Explicating failure among nascent entrepreneurs in West Sumatra: The nexus of psycho-economic factors and opportunistic behavior
This paper investigates and discusses individuals’ internal circumstances as factors that may cause entrepreneurial failure, which consists of psycho-economic phenomenon and opportunistic behavior of individuals. The study is a quantitative study, and it operates relational analysis that relates exi...
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| Format: | Article |
| Language: | English |
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Cognitione Foundation for the Dissemination of Knowledge and Science
2020-01-01
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| Series: | Journal of Entrepreneurship, Management and Innovation |
| Subjects: | |
| Online Access: | https://jemi.edu.pl/uploadedFiles/file/all-issues/vol16/issue2/JEMI_Vol16_Issue2_2020_Article2.pdf |
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| _version_ | 1841564766238146560 |
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| author | Hafiz Rahman Eri Besra Nurhayati |
| author_facet | Hafiz Rahman Eri Besra Nurhayati |
| author_sort | Hafiz Rahman |
| collection | DOAJ |
| description | This paper investigates and discusses individuals’ internal circumstances as factors that may cause entrepreneurial failure, which consists of psycho-economic phenomenon and opportunistic behavior of individuals. The study is a quantitative study, and it operates relational analysis that relates existing arguments regarding psycho-economic factors to entrepreneurial failure. The study further adds and analyses the construct of opportunistic behavior as another possible factor that may cause entrepreneurial failure. The sample of the study is 1541 young entrepreneurs in West Sumatra Province, Indonesia, who have experienced failures in their previous businesses. The analysis was undertaken by using multiple and partial regression analysis in which the statistical protocol was operated. It is found that psycho-economic factors, together with opportunistic behavior of individuals in a lesser to a greater degree, have caused entrepreneurial failure to the context of the study. The study also implies and argues that opportunistic behavior may not only be viewed as a source of entrepreneurial success, as it also contributes to entrepreneurial failure. This finding clearly demonstrates the originality and value of this study since it argues that opportunistic behavior can also be viewed as a factor – apart from the other existing psycho-economic factors (deterministic, voluntaristic, and emotive) – that can cause entrepreneurial failure. The study further suggests that strengthening entrepreneurial personality, characteristics and psychological aspects should be a focus for the Indonesian government in promoting and developing young-nascent entrepreneurs. |
| format | Article |
| id | doaj-art-35de52b91c654902bf4f70e647437b2d |
| institution | Kabale University |
| issn | 2299-7326 |
| language | English |
| publishDate | 2020-01-01 |
| publisher | Cognitione Foundation for the Dissemination of Knowledge and Science |
| record_format | Article |
| series | Journal of Entrepreneurship, Management and Innovation |
| spelling | doaj-art-35de52b91c654902bf4f70e647437b2d2025-01-02T22:26:15ZengCognitione Foundation for the Dissemination of Knowledge and ScienceJournal of Entrepreneurship, Management and Innovation2299-73262020-01-01162376610.7341/20201622Explicating failure among nascent entrepreneurs in West Sumatra: The nexus of psycho-economic factors and opportunistic behaviorHafiz Rahman0Eri Besra1Nurhayati2Department of Management, Faculty of Economics, Universitas Andalas, Kampus Universitas Andalas, Limau Manis, Padang 25163 West Sumatra, IndonesiaDepartment of Management, Faculty of Economics, Universitas Andalas, Kampus Universitas Andalas, Limau Manis, Padang 25163 West Sumatra, IndonesiaDepartment of Business Administration, Politeknik Negeri Padang, Limau Manis, Padang 25163 West Sumatra, IndonesiaThis paper investigates and discusses individuals’ internal circumstances as factors that may cause entrepreneurial failure, which consists of psycho-economic phenomenon and opportunistic behavior of individuals. The study is a quantitative study, and it operates relational analysis that relates existing arguments regarding psycho-economic factors to entrepreneurial failure. The study further adds and analyses the construct of opportunistic behavior as another possible factor that may cause entrepreneurial failure. The sample of the study is 1541 young entrepreneurs in West Sumatra Province, Indonesia, who have experienced failures in their previous businesses. The analysis was undertaken by using multiple and partial regression analysis in which the statistical protocol was operated. It is found that psycho-economic factors, together with opportunistic behavior of individuals in a lesser to a greater degree, have caused entrepreneurial failure to the context of the study. The study also implies and argues that opportunistic behavior may not only be viewed as a source of entrepreneurial success, as it also contributes to entrepreneurial failure. This finding clearly demonstrates the originality and value of this study since it argues that opportunistic behavior can also be viewed as a factor – apart from the other existing psycho-economic factors (deterministic, voluntaristic, and emotive) – that can cause entrepreneurial failure. The study further suggests that strengthening entrepreneurial personality, characteristics and psychological aspects should be a focus for the Indonesian government in promoting and developing young-nascent entrepreneurs.https://jemi.edu.pl/uploadedFiles/file/all-issues/vol16/issue2/JEMI_Vol16_Issue2_2020_Article2.pdfdeterministic-voluntaristic-emotive factorsentrepreneurial failurepsycho-economic factorsopportunistic behavior |
| spellingShingle | Hafiz Rahman Eri Besra Nurhayati Explicating failure among nascent entrepreneurs in West Sumatra: The nexus of psycho-economic factors and opportunistic behavior Journal of Entrepreneurship, Management and Innovation deterministic-voluntaristic-emotive factors entrepreneurial failure psycho-economic factors opportunistic behavior |
| title | Explicating failure among nascent entrepreneurs in West Sumatra: The nexus of psycho-economic factors and opportunistic behavior |
| title_full | Explicating failure among nascent entrepreneurs in West Sumatra: The nexus of psycho-economic factors and opportunistic behavior |
| title_fullStr | Explicating failure among nascent entrepreneurs in West Sumatra: The nexus of psycho-economic factors and opportunistic behavior |
| title_full_unstemmed | Explicating failure among nascent entrepreneurs in West Sumatra: The nexus of psycho-economic factors and opportunistic behavior |
| title_short | Explicating failure among nascent entrepreneurs in West Sumatra: The nexus of psycho-economic factors and opportunistic behavior |
| title_sort | explicating failure among nascent entrepreneurs in west sumatra the nexus of psycho economic factors and opportunistic behavior |
| topic | deterministic-voluntaristic-emotive factors entrepreneurial failure psycho-economic factors opportunistic behavior |
| url | https://jemi.edu.pl/uploadedFiles/file/all-issues/vol16/issue2/JEMI_Vol16_Issue2_2020_Article2.pdf |
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