Mediating Effect of Entrepreneurial Self-Efficacy on Entrepreneurial Orientation and Performance: Case of Ghana Club 100 Companies

The empirical literature shows that entrepreneurial orientation, such as risk-taking, pro-activeness, and innovation, predict firm financial performance. However, research is limited on the mediating role of entrepreneurial self-efficacy on firm-level entrepreneurial orientation and financial performance. This paper fills this void by applying the structural equation model to investigate the mediating role of entrepreneurial self-efficacy on entrepreneurial orientation and performance of firms listed on the Ghana Club 100 (N = 199 CEOs). The finding of the study shows that risk-taking directly predicts the financial performance of companies on the Ghana Club 100 whilst entrepreneurial self-efficacy is a significant mediator between all the constructs of entrepreneurial orientation and the financial performance of Ghana Club 100 companies.