The comfort zone of the value circumplex for entrepreneurship: a structural analysis

Purpose – The purpose of this paper is to extend the attitudinal approach to entrepreneurial intentions by using a structural analysis to explore overlooked personal values as the antecedents of entrepreneurial attitude. Based on the widely adopted value system proposed by Schwartz, this study argues that while one cluster of personal values is positively correlated with entrepreneurial attitude that leads to entrepreneurial intention, another cluster of personal values is negatively correlated with entrepreneurial attitude. Design/methodology/approach – Questionnaire responses obtained from a sample of 276 MBA were analyzed using structural equation models to examine the influences of values on entrepreneurial intentions via entrepreneurial attitude. Findings – The results of this study demonstrate that personal values of self-direction, stimulation, achievement, and universalism are all positively correlated with entrepreneurial attitude, which together constitute a comfort zone for entrepreneurship, whereas values in the opposite end of the circumplex including benevolence, tradition, conformity, security, and power are negatively correlated with entrepreneurial attitude. The values that discourage the formation of an entrepreneurial attitude also counter the positive effect of entrepreneurial attitude on intention, making the relationship between entrepreneurial attitude and intention contingent upon value conflicts. Originality/value – This study regards entrepreneurship as a career development and contributes to the entrepreneurship study by differentiating the influences of a vital construct, i.e., personal values, which should not be regarded as a universalism. The value circumplex with a comfort and discomfort zone developed by this study can serve as a platform to help build the view on entrepreneurial intentions in terms of personal values.