Research on factors affecting serial entrepreneurial intention: An interpretive structure model

Area of Science:

• Business and Management
• Psychology

Background:

• Serial entrepreneurship is a prevalent global phenomenon.
• Understanding the drivers behind repeated venture creation is crucial for entrepreneurship research.
• Key questions involve the persistence of entrepreneurs and the sustainability of their ventures.

Purpose of the Study:

• To construct and test a hierarchical model of factors influencing serial entrepreneurial intention.
• To identify basic conditions, key factors, and causal paths affecting serial entrepreneurial intention.
• To provide insights into why entrepreneurs repeatedly start businesses.

Main Methods:

• Utilized the interpretive structure model from systems engineering to develop a hierarchical model.
• Empirically tested the proposed model using a case study of a serial entrepreneur.
• Analyzed 16 distinct factors influencing serial entrepreneurial intention.

Main Results:

• Identified 16 factors influencing serial entrepreneurial intention, each operating at a specific hierarchical level.
• Entrepreneurial expectations and opportunity identification/evaluation emerged as critical factors.
• Entrepreneurial failure learning can enhance opportunity evaluation skills and shape expectations.
• Cognitive schemas and behavioral addiction directly impact opportunity evaluation.
• Demographic, financial, environmental, and experience factors indirectly influence intention via emotional and motivational elements.

Conclusions:

• The hierarchical model provides a structured understanding of serial entrepreneurial intention.
• Opportunity evaluation and expectations are pivotal, improvable through learning and cognitive processes.
• Basic conditions indirectly shape intention, mediated by emotional and motivational factors, underscoring a complex interplay of influences.