Journal of Emerging Trends in Economics and Management Sciences: Home

Abstract:
Various personality variables determine entrepreneurial intentions and ultimately entrepreneurial success. This paper investigated the influence of personality on entrepreneurial success. We examined the impact of gender, locus of control and risk-taking behaviour on the success of an entrepreneur. The participants in this study were thirty-five solo entrepreneurs located around Agbowo, University of Ibadan area, Ibadan, Oyo state, Nigeria. 34.3 percent were males and 65.7 percent were females aged between 21 and 60. Six hypotheses were tested using various statistical techniques including independent 't' test, analysis of variance and multiple regression. The results showed that risk-taking behaviour and locus of control had no significant interaction effect on entrepreneurial success. There was also no significant difference between risk-taking behaviour and entrepreneurial success. The findings showed that a significant difference existed between internal locus of control and entrepreneurial success. The study also showed that there was no significant difference in the entrepreneurial success based on gender differences. Finally, locus of control, risk-taking behaviour did not collectively predict or determine entrepreneurial success. On the basis of the findings, entrepreneurs are advised to take cognizance of their personality since it can go a long way to determine the success or failure of an enterprise.

Keywords: entrepreneurship, personality, locus of control, risk-taking behaviour, entrepreneurial success

Download full paper