Chance Non-Control and Entrepreneurship

Abstract

The personality of entrepreneurs can have a large influence on entrepreneurial startups. The general locus of control, which is an element of the personality of entrepreneurs, is considered to be critical for the creation of entrepreneurial startups. Despite the generally acknowledged importance of one’s locus of control for entrepreneurial intentions and new firm startups, a research gap exists because less emphasis has been given to external locus of control, in particular chance control. Chance non-control can be defined as a person’s disbelief in chance- or luck-based outcomes. In this study, a country-moderated hypothesis about the relationship between a person’s chance non-control and his or her entrepreneurship (activities or intentions) was developed and empirically tested by using data collected through a structured questionnaire from 645 students in three countries (China, Finland and Slovenia). Regression analysis was used to test the hypothesis. Based on the findings, which are partially in support of the moderated hypothesis, recommendations for research and practice are proposed. The key contribution of the study is the explanation of the role of chance non-control in entrepreneurship and the notion the relationship between chance non-control and entrepreneurship tends to be moderated depending on uncertainty avoidance.

Impact of collaborative, entrepreneurship education on the financial risk taken by university students

“…Stewart and Roth’s (2001) meta-analysis showed that compared to managers, entrepreneurs tend to have a greater proclivity to take risks. However, this does not mean they have an extreme risk-taking propensity (De Vries, 1977); rather, entrepreneurs usually engage in moderate risk-taking (Antoncic et al, 2015). There are essentially three different theoretical frameworks on risk-taking (Byrnes et al, 1999).…”