Personality traits and self-efficacy as predictors of business performance: A longitudinal study

Magdalena Kaczmarek; Piotr Kaczmarek-Kurczak

doi:10.18290/rpsych.2016.19.1-4en

Magdalena Kaczmarek SWPS University of Social Sciences and Humanities, Faculty of Psychology
Piotr Kaczmarek-Kurczak Kozminski University, Warszawa

DOI: https://doi.org/10.18290/rpsych.2016.19.1-4en

Keywords: FFM personality traits; self-efficacy; entrepreneurship

Abstract

The aim of this study was to analyze the role of the five-factor model (FFM) of personality and self-efficacy as predictors of business performance in nascent entrepreneurs in cultural and creative industries (n = 81). The study was prospective and longitudinal – the assessment of personality preceded the start of a self-owned business by the participants – and an assessment of business performance was conducted twice: seven months and abouta year after starting the business. The results showed that the participants wereless neurotic, more extraverted, more open to experience, and more conscientious and had a stronger sense of general self-efficacy in comparison to the general population. The FFM traits were weak but significant predictors of business performance; the strongest predictive traits were extraversion, neuroticism, and entrepreneurial self-efficacy. Some analyses including neuroticism and extraversion supported the hypothesized mediating role of self-efficacy in the relationship between personality traits and some indices of business performance. The results are discussed in the context of previous studies, including meta-analyses.

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