The resilience of the entrepreneur. Influence on the success of the business. A longitudinal analysis

• Published in: Journal of economic psychology Vol. 42; pp. 126 - 135
• Main Authors: Ayala, Juan-Carlos, Manzano, Guadalupe
• Format: Journal Article
• Language: English
• Published: Amsterdam Elsevier B.V 01.06.2014; Elsevier; Elsevier Sequoia S.A
• Subjects: Applied psychology; Biological and medical sciences; Economic behaviour; Economic psychology; Entrepreneur; Entrepreneurs; Entrepreneurship; Fundamental and applied biological sciences. Psychology; Gender; Gender differences; Longitudinal; Longitudinal studies; Miscellaneous; Optimism; Organizational behavior; Organizational behaviour; Psychology. Psychoanalysis. Psychiatry; Psychology. Psychophysiology; Resilience; Small and medium sized enterprises; Small business; Studies; Success; Success factors; Western Europe; Women; Spain; Small business; Longitudinal; M190; 3120; Entrepreneur; Gender; Success; Resilience; Human; Sex; Building contractor; Follow up study; Economic aspect; Achievement
• ISSN: 0167-4870; 1872-7719
• DOI: 10.1016/j.joep.2014.02.004

•We analyse the effect of resilience of small enterprise owners on their success.•We measure the predictive validity of resilience factors through a longitudinal study.•Predictive validity of resilience factors differ by gender.•The key factor in predicting the success of the entrepreneur is resourcefulness.•The predictive power of optimism is greater for women than for men. The literature regarding entrepreneurship suggests that the resilience of entrepreneur may help to explain entrepreneurial success. In this article, we test whether a connection exists between resilience dimensions and the success of established entrepreneurs in the Spanish tourism sector, and whether any gender-specific differences exist. Resilience of subjects was measured 5years before the follow-up data was collected. The results show that the three dimensions of resilience (hardiness, resourcefulness and optimism) help to predict entrepreneurial success. The key factor in predicting the success of the entrepreneur is resourcefulness. This could be said about both men and women. However, the ability to predict entrepreneurial success of those who have hardiness and optimism is different for men and women. The influence of optimism on the success of their businesses is greater for women than for men.