Fostering Women Entrepreneurs: Psychological Capital, Psychological Empowerment and Entrepreneurial Spirit

Abstract

Psychological capital is a central notion that has emerged in entrepreneurial behavior. This study looks at how psychological empowerment plays a mediating role in the relationship between psychological capital (PsyCap) and women's entrepreneurial spirit. Data were collected from 203 women-owned manufacturing industries. Through the Smart PLS software, the hypothesis is tested using partial least squares structural equation modeling (PLS-SEM), which uses algorithms and bootstrapping to measure the association. Data analysis concluded that PsyCap has a significant positive relationship with entrepreneurial spirit and psychological empowerment. The association between psychological empowerment and entrepreneurial spirit is also significant and positive. Correspondingly, mediation of psychological empowerment exists between PsyCap and psychological empowerment. In a precise form, PsyCap and psychological empowerment can develop entrepreneurial spirits.

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