Abstract

One billion people live on $1.25 per day and one in nine people cannot afford to eat every day (Oxfam, 2015). As the gap between rich and poor continues to diverge at incredible rates (Piketty, 2014), there is a critical need to understand the causes and potential solutions to this inequality. Prominent among the differences that comparative studies between developed and developing economies have revealed is the role of temporal orientation—i.e., the nature of individuals’ orientation toward time. Specifically, people in emerging economies are, on the whole, more short- term oriented (Harrison, 2000), focusing thoughts, time, and energy more heavily on the past and present than the future, compared to their wealthier counterparts. As such, individuals in developing economies are less likely to save income for unexpected expenses, spend time on longterm projects, or plan for future activities (Rutherford, 2009). Despite the plethora of studies at the macro- economic and cultural levels (Grondona, 2000; Hofstede & Minkov, 2010), little is known about the individual antecedents (i.e., locus of control, entrepreneurial self-efficacy, personality, family and demographic characteristics) and entrepreneurial outcomes (i.e., entrepreneurial orientation, changes in attitudes toward growth, business performance, and entrepreneurial resilience) of temporal orientation. This study addresses this gap.

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