Abstract

The usefulness of entrepreneurship-specific personality traits in the explanation of entrepreneurs’ success has been discussed controversially in the literature (e.g., Carland, Hoy, and Carland 1988). Although previous research has contributed to our knowledge by examining various entrepreneurial personality traits that directly influence a firm’s performance, there is a lack of clarity on the mediating role of a firm’s strategic orientation and strategy in this relationship. The Giessen- Amsterdam model of entrepreneurial success (Rauch and Frese 2007) posits that, an entrepreneur’s personality traits, human capital, and goals indirectly influence entrepreneurial success through a firm’s strategy. Strategies are a main determinant of actions (Rauch and Frese 2007), leading to firm performance, which is then evaluated by the owner-manager deciding whether to pursue the strategy. The main purpose of this study is to meta-analytically identify the process through which owner-managers’ entrepreneurial traits influence firm performance and test whether three specific entrepreneurial traits (achievement motivation, locus of control, and self-efficacy) influence firm performance through the sequential mediating effect of an owner-manager led firm’s entrepreneurial orientation and innovation strategy.

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