrepreneurs' capacity of taking risks might be superior even to that of managers, who are known as risk lovers [51,52]. Jackson [53] defined the propensity to take risks as the individual's ability to make certain decisions and actions even under conditions of uncertainty.…”

The impact of life values on entrepreneurial intentions of students in Serbia

“…7, NO. 1, 2017, 28-34 29 motivation for achievement, which can be explained by the entrepreneur's venture goals (Stewart Jr. & Roth, 2007).…”