Published
2024-02-29
Issue
Section
Research Articles
License
The journal adopts the Attribution-NonCommercial 4.0 International (CC BY-NC 4.0), which means that anyone can reuse and redistribute the materials for non-commercial purposes as long as you follow the license terms and the original source is properly cited.
Author(s) shall retain the copyright of their work and grant the Journal/Publisher rights for the first publication with the work concurrently licensed since 2023 Vol.8 No.2.
Under this license, author(s) will allow third parties to download, reuse, reprint, modify, distribute and/or copy the content under the condition that the authors are given credit. No permission is required from the authors or the publisher.
This broad license intends to facilitate free access, as well as the unrestricted use of original works of all types. This ensures that the published work is freely and openly available in perpetuity.
By providing open access, the following benefits are brought about:
- Higher Visibility, Availability and Citations-free and unlimited accessibility of the publication over the internet without any restrictions increases citation of the article.
- Ease of search-publications are easily searchable in search engines and indexing databases.
- Rapid Publication – accepted papers are immediately published online.
- Available for free download immediately after publication at https://esp.as-pub.com/index.php/ESP
Copyright Statement
1.The authors certify that the submitted manuscripts are original works, do not infringe the rights of others, are free from academic misconduct and confidentiality issues, and that there are no disputes over the authorship scheme of the collaborative articles. In case of infringement, academic misconduct and confidentiality issues, as well as disputes over the authorship scheme, all responsibilities will be borne by the authors.
2. The author agrees to grant the Editorial Office of Environment and Social Psychology a licence to use the reproduction right, distribution right, information network dissemination right, performance right, translation right, and compilation right of the submitted manuscript, including the work as a whole, as well as the diagrams, tables, abstracts, and any other parts that can be extracted from the work and used in accordance with the characteristics of the journal. The Editorial Board of Environment and Social Psychology has the right to use and sub-licence the above mentioned works for wide dissemination in print, electronic and online versions, and, in accordance with the characteristics of the periodical, for the period of legal protection of the property right of the copyright in the work, and for the territorial scope of the work throughout the world.
3. The authors are entitled to the copyright of their works under the relevant laws of Singapore, provided that they do not exercise their rights in a manner prejudicial to the interests of the Journal.
About Licence
Environment and Social Psychology is an open access journal and all published work is available under the Creative Commons Licence, Authors shall retain copyright of their work and grant the journal/publisher the right of first publication, and their work shall be licensed under the Attribution-NonCommercial 4.0 International (CC BY-NC 4.0).
Under this licence, the author grants permission to third parties to download, reuse, reprint, modify, distribute and/or copy the content with attribution to the author. No permission from the author or publisher is required.
This broad licence is intended to facilitate free access to and unrestricted use of original works of all kinds. This ensures that published works remain free and accessible in perpetuity. Submitted manuscripts, once accepted, are immediately available to the public and permanently accessible free of charge on the journal’s official website (https://esp.as-pub.com/index.php/ESP). Allowing users to read, download, copy, print, search for or link to the full text of the article, or use it for other legal purposes. However, the use of the work must retain the author's signature, be limited to non-commercial purposes, and not be interpretative.
Click to download <Agreement on the Licence for the Use of Copyright on Environmental and Social Psychology>.
How to Cite
Relationships between well-being, resilience, leadership, and perceived success in SME owners-managers of Ecuador
Gelmar García-Vidal
Universidad UTE
http://orcid.org/0000-0001-7159-3163
Laritza Guzmán-Vilar
Universidad UTE
http://orcid.org/0000-0001-9632-6328
Alexander Sánchez-Rodríguez
Universidad UTE
http://orcid.org/0000-0001-8259-2131
Rodobaldo Martínez-Vivar
Universidad UTE
http://orcid.org/0000-0002-1934-1185
Reyner Pérez-Campdesuñer
Universidad UTE
http://orcid.org/0000-0002-2785-5290
DOI: https://doi.org/10.54517/esp.v9i5.2063
Keywords: business success, well-being, resilience, leadership, micro-enterprise, small enterprise, small entrepreneurs
Abstract
This paper aims to provide a comprehensive understanding of entrepreneurial success among owners and managers of Ecuadorian SMEs through the relationship between variables such as business efficiency, psychological resilience and perceived entrepreneurial leadership. We surveyed 385 SME owners and managers in Ecuador and employed hierarchical linear modeling to analyze the data. The findings of this article suggest that entrepreneurial well-being, psychological resilience, and entrepreneurial leadership perceived by owners and managers of Ecuadorian SMEs are positively correlated with entrepreneurial success. There may be a tendency to associate success with economic performance. The practical implications of this study are that owner-managers of SMEs can use the developed measurement scale to evaluate their success and identify areas where they may need support or improvement and develop strategies to foster the best possible business experience. The study also provides insights into factors affecting entrepreneurial success and highlights the importance of promoting a positive entrepreneurial experience. In addition, the study contributes to literature by identifying some limitations and identifying areas for future research.
Author Biographies
Gelmar García-Vidal, Universidad UTE
Professor and researcher at the Faculty of Law, Administrative and Social Sciences. Universidad UTE. Quito, Ecuador.
Laritza Guzmán-Vilar, Universidad UTE
Professor and researcher at the Faculty of Law, Administrative and Social Sciences. Universidad UTE. Quito, Ecuador.
Alexander Sánchez-Rodríguez, Universidad UTE
Professor and researcher at the Faculty of Engineering Sciences and Industries. Universidad UTE. Quito, Ecuador.
Rodobaldo Martínez-Vivar, Universidad UTE
Professor and Vice Dean at the Faculty of Law, Administrative and Social Sciences. Universidad UTE. Quito, Ecuador.
Reyner Pérez-Campdesuñer, Universidad UTE
Professor and research director at the Faculty of Law, Administrative and Social Sciences. Universidad UTE. Quito, Ecuador.
References
[1]. Razmus W, Laguna M. Dimensions of Entrepreneurial Success: A Multilevel Study on Stakeholders of Micro-Enterprises. Frontiers in Psychology. 2018, 9. doi: 10.3389/fpsyg.2018.00791
[2]. Staniewski MW, Awruk K. Questionnaire of entrepreneurial success—Report on the initial stage of method construction. Journal of Business Research. 2018, 88: 437–442. doi: 10.1016/j.jbusres.2017.11.041
[3]. Wach D, Stephan U, Gorgievski MJ, Wegge J. Entrepreneurs’ achieved success: Developing a multi-faceted measure. International Entrepreneurship and Management Journal. 2020, 16(3): 1123–1151. doi: 10.1007/s11365-018-0532-5
[4]. Santoro G, Bertoldi B, Giachino C, Candelo E. Exploring the relationship between entrepreneurial resilience and success: The moderating role of stakeholders' engagement. Journal of Business Research. 2020, 119: 142–150. doi: 10.1016/j.jbusres.2018.11.052
[5]. Hussain N, Li B. Entrepreneurial Leadership and Entrepreneurial Success: The Role of Knowledge Management Processes and Knowledge Entrepreneurship. Frontiers in Psychology. 2022, 13: 829959. doi: 10.3389/fpsyg.2022.829959
[6]. Ravet-Brown TÉ, Furtner M, Kallmuenzer A. Transformational and entrepreneurial leadership: A review of distinction and overlap. Review of Managerial Science. 2023. doi: 10.1007/s11846-023-00649-6
[7]. Staniewski MW, Awruk K. Entrepreneurial success and achievement motivation—A preliminary report on a validation study of the questionnaire of entrepreneurial success. Journal of Business Research. 2019, 101: 433–440. doi: 10.1016/j.jbusres.2019.01.073
[8]. Turnalar-Çetinkaya N, Islamoǧlu G. Entrepreneurial Well-being: An Exploratory Study for Positive Entrepreneurship. Entrepreneurship Research Journal. 2022. doi: 10.1515/erj-2022-0008
[9]. Pliakoura A, Beligiannis GN, Kontogeorgos A, Chatzitheodoridis F. Farmers’ Perception of Entrepreneurial Success: Evidence from the Greek Reality. Agriculture. 2021, 11(12): 1192. doi: 10.3390/agriculture11121192
[10]. Alshebami AS, Murad M. The moderation effect of entrepreneurial resilience on the relationship between financial literacy and sustainable performance. Frontiers in Psychology. 2022, 13. doi: 10.3389/fpsyg.2022.954841
[11]. Walsh C, McCollum WR. Exploring the Impact of Individual Resilience on Entrepreneurial Success. Journal of Entrepreneurship & Organization Management. 2020, 9(5): 1–6. doi: 10.37421/jeom.2020.9.286
[12]. Lasio V, Amaya A, Zambrano J, Ordeñana X. Global Entrepreneurship Monitor (GEM) Ecuador 2019–2020. ESPAE–ESPOL; 2020.
[13]. Zapata B. The business ideas that are outlined for 2023 in Ecuador. Available online: https://bit.ly/45srUdz (accessed on 4 January 2023).
[14]. Fisher R, Maritz A, Lobo A. Evaluating entrepreneurs’ perception of success. International Journal of Entrepreneurial Behavior & Research. 2014, 20(5): 478–492. doi: 10.1108/IJEBR-10-2013-0157
[15]. Wach D, Stephan U, Gorgievski MJ. More than money: Developing an integrative multi-factorial measure of entrepreneurial success. International Small Business Journal. 2015, 34(8): 1098–1121. doi: 10.1177/0266242615608469
[16]. Mishra P, Misra RK. Entrepreneurial Leadership and Organizational Effectiveness: A Comparative Study of Executives and Non-executives. Procedia Computer Science. 2017, 122: 71–78. doi: 10.1016/j.procs.2017.11.343
[17]. Nguyen PV, Huynh HTN, Lam LNH, et al. The impact of entrepreneurial leadership on SMEs' performance: the mediating effects of organizational factors. Heliyon. 2021, 7(6): e07326. doi: 10.1016/j.heliyon.2021.e07326
[18]. Marshall DR, Meek WR, Swab RG, Markin E. Access to resources and entrepreneurial well-being: A self-efficacy approach. Journal of Business Research. 2020, 120: 203–212. doi: 10.1016/j.jbusres.2020.08.015
[19]. Granovetter MS. The Strength of Weak Ties. American Journal of Sociology. 1973, 78(6): 1360–1380. doi: 10.1086/225469
[20]. Gist ME, Mitchell TR. Self-Efficacy: A Theoretical Analysis of Its Determinants and Malleability. Academy of Management Review. 1992, 17(2): 183–211. doi: 10.5465/amr.1992.4279530
[21]. Shane S. Prior Knowledge and the Discovery of Entrepreneurial Opportunities. Organization Science. 2000, 11(4): 448–469. doi: 10.1287/orsc.11.4.448.14602
[22]. Luthans F, Avey JB, Avolio BJ, Peterson SJ. The development and resulting performance impact of positive psychological capital. Human Resource Development Quarterly. 2010, 21(1): 41–67. doi: 10.1002/hrdq.20034
[23]. Sánchez-García JC, Vargas-Morúa G, Hernández-Sánchez BR. Entrepreneurs’ Well-Being: A Bibliometric Review. Frontiers in Psychology. 2018, 9. doi: 10.3389/fpsyg.2018.01696
[24]. Pathak S. Contextualizing Well-Being for Entrepreneurship. Business & Society. 2020, 60(8). doi: 10.1177/0007650320927688
[25]. Li H, Huang S, Sun J, Feng X. Social Support, Entrepreneurial Self-efficacy and Entrepreneurial Well-being. Foreign Economics & Management. 2022, 44(8): 42–56. doi: 10.16538/j.cnki.fem.20220506.402
[26]. Stephan U, Rauch A, Hatak I. Happy Entrepreneurs? Everywhere? A Meta-Analysis of Entrepreneurship and Wellbeing. Entrepreneurship Theory and Practice. 2022, 47(2): 553–593. doi: 10.1177/10422587211072799
[27]. Sherman CL, Randall C, Kauanui SK. Are you happy yet? Entrepreneurs’ subjective well-being. Journal of Management, Spirituality and Religion. 2016; 13(1): 7–23. doi: 10.1080/14766086.2015.1043575
[28]. White JV, Gupta VK. Stress and Well-Being in Entrepreneurship: A Critical Review and Future Research Agenda. In: Perrewé PL, Harms PD, Chang CH (editors). Entrepreneurial and Small Business Stressors, Experienced Stress, and Well-Being. Emerald Publishing Limited; 2020. pp. 65–93.
[29]. Bhuiyan MF, Ivlevs A. Micro-entrepreneurship and subjective well-being: Evidence from rural Bangladesh. Journal of Business Venturing. 2019, 34(4): 625–645. doi: 10.1016/j.jbusvent.2018.09.005
[30]. Wiklund J, Nikolaev B, Shir N et al. Entrepreneurship and well-being: Past, present, and future. Journal of Business Venturing. 2019, 34(4): 579–588. doi: 10.1016/j.jbusvent.2019.01.002
[31]. Malibari MA, Bajaba S. Entrepreneurial leadership and employees’ innovative behavior: A sequential mediation analysis of innovation climate and employees’ intellectual agility. Journal of Innovation & Knowledge. 2022, 7(4). doi: 10.1016/j.jik.2022.100255
[32]. Li C, Makhdoom HUR, Asim S. Impact of Entrepreneurial Leadership on Innovative Work Behavior: Examining Mediation and Moderation Mechanisms. Psychology Research and Behavior Management. 2020, 13: 105–118. doi: 10.2147/PRBM.S236876
[33]. Ordu UB-A. Entrepreneurial Leadership in Start-Up Businesses. Paper presented at the Annual International Conference of the Bulgarian Comparative Education Society (BCES). 2020.
[34]. Yusuf Esmer FD. Entrepreneurial Leadership: A Theoretical Research. Paper presented at the 25th International Academic Conference. OECD Headquarters; 2016.
[35]. Renko M, El Tarabishy A, Carsrud AL, Brännback M. Understanding and Measuring Entrepreneurial Leadership Style. Journal of Small Business Management. 2015, 53(1): 54–74. doi: 10.1111/jsbm.12086
[36]. Bagheri A, Harrison C. Entrepreneurial leadership measurement: a multi-dimensional construct. Journal of Small Business and Enterprise Development. 2020, 27(4): 659–679. doi: 10.1108/JSBED-01-2019-0027
[37]. Mehmood MS, Jian Z, Akram U, Tariq A. Entrepreneurial leadership: the key to develop creativity in organizations. Leadership & Organization Development Journal. 2021, 42(3): 434–452. doi: 10.1108/LODJ-01-2020-0008
[38]. Vella S-LC, Pai NB. A Theoretical Review of Psychological Resilience: Defining Resilience and Resilience Research over the Decades. Archives of Medicine and Health Sciences. 2019, 7(2).
[39]. Wang H, Huang Z, Liang Y, et al. Dynamic evolution of urban infrastructure resilience and its spatial spillover effects: An empirical study from China. PLoS One. 2023, 18(3): e0282194. doi: 10.1371/journal.pone.0282194
[40]. Sisto A, Vicinanza F, Campanozzi LL, et al. Towards a Transversal Definition of Psychological Resilience: A Literature Review. Medicina. 2019, 55(11). doi: 10.3390/medicina55110745
[41]. Guo H, Zhang Y, Tian Y, et al. Exploring psychological resilience of entrepreneurial college students for post-pandemic pedagogy: The mediating role of self-efficacy. Frontiers in Psychology. 2022, 13. doi: 10.3389/fpsyg.2022.1001110
[42]. Hartmann S, Backmann J, Newman A, et al. Psychological resilience of entrepreneurs: A review and agenda for future research. Journal of Small Business Management. 2022, 60(5): 1041–1079. doi: 10.1080/00472778.2021.2024216
[43]. Ahmed AE, Ucbasaran D, Cacciotti G, Williams TA. Integrating Psychological Resilience, Stress, and Coping in Entrepreneurship: A Critical Review and Research Agenda. Entrepreneurship Theory and Practice. 2022, 46(3): 497–538. doi: 10.1177/10422587211046542
[44]. Hofgaard LS, Nes RB, Røysamb E. Introducing two types of psychological resilience with partly unique genetic and environmental sources. Scientific Reports. 2021, 11(1): 8624. doi: 10.1038/s41598-021-87581-5
[45]. Chadwick IC, Raver JL. Psychological Resilience and Its Downstream Effects for Business Survival in Nascent Entrepreneurship. Entrepreneurship Theory and Practice. 2018, 44(2): 233–255. doi: 10.1177/1042258718801597
[46]. National Institute of Statistics and Censuses. Business statistics. Available online: https://bit.ly/3R6uEcn (accessed on 20 August 2023).
[47]. Troy AS, Willroth EC, Shallcross AJ, et al. Psychological Resilience: An Affect-Regulation Framework. Annual Review of Psychology 2023, 74(1): 547–576. doi: 10.1146/annurev-psych-020122-041854
[48]. Malkewitz CP, Schwall P, Meesters C, Hardt J. Estimating reliability: A comparison of Cronbach’s α, McDonald’s ωt and the greatest lower bound. Social Sciences & Humanities Open. 2023, 7(1): 100368. doi: 10.1016/j.ssaho.2022.100368
[49]. Chen MH, Tseng M, Teng MJ. Creative Entrepreneurs’ Well-Being, Opportunity Recognition and Absorptive Capacity: Self-Determination. Theory Perspective. 2020, 10(1). doi. 10.1515/erj-2018-0171
[50]. Eddleston KA, Powell GN. Nurturing Entrepreneurs’ Work–Family Balance: A Gendered Perspective. Entrepreneurship Theory and Practice. 2012, 36(3): 513–541. doi: 10.1111/j.1540-6520.2012.00506.x
[51]. Karimi S, Reisi S. Exploring the Antecedents and Outcomes of Entrepreneurial Well-Being: Empirical Evidence from Iranian Rural Entrepreneurs. Frontiers in Psychology. 2022, 13. doi: 10.3389/fpsyg.2022.858230
[52]. Kipkosgei F. Perceived Entrepreneurial Stress and Entrepreneurial Resilience; The Mediating Role of the Well-Being of Entrepreneurs and Moderating Role Perceived Online Social Support. Merits. 2022, 2(1): 1–17. doi: 10.3390/merits2010001
[53]. Shir N. Entrepreneurial Well-Being: The Payoff Structure of Business Creation [PhD Thesis]. Stockholm School of Economics; 2015.
[54]. Van den Broeck A, Vansteenkiste M, De Witte H, et al. Capturing autonomy, competence, and relatedness at work: Construction and initial validation of the Work-related Basic Need Satisfaction scale. Journal of Occupational and Organizational Psychology. 2010, 83(4): 981–1002. doi: 10.1348/096317909X481382
[55]. Shi X, Wang S, Wang Z, Fan F. The resilience scale: factorial structure, reliability, validity, and parenting-related factors among disaster-exposed adolescents. BMC Psychiatry. 2021, 21(1): 145. doi: 10.1186/s12888-021-03153-x
[56]. Ahern NR, Kiehl EM, Sole ML Byers J. A Review of Instruments Measuring Resilience. Issues in Comprehensive Pediatric Nursing. 2006, 29(2): 103–125. doi: 10.1080/01460860600677643
[57]. de Jong PF. Hierarchical regression analysis in structural equation modeling. Structural Equation Modeling: A Multidisciplinary Journal. 1999, 6(2): 198–211. doi: 10.1080/10705519909540128
[58]. Bash KL, Howell Smith MC, Trantham PS. A Systematic Methodological Review of Hierarchical Linear Modeling in Mixed Methods Research. Journal of Mixed Methods Research. 2020, 15(2): 190–211. doi: 10.1177/1558689820937882
[59]. Oreyzi HR. Mediation Analysis, Mathematical Model Construction, Confirmatory Fit Indices, Improving Mental Model: A Critical Review. Industrial and Organizational Psychology Studies. 2021, 8(2): 275–294. doi: 10.22055/jiops.2022.38527.1242
[60]. Green SB. How Many Subjects Does It Take to Do a Regression Analysis. Multivariate Behavioral Research. 1991, 26(3): 499–510. doi: 10.1207/s15327906mbr2603_7
[61]. Austin PC, Steyerberg EW. The number of subjects per variable required in linear regression analyses. Journal of Clinical Epidemiology. 2015, 68(6): 627–636. doi: 10.1016/j.jclinepi.2014.12.014