Determinants of Success of Businesses of Female Entrepreneurs in Taiwan

Abstract

This paper deals with the topic area “female entrepreneurship,” and the research focuses on the determinants of female entrepreneurs’ business success and sustainability, together with their impact on Taiwan’s economic development. According to the Morgan Stanley Capital International (MSCI) and the Financial Times Stock Exchange (FTSE) classification, Taiwan can be considered an emerging economy. Various liberal and social theories and Hofstede’s cultural dimensions were analyzed to develop some hypotheses, including some relevant success factors connected to female entrepreneurship in Taiwan. The Global Entrepreneurship Monitor (GEM) and the Female Entrepreneurship Index (FEI) were relevant for the data analysis because the research was based on secondary data with 1098 observations, and a logistic regression model was performed. The factors of fear of failure and personal network correlated significantly to female entrepreneurs’ business success in Taiwan and the level of education had no significant correlation. Further research is recommended to include additional factors to achieve a higher accuracy of the model. A comparison of Taiwan with another region/country might also deliver some interesting insights.

Testing the Influence of Self-Efficacy and Demographic Characteristics among International Students on Entrepreneurial Intention in the Context of Hungary

“…In regard to demographic characteristics associated with the entrepreneurial intention of international students in Hungary, most of the tested demographic variables show a statistically relevant influence on it. This corroborates with the extant entrepreneurship literature by George et al, Mustafa et al and Schröder et al [28,85,87], who provide robust support for the notion that personal characteristics have an immense impact on entrepreneurial intention. Based on specific results, international students with entrepreneurial experience and family business backgrounds in Hungary display higher entrepreneurial intention.…”

“…In a similar line, Cavallo et al [86] support that people are increasingly aware of the importance of the interaction between personal attributes and the surrounding environment since different aspects of entrepreneurial development are widely affected by this interaction. Additionally, the transition from employee to business owner is a key step in self-realization, and the decision to own and develop a business is determined by many personality traits and challenges [87]. The research conducted by Fuller et al [88] discloses that it is essential to consider narrow personality traits and a broad sense of self-efficacy when examining the basis of potential entrepreneurs' self-efficacy.…”

“…Females are more concerned about the difficulties and workload of entrepreneurship [90] and have less confidence, are more nervous, reluctant, and worried about starting a business [68]. Moreover, compared with men, women are more afraid of failure, risk aversion, lack of understanding of their abilities and desire for a balance between life and work, limiting the expansion of enterprise-scale, resulting in a relatively low-risk tendency [87]. Through a study of Chinese vocational college students, Wen et al [91] conclude that the total score of entrepreneurial self-efficacy of male students is significantly higher than that of female students, indicating that male students are more confident in entrepreneurial activities than female students.…”

Exploring the Impact of Studying abroad in Hungary on Entrepreneurial Intention among International Students

“…Schröder et al [43] research confirms the importance of having a personal network related to successful entrepreneurship. Due to the unfamiliarity of the environment, many student entrepreneurs urgently need to get in touch with new people and rely on existing possible connections [44].…”

Factors Affecting Success of Entrepreneurship in Agribusinesses: Evidence from the City of Mashhad, Iran

“…Educational support for entrepreneurship development has had a positive effect on entrepreneurial self-efficacy [42]. Professional experience and education are essential success factors for entrepreneurship and have a great impact on the development of entrepreneurial skills and self-employment [43].…”