The impact of entrepreneurial passion on entrepreneurial success and psychological well-being: a person-centered investigation
International Journal of Entrepreneurial Behavior & Research
ISSN: 1355-2554
Article publication date: 19 September 2022
Abstract
Purpose
Entrepreneurial passion has important implications for entrepreneurial success and psychological well-being. But their connections are complicated by the fact that three entrepreneurial passions (passion for inventing, passion for founding and passion for developing) can be combined differently according to their level and shape difference. A variable-centered approach cannot explain their relationship very well, by only focusing on the level difference and ignoring the different combination of entrepreneurial passion in subpopulations. The purpose of this study is to explore the function of entrepreneurial passion on entrepreneurial success and psychological well-being from a person-cantered approach.
Design/methodology/approach
In this study, the authors conducted latent profile analyses to identify different configurations of different entrepreneurial passions (passion for inventing, passion for founding, passion for developing) on two samples of Chinese students and entrepreneurs. Then in the sample of Chinese entrepreneurs, the authors utilized the DCON command in Mplus to provide comparisons among the profiles on entrepreneurial success and psychological well-being.
Findings
Based on identity theory, the authors found four entrepreneurial passion profiles across two samples—fully passionate, action-driven, interest-driven and dispassionate. Furthermore, the authors found that fully passionate entrepreneurs showed the highest level of entrepreneurial success, followed by action-driven, and then by interest-driven and dispassionate showed the lowest level. Action-driven entrepreneurs experienced the highest level of psychological well-being, followed by fully passionate entrepreneurs, then by interest-driven and dispassionate.
Originality/value
The results provide new insights into the nature and influence of entrepreneurial passion on entrepreneurial success and psychological well-being from a person-centered perspective.
Keywords
Acknowledgements
This paper has been funded by the Beijing Natural Science Foundation (award number : 9202010); the USTB Research Center for International People-to-people Exchange in Science, Technology and Civilization (award number : DL2022105001L); the Academic Research Projects of Beijing Union University (award number : ZK20202210); and the National Natural Science Foundation of China (award number : 71771022).
Citation
Chen, C., Zhang, J., Tian, H. and Bu, X. (2022), "The impact of entrepreneurial passion on entrepreneurial success and psychological well-being: a person-centered investigation", International Journal of Entrepreneurial Behavior & Research, Vol. ahead-of-print No. ahead-of-print. https://doi.org/10.1108/IJEBR-12-2021-0977
Publisher
:Emerald Publishing Limited
Copyright © 2022, Emerald Publishing Limited