WHY ARE OPTIMISTIC ENTREPRENEURS SUCCESSFUL? AN APPLICATION OF THE REGULATORY FOCUS THEORY
Does entrepreneurial optimism affect business performance? Using a unique data set based on repeated survey design, we investigate this relationship empirically. Our measures of ‘optimism’ and ‘realism’ are derived from comparing the turnover growth expectations of 133 owners-managers with the actual outcomes one year later. Our results indicate that entrepreneurial optimists perform significantly better in terms of profits than pessimists. Moreover, it is the optimist-realist combination that performs best. We interpret our results using the regulatory focus theory.
Year of publication: |
2008-01
|
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Authors: | Aidis, Ruta ; Mickiewicz, Tomek ; Sauka, Arnis |
Institutions: | Centre for Comparative Economics, School of Slavonic and East European Studies |
Saved in:
freely available
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