Impulsivity and entrepreneurial perseverance: toward an empirical account and entrepreneurship-prone profile

Abstract

PurposeAlthough emerging research has linked impulsivity with the decision to start a business, scholars have yet to draw implications for later-stage entrepreneurial outcomes. Furthermore, the authors have still to derive a parsimonious profile of the multidimensional impulsivity construct which can be positively linked to the entrepreneurial context. This paper proposes and tests a model to explain how impulsivity may relate to entrepreneurial perseverance—a construct typically regarded as a pivotal later-stage entrepreneurial outcome.Design/methodology/approachData were collected from 807 owner-managers using an online survey and augmented with the novel use of longitudinal data from the central registrar of companies in South Africa. Covariance-based structural equation modeling and a D2 indexing approach for forming an entrepreneurship-prone impulsivity profile were employed.FindingsResults show that multidimensional impulsivity is significantly, but differentially, related to entrepreneurial perseverance; the perceived desirability of entrepreneurship mediates this effect for two of the four impulsivity dimensions. In particular, the authors find evidence that insufficiency of deliberation enhances, while urgency hinders, perseverance—reflected behaviorally through the filing of annual returns over a three-year period. Furthermore, the authors derive a new entrepreneurship-prone impulsivity profile which begins to suggest an intraindividual profile of impulsivity traits which may be beneficial to the entrepreneurial context.Originality/valueBy demonstrating how impulsivity impacts entrepreneurial perseverance over time, this paper advances emerging research on the relationship between impulsivity and entrepreneurship, while contributing to explaining why the perseverance decision is not simply a matter of venture pecuniary benefits and feasibility.

UPPS impulsivity, entrepreneurial self-efficacy and entrepreneurial intentions among university students: ADHD symptoms as a moderator

“…Regarding the links between UPPS impulsivity and entrepreneurship, previous studies illustrated inconsistent results. For example, Wiklund Pietersen and Botha (2021) reported that sensation seeking, insufficiency of persistence and urgency were directly related to perceived desirability of entrepreneurship. Doan et al (2021) revealed that only sensation-seeking and urgency were significantly involved in entrepreneurial intentions.…”

“…Moreover, several recent studies reported that impulsivity dimensions are beneficial to certain early-stage entrepreneurial outcomes (Doan et al, 2021;Fisch et al, 2021;Pietersen and Botha, 2021;Wiklund et al, 2017). Particularly, scholars revealed that four subscales of UPPS impulsivity, including sensation seeking, lack of premeditation, lack of perseverance and urgency, can help explain why individuals with ADHD symptoms demonstrate a preference to entering entrepreneurial activities (Pietersen and Botha, 2021).…”

“…Moreover, several recent studies reported that impulsivity dimensions are beneficial to certain early-stage entrepreneurial outcomes (Doan et al, 2021;Fisch et al, 2021;Pietersen and Botha, 2021;Wiklund et al, 2017). Particularly, scholars revealed that four subscales of UPPS impulsivity, including sensation seeking, lack of premeditation, lack of perseverance and urgency, can help explain why individuals with ADHD symptoms demonstrate a preference to entering entrepreneurial activities (Pietersen and Botha, 2021). Impulsivity has been described as a tendency to behave hastily "to internal or external stimuli" without examining the outcome of such behaviors carefully (Moeller et al, 2001).…”

“…For example, while some studies reported that lack of perseverance significantly affected entrepreneurial preference and perceived desirability of entering entrepreneurial activities (e.g. Wiklund et al, 2017;Pietersen and Botha, 2021), others argued that the correlation between lack of perseverance and entrepreneurship was not statistically significant (e.g. Doan et al, 2021).…”

“…Jena, 2020;Hassan et al, 2020;Maheshwari, 2021), thus, individuals with ADHD symptoms can be especially beneficial from entrepreneurial education (Doan et al, 2021). Indeed, ADHD symptoms as a moderator entrepreneurial education can help persons with ADHD symptoms recognize and use their entrepreneurial potentials as well as encourage their desirability to engage in entrepreneurial activities (Pietersen and Botha, 2021). Educators and policymakers therefore should have the appropriate strategy to foster entrepreneurial activities among youths, especially for people with ADHD symptoms.…”