Entrepreneurial personality traits and SMEs profitability in transition economy
Sažetak
Creativity and innovation have been identified in the literature as the main drivers of small and medium size enterprises’ development. The aim of this study was to determine whether these factors also affect the profitability of the SME sector in Serbia. The conceptual model was set and six hypotheses were proposed. The survey was conducted in South and South-Eastern Serbia, on a sample of 717 small and medium enterprises. CFA and Path Analysis were used to test conceptual model. The results showed high reliability of the data and confirmed hypotheses.
Reference
Acs, Z., Desai, S., & Hessels, J. (2008). Entrepreneurship, economic development and institutions. Small Business Economics, 31 (3), 219-234.
Amabile, T. M., Conti, R., Coon, H., Lazenby, J., & Herron, M. (1996). Assessing the work environment for creativity. Academy of Management Journal, 39 (5), 1154-1184.
Anderson, N. R., & West M. A. (1998). Measuring climate for work group innovation: development and validation of the team climate inventory. Journal of organizational behavior, 19, 235-258.
Bandura, A. (1977). Self-efficacy: Toward a unifying theory of behavioral change. Psychology Review, 84, 191-215.
Bandura, A. (2001). Social cognitive theory: An agentic perspective. Annual Review of Psychology, 52 (1), 1-26.
Baron, R. A., & Tang, J. (2011). The role of entrepreneurs in firm-level innovation: The joint effects of positive affect, creativity, and environmental dynamism. Journal of Business Venturing, 26 (1), 49-60.
Boyd, N. G., & Vozikis, G. S. (1994). The influence of selfefficacy on the development of entrepreneurial intentions and actions. Entrepreneurship Theory and Practice, 18 (4), 63-77.
Chen, C. C., Greene, P. G., & Crick, A. (1998). Does entrepreneurial self-efficacy distinguish entrepreneurs from managers? Journal of Business Venturing, 13 (4), 295-316.
Cvetanović, S., Nedić, V., & Erić, M. (2014). Information technology as a determinant of SMEs collaboration and innovativeness. International Journal for Quality Research, 8 (4) 465–480.
Dougherty, D. (2001). Organizing practice-based knowledge in service organizations. Academy of Management Proceedings, paper TIM: C1.
Engelen, A., Heinemann, F., & Brettel, M. (2009). Cross-cultural entrepreneurship research: Current status and framework for future studies. Journal of International Entrepreneurship, 7 (3), 163-189.
European Commission (2010). Internationalisation of European SMEs. Brussels: Directorate-General for Enterprise and Industry, European Commission.
Gefen, D., Straub, D., & Boudreau, M. (2000). Structural equation modeling techniques and regression: Guidelines for research practice. Journal of the Association for Information Systems, 4 (7), 1–70.
Golovko, E., & Valentini, G. (2011). Exploring the complementarity between innovation and export for SMEs growth. Journal of International Business Studies, 42, 362-380.
Grant, R. M. (1997). The Knowledge-based View of the Firm: Implications for Management Practice. Long Range Planning, 30 (3), 450-454.
Hair, J. F., Black, W. C., Babin, B. J., Anderson, R. E., & Tatham, R. L. (2006). Multivariate Data Analysis, 6th Edition, Pearson Prentice Hall, Upper Saddle River, NJ.
Hall, B. H., Lotti, F., & Mairesse, J. (2009). Innovation and productivity in SMEs: Empirical evidence for Italy. Small Business Economics, 33, 13-33.
Hansen, M. T. (2002). Knowledge networks: Explaining effective knowledge sharing in multiunit companies. Organization Science, 13 (3), 232-248.
Hasan, I., Low, P. K. C., & Islam, M. Z. (2013). Knowledge management, Knowledge Transfer and Corporate Social Responsibility (CSR). Springer link: Encyclopedia of Corporate Social Responsibility, 1555-1562.
Heinonen, J., Hytti, U., & Stenholm P. (2011). The role of creativity in opportunity search and business idea creation. Education & Training, 53 (8/9), 659-672.
Hills, G. E., Lumpkin, G. T., & Singh, R. P. (1997). Opportunity recognition: Perceptions and behaviors of entrepreneurs. Frontiers of Entrepreneurship Research, 17, 168-182.
Hmieleski, K. M., & Corbett, A. C. (2008). The contrasting interaction effects of improvisational behaviour with entrepreneurial self-efficacy on new venture performance and entrepreneur work satisfaction. Journal of Business Venturing, 23 (4), 482-496.
Ho, R. (2006). Handbook of Univariate and Multivariate Data Analysis and Interpretation with SPSS, Chapman & Hall/CRC, Taylor & Francis Group.
Jiménez-Jiménez, D., & Sanz-Valle, R. (2011). Innovation, organizational learning, and performance. Journal of Business Research, 64 (1), 408-417.
Kawakami, T., MacLachlan, D. L., & Stringfellow, A. (2012). New venture performance in China, Japan and The United States: The impact of formalized market information process. Journal of product Innovation Management, 29 (2), 275-287.
Keh, H. T., Nguyen, T. T. M., & Ng, H. P. (2007). The effects of entrepreneurial orientation and marketing information on the performance of SMEs. Journal of Business venturing, 22, 592-611.
Leskovar-Spacapan, G., & Bastic, M. (2007). Differences in organizations’ innovation capability in a transition economy: Internal aspect of the organizations’ strategic orientation. Technovation, 27 (9), 533-546.
Levine, C., (2007). Neural correlates of corporate camaraderie and teamwork. Annals of the New York. Academy of Sciences, 1118, 102-108.
Love, J. H., & Roper, S. (2015). SME innovation, exporting and growth: A review of existing evidence. International Small Business Journal, 33 (1), 28-48.
Maslow, A. (1968). Creativity in self-actualizing people. Toward a psychology of being. New York: Van Nostrand Reinhold Company.
Molina, M. L., Montes-Lorens, J., & Ruiz-Moreno A. (2007). Relationship between quality management practices and knowledge transfer. Journal of Operations Management, 25 (3), 682-701.
Moorman, C. (1995). Organizational market information processes: Cultural antecedents and new product outcomes. Journal of Marketing Research, 32 (3), 318–335.
Narver, J. C., & Slater, S. F. (1990). The effect of a market orientation on business profitability. Journal of Marketing 54 (4), 20-35.
Naude, W. (2010). Entrepreneurship, Developing countries, and development economics: New approaches and insights. Small Business Economics, 34 (1), 1-12.
Nikolić M., Despotović, D., & Cvetanović, D. (2015). Barriers to innovation in SMEs in the republic of Serbia. Ekonomika, 61 (4), 89-96.
Nunnally, J. C. (1978). Psychometric Theory, 2nd Edition. McGraw-Hill, New York.
Nystrom, H. (1993). Creativity and entrepreneurship. Creativity and Innovation Management, 2 (4), 237-242.
Schumpeter, J. A. (1934). Theory of economic development: An inquiry into profits, capital, credit, interest, and the business cycle. New York: Oxford University Press.
Shalley, C. E. (1995). Effects of coaction, expected evaluation, and goal setting on creativity and productivity. Academy of Management Journal, 38 (2), 483-503.
Shalley, C. E., & Gilson, L. L. (2004). What leaders need to know: A review of social and contextual factors that can foster or hinder creativity. The Leadership Quarterly, 15 (1), 33-53.
Silvia, P. J., Kaufman, J. C., & Pretz, J. E. (2009). Is creativity domain-specific? Latent class models of creative accomplishments and creative self-descriptions. Psychology of Aesthetics, Creativity, and the Arts, 3 (3), 139-148.
Soo, C. W., Devinney, T. M., & Midgley, D. F. (2007). External knowledge acquisition, creativity and learning in organisational problem solving. International Journal of Technology Management, 38 (1-2), 137-159.
Sparkes, J. R., & Miyake, M. (2000). Knowledge transfer and human resource development practices: Japanese firms in Brazil and Mexico. International Business Review, 9 (5), 599-612.
Stewart, G. L., & Barrick, M. R. (2000). Team structure and performance: assessing the mediating role of intrateam process and the moderating role of task type, Academy of Management Journal, 43 (2),135-148.
Szulanski, G. (1996). Exploring internal stickiness: Impediments to the transfer of best practice within the firm. Strategic Management Journal, 17 (S2), 27-43.
Tang, J. (2008). Environmental munificence for entrepreneurs: entrepreneurial alertness and commitment. International Journal of Entrepreneurial Behaviour and Research, 14 (3), 128-151.
Tata, J., & Prasad, S. (2004). Team self-management, organizational structure, and judgments of team effectiveness. Journal of Managerial Issues, 16 (2), 248-265.
Tenenhaus, M., Vinzi, V. E., Chatelin, Y. M., & Lauro, C. (2005). PLS path modeling. Compulational Statistics and Data Analysis, 48 (1), 159-205.
Wilson, F., Kickul, J., & Marlino, D. (2007). Gender, entrepreneurial self-efficacy, and entrepreneurial career intentions: Implications for entrepreneurship education. Entrepreneurship Theory and Practice, 31 (3), 387-406.
Wood, R., & Bandura, A. (1989). Social cognitive theory of organizational management. Academy of Management Review, 14 (3), 361-384.
Yang, H. L., & Cheng, H. H. (2009). Creative self-efficacy and its factors: An empirical study of information system analysts and programmers. Computers in Human Behavior, 25 (2), 429-438.
Zhang, P., & Ng, F. F. (2012). Attitude toward knowledge sharing in construction teams. Industrial Management & Data Systems, 112 (9), 1326-1347.
Živković, D., Živković, Ž ., Manasijević, D., & Kostadinović, M. (2010). Investigation of the knowledge combination interrelations between SMEs and consumer/supplier network. Serbian Journal of Management, 5 (2), 261–269.
The Author wishes to submit the Work to SJM for publication. To enable SJM to publish the Work and to give effect to the parties’ intention set forth herein, they have agreed to cede the first right to publication and republication in the SJM Journal.
Cession
The Author hereby cedes to SJM, who accepts the cession, to the copyright in and to the paper.
The purpose of the cession is to enable SJM to publish the Work, as first publisher world-wide, and for republication in the SJM Journal, and to grant the right to others to publish the Work world-wide, for so long as such copyright subsists;
SJM shall be entitled to edit the work before publication, as it deems fit, subject to the Authors approval
The Author warrants to SJM that:
- the Author is the owner of the copyright in the Work, whether as author or as reassigned from the Author’s employee and that the Author is entitled to cede the copyright to SJM;
- the paper (or any of its part) is not submitted or accepted for publication in any other Journal;
- the Work is an original work created by the Author;
- the Author has not transferred, ceded, or assigned the copyright, or any part thereof, to any third party; or granted any third party a licence or other right to the copyright, which may affect or detract from the rights granted to SJM in terms of this agreement.
The Author hereby indemnifies the SJM as a body and its individual members, to the fullest extent permitted in law, against all or any claims which may arise consequent to the warranties set forth.
No monetary consideration shall be payable by SJM to the Author for the cession, but SJM shall clearly identify the Author as having produced the Work and ensure that due recognition is given to the Author in any publication of the Work.
Should SJM, in its sole discretion, elect not to publish the Work within 1 year after the date of this agreement, the cession shall lapse and be of no further effect. In such event the copyright shall revert to the Author and SJM shall not publish the Work, or any part thereof, without the Author’s prior written consent.