The impact of entrepreneurs’ decision-making style on SMEs’ financial performance

Sumedha Weerasekara · Ramudu Bhanugopan

30 citations0/0 files storedJournal of Entrepreneurship in Emerging Economies

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Entrepreneurship Studies and Influences Financial Literacy and Behavior Migration, Ethnicity, and Economy

Abstract

Purpose This study aims to investigate the impact of entrepreneurs’ decision-making styles on enterprise performance and suggests several entrepreneurial ecosystems – factors are impacting this relationship. The authors extend this line of work by examining how regional entrepreneurial culture, educational institutional support and business and social networks mediating the relationship between entrepreneurs’ decision-making style and small medium enterprises (SME)s’ financial performance. Design/methodology/approach The data were collected through an e-survey of SME owners in New South Wales, Australia. This study developed a model combining a set of entrepreneurial ecosystem factors, entrepreneurs’ decision-making styles and SMEs’ financial performance. Data were analysed using partial least square structural equation modelling. Findings The results suggest regional entrepreneurial culture, educational institutional support and business and social networks mediate the relationship between entrepreneurs’ decision-making style and SMEs’ financial performance. Hence, this study developed a more complete methodical understanding of entrepreneurs’ decision-making styles and their impact on SMEs’ financial performance. This study provides deeper insights into the conditions and processes by which an entrepreneurs’ decision-making style impacts SMEs’ financial performance. Originality/value The focus of this study was to understand the relationship of entrepreneurs’ decision-making styles on SMEs’ financial performance. The authors identified that the entrepreneurs’ decision-making style positively impacts SMEs’ financial performance. This study augments the body of knowledge by proposing ways in how the entrepreneurs’ decision-making style can be more strengthened.

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References

2003Common method biases in behavioral research: A critical review of the literature and recommended remedies.1986Self-Reports in Organizational Research: Problems and Prospects 1998The partial least squares approach for structural equation modeling.2000The Promise of Entrepreneurship as a Field of Research 2014Partial least squares structural equation modeling (PLS-SEM)2015Common Method Bias in PLS-SEM 2003The role of social and human capital among nascent entrepreneurs 2000Individual differences in reasoning: Implications for the rationality debate?

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