Does psychological capital affect entrepreneurial intentions? A systematic review and meta-analysis of empirical literature

Purpose The association between entrepreneurial intentions (EI) and individuals’ psychological capital (PsyCap) is one of the evolving constructs in the entrepreneurial research domain. The main aim of this analysis is to statistically aggregate the findings of previous empirical studies on the impact of PsyCap on EI using a meta-analysis method. Design/methodology/approach This study employed a systematic literature review approach for qualitative analysis and a Meta-analysis technique for quantitative assessment of empirical studies on EI and PsyCap through the correlation coefficient. The Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) protocol is applied to gather the final 30 empirical studies (N = 16,078) on EI and PsyCap. Further, to perform the meta-analysis, the Meta Essential tool is utilized. Findings The study findings revealed that PsyCap strongly associated with EI. Consequently, there is a mediation effect between EI and other factors. In addition, certain other factors mediate the relationship between EI and PsyCap. Moreover, findings revealed that PsyCap functions as an antecedent to the theory of planned behaviour constructs. Research limitations/implications The meta-analytical results reveal strong Asian and emerging-economy bias among included studies. Practical implications The article provided critical insights to college administrators, educators and entrepreneurial policy-makers to design entrepreneurship programs and formulate better policies for start-ups. Originality/value This study is an initial extension of the prior meta-analysis exploration of EI and PsyCap empirical studies within an Asia- and emerging-economy–focused corpus. The study’s novelty lies in the complementary but conceptually distinct synthesis and theoretical consolidation of prior studies.