Psychological capital and gender: entrepreneurial orientation

Abstract

Purpose This study examines the associations of psychological capital (PsyCap) and gender with entrepreneurial orientation (EO) among Ecuadorian entrepreneurs, providing evidence from an underexplored Latin American context. Design/methodology/approach Survey data were collected from 485 Ecuadorian entrepreneurs between December 2020 and December 2023. Women represented 48.5% of the sample, and 52% of respondents managed family businesses. Five generalized linear models with heteroscedasticity-robust standard errors were estimated. Separate models examined self-efficacy, resilience, optimism, hope, and the composite PsyCap index while controlling for personal and business characteristics. Findings Self-efficacy, resilience, optimism, hope, and the composite PsyCap index were positively and significantly associated with EO. Women reported lower EO levels than men after PsyCap and the included personal and business characteristics were controlled. Overall, the findings indicate that PsyCap and gender are independently associated with EO. Originality/value The study extends PsyCap research by examining its association with EO among entrepreneurs already managing businesses. It also documents a gender difference in EO and provides evidence from Ecuador.