Final published version
Licence: CC BY: Creative Commons Attribution 4.0 International License
Research output: Contribution to Journal/Magazine › Journal article › peer-review
Research output: Contribution to Journal/Magazine › Journal article › peer-review
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TY - JOUR
T1 - The role of behavioural competences in predicting entrepreneurial funding resource orchestration
AU - Parkes, Geoff
AU - Hart, Mark
AU - Rudd, John
AU - Liu, Rebecca Ru-Yuh
PY - 2018/8/24
Y1 - 2018/8/24
N2 - This study examines how a psychometric testing tool can be used to explain, predict and measure behavioural competences and how entrepreneurs fund the firm. Reference is made to studies of personality traits. More recent studies have called for research into behaviour and competences and specifically in the finance context of orchestration of resources.The authors take a pragmatic realism perspective using a mixed method study to explore the “reality” of the entrepreneur. Cluster analysis is used to identify the relationship between behavioural competences and funding outcomes.Applying Big 5 Theory of Personality and the Great 8 Competences indicates how behaviour impacts outcomes as entrepreneurs seek to access finance. The identification of three distinct groups in this longitudinal study means belonging to one of these groups predicts likely behaviour when searching for finance.A strong behavioural characteristic which emerged, validated through interviews and psychometric testing, was an orientation towards engagement and working with other organisations. In a funding context, this manifested itself in using networks, seeking advice and sharing equity. These co-operative, collaborative characteristics are different to the classic image of the entrepreneur as a risk-taker or extrovert.The study identifies entrepreneurs who are both successful and unsuccessful in finance applications and compares behavioural competency profiles, thus overcoming the limitations of many studies that are biased towards successful enterprises.
AB - This study examines how a psychometric testing tool can be used to explain, predict and measure behavioural competences and how entrepreneurs fund the firm. Reference is made to studies of personality traits. More recent studies have called for research into behaviour and competences and specifically in the finance context of orchestration of resources.The authors take a pragmatic realism perspective using a mixed method study to explore the “reality” of the entrepreneur. Cluster analysis is used to identify the relationship between behavioural competences and funding outcomes.Applying Big 5 Theory of Personality and the Great 8 Competences indicates how behaviour impacts outcomes as entrepreneurs seek to access finance. The identification of three distinct groups in this longitudinal study means belonging to one of these groups predicts likely behaviour when searching for finance.A strong behavioural characteristic which emerged, validated through interviews and psychometric testing, was an orientation towards engagement and working with other organisations. In a funding context, this manifested itself in using networks, seeking advice and sharing equity. These co-operative, collaborative characteristics are different to the classic image of the entrepreneur as a risk-taker or extrovert.The study identifies entrepreneurs who are both successful and unsuccessful in finance applications and compares behavioural competency profiles, thus overcoming the limitations of many studies that are biased towards successful enterprises.
KW - access to finance
KW - analytic induction
KW - behaviour
KW - clusters
KW - competencies
KW - entrepreneur
KW - longitudinal
KW - mixed methodology
KW - personality
KW - pragmatic realism
U2 - 10.1080/23311975.2018.1512833
DO - 10.1080/23311975.2018.1512833
M3 - Journal article
VL - 5
SP - 1
EP - 29
JO - Cogent Business & Management
JF - Cogent Business & Management
M1 - 5: 1512833
ER -