Self-efficacy, Opportunity Recognition and Business Ideas

Abstract

This paper investigates the impact of self-efficacy on the number of business ideas that were realized by the business owners. The research also examines the moderating effect of the opportunity recognition on the relations between mentioned variables. We have analyzed 340 questionnaires, which were gathered from Russian entrepreneurs. The results indicated that self-efficacy has a positive impact on the number of implemented business ideas. The evidence of the significant moderating effect of opportunity recognition on the relations between self-efficacy and the number of implemented ideas was shown in this research. The study helps to make sense of how an entrepreneur can increase the number of realized ideas. The paper also provides implications and recommendations for future research.