The Expectations of New Business Founders: The New Zealand Case

Pinfold, John

doi:10.1111/0447-2778.00025

Cited by 63 publications

(36 citation statements)

References 6 publications

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“…10 There is evidence that 50% of inventors with very poor quality ideas continued to pursue efforts even when paid advice strongly argues against it (Åstebro, 2003, p. 237). Pinfold (2001) reports on the returns that entrepreneurs (actual business founders in New Zealand) expect and the level of risk they believe they are taking. His survey shows that in their eyes, starting a new business is an attractive proposition: considerable financial rewards coupled with many non-pecuniary benefits such as independence, personal development, and employment.…”

Section: Evidence Of Entrepreneurial Uomentioning

confidence: 99%

Unrealistic Optimism: Still a Neglected Trait

Coelho

2009

J Bus Psychol

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Unrealistic optimism is all around us, and it is a well documented psychological phenomenon. It has important implications in many economic and managerial contexts, yet economists, managers and policy makers still ignore it or fail to understand its characteristics. Here we investigate the psychology of over-optimism and bring to bear substantial psychological evidence that most people are prone to groundless optimism when faced with economic and management decisions. Although the policy and welfare implications of such a widespread phenomenon are vast, we argue that they have been neglected by policy makers. We end by challenging the current public policy trend of extending lending to business start-ups, on the grounds that it may create a real road to ruin.

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Section: Evidence Of Entrepreneurial Uomentioning

confidence: 99%

Unrealistic Optimism: Still a Neglected Trait

Coelho

2009

J Bus Psychol

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“…For example, a study in New Zealand indicated that business founders' high degree of optimism helped explain the high rate of business formation in the region (Pinfold, 2001). Also, entrepreneurs have been described as having an optimistic view of the future (Crane and Sohl, 2004).…”

Section: Immigrant Entrepreneurs' Optimismmentioning

confidence: 99%

The value of the psychological capital of immigrant entrepreneurs

Luthans

Norman

Jensen

2007

IJBG

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Immigrant entrepreneurs have always played a critical role in the economies of countries around the world. Although considerable attention has been devoted to the importance of economic and financial capital, we examine three overlooked forms of capital that may enhance the success of immigrant entrepreneurs: human, social, and psychological capital. Special attention is given to the positive psychological capital strengths of hope, self-efficacy/confidence, optimism, and resiliency. We propose that successful immigrant entrepreneurs are those who not only possess, but also seek to further develop and leverage this newly recognised form of capital in themselves and their associates.

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“…There are various motivations. Though the following does not by any means constitute a comprehensive list here are some of the key motivations: Independence (Williams, 2009), autonomy (Lumpkin, Cogliser, & Schneider, 2009), financial goals (Pinfold, 2001), being one's own boss (Mattis, 2000), and seeking a challenge (Petrakis, 2007).…”

Section: * Introductionmentioning

confidence: 99%

Adaptation of an entrepreneurial motivation scale into Spanish.

et al. 2016

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Título: Adaptación al español de una escala de motivación emprendedora. Resumen: Este estudio sigue el marco teórico propuesto por Robichaud sobre motivación emprendedora. El objetivo fue adaptar la escala original francesa de 17 ítems al español y analizar sus propiedades psicométricas. Los participantes del presente estudio fueron 981 empleados españoles (46.5% hombres y 53.5% mujeres). Después de llevar a cabo el análisis factorial exploratorio y el ESEM (RMSEA = .06; CFI = .95 y TLI = .95), se determinó una estructura compuesta de tres factores: Seguridad de la familia (α =.82), Independencia y autonomía (α =.83) y Motivaciones intrínse-cas (α =.77). Los tres factores muestran una fiabilidad adecuada. También se encuentran evidencias de validez respecto a una serie de correlatos externos y varias escalas que hacen alusión a la adicción al trabajo, la irritación y el burnout. La presente escala puede resultar adecuada para identificar adecuadamente la motivación emprendedora. Palabras clave: motivación emprendedora; escalas; validez; empleo.Abstract: This study follows the theoretical framework put forward by Robichaud on entrepreneurial motivation. The objective was to adapt the original French scale of 17 items into Spanish and to analyze its psychometric properties. The participants in the present study were 981 Spanish employees (46.5 % men and 53.5 % women). After carrying out exploratory factor analyses and ESEM (RMSEA = .06; CFI = .95 and TLI = .95), revealed a structure comprised of three factors: Family security (α =.82), Independence and autonomy (α =.83), and Intrinsic motivations (α =.77). These three factors displayed adequate reliability. We also found evidence of validity with regard to a series of external correlates and various scales that have to do with workaholism, irritation and burnout. The present scale may prove useful for adequately identifying entrepreneurial motivation.

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The Expectations of New Business Founders: The New Zealand Case

Cited by 63 publications

References 6 publications

Unrealistic Optimism: Still a Neglected Trait

Unrealistic Optimism: Still a Neglected Trait

The value of the psychological capital of immigrant entrepreneurs

Adaptation of an entrepreneurial motivation scale into Spanish.

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