The relationship between entrepreneurial psychological capital and entrepreneurial persistence: evidence from China

Purpose Entrepreneurial persistence is a crucial decision-making aspect of entrepreneurial activities. Analyzing the factors that influence entrepreneurial persistence can provide support for entrepreneurs to remain perseverant in their ventures, thereby increasing the survival and success rates of new enterprises. To this end, this study aims to examine the relationship between entrepreneurial psychological capital and entrepreneurial persistence while also introducing perceived social support as a moderating variable to analyze its effects. This study aims to investigate the specific influencing factors of entrepreneurial persistence from the perspective of entrepreneurial psychological capital. Design/methodology/approach Grounded in social cognitive and self-control theories and incorporating intellectual capital – particularly its psychological dimension – this research investigates the dynamic processes that enhance entrepreneurial persistence. The researchers collected a total of 188 questionnaires from entrepreneurs and used regression analysis to test the theoretical model. Findings This study found that entrepreneurs’ psychological capital significantly contributes to their persistence in entrepreneurial activities. However, comprehending social support can increase the entrepreneurs’ level of entrepreneurial persistence, yet it also inhibits the extent to which psychological capital influences entrepreneurial persistence. Originality/value The findings of this study reveal a negative effect of perceived social support on the relationship between entrepreneurial psychological capital and entrepreneurial persistence highlighting the darker side of support. Additionally, this paper provides insights for entrepreneurs on how to harmonize the balance between their own psychological factors and environmental influences.