The effect of personal values on both entrepreneurial intentions and new venture creation: A longitudinal analysis

This article focuses on the influence of personal values (PVs) on entrepreneurial intention (EI) and new venture creation (NVC). The analysis is based on Schwartz’s PV theory and assumes that entrepreneurship is a process. A longitudinal analysis was conducted using partial least squares structural equation modelling with data from two surveys in which the same individuals were interviewed in 2010 and 2023. The findings provide valuable insights into the role played by PVs in the relationship between EI and NVC. This contributes to a deeper understanding of why, over time, a substantial proportion of individuals with EIs fail to initiate a business. Furthermore, the results provide empirical support relevant to the ongoing debate concerning stability, versus change, in PVs over time.