Self-Efficacy in Disrupted Environments: COVID-19 as a Natural Experiment. (May 2023)

• Record Type: Journal Article
• Authors: Bergenholtz, Carsten; Klyver, Kim; Vuculescu, Oana
• Other Names: Batjargal Bat guest-editor.; Jack Sarah guest-editor.; Mickiewicz Tomasz guest-editor.; Stam Erik guest-editor.; Stam Wouter guest-editor.; Wennberg Karl guest-editor.
• Is Part Of: Entrepreneurship theory and practice. Volume 47:Number 3(2023)
• Page Start: 724
• Page End: 750
• Publication Date: 2023-05
• Subjects: Entrepreneurship -- self-efficacy -- entrepreneurial intention -- Covid-19 -- uncertainty -- disrupted environment -- efficacy expectation; Small business -- Periodicals; New business enterprises -- Periodicals; Entrepreneurship -- Periodicals; 658.421
• DOI: 10.1177/10422587211046548
• Languages: English
• ISSNs: 1042-2587

Abstract

In two studies, we investigate whether the link between entrepreneurial self-efficacy and entrepreneurial intentions depends on outcome expectations. In Study 1, we exploit the COVID-19-induced lockdown as a natural experiment in a two-wave student sample. We compare the efficacy–intention link in survey responses submitted right before and right after the lockdown. In Study 2, we conceptually replicate and extend the findings via an online vignette experiment. Together, these studies show that a disruption of stable institutionalized outcome expectations implying increasing risk and uncertainty makes self-efficacy a weaker predictor of entrepreneurial intentions, particularly among those with pessimistic perceptions.