Self-Efficacy and New Venture Success: Testing the Mediating Effect of Polychronicity in Entrepreneurs - A Research Agenda

Abstract

A psychology construct 'Polychronicity' has been introduced to the field of entrepreneurship studies and understanding of entrepreneurial action at its micro level has been initiated by this work. While Self- efficacy has been firmly established in the entrepreneurial intentionality model, the actual action of performing tasks has been less explored for traits, theory and models. This paper hypothesises that entrepreneurs display polychronic behaviour in starting and running of the new venture and that polychronicity mediates between self efficacy and new venture success. It is also explored that polychronicity is beneficial in early stages of a venture and can be detrimental in the later stages. This study introduces a new construct to the study of entrepreneurship which will find relevance and importance in areas of understanding entrepreneurial traits and new venture success. The paper brings out major descriptions that will have significant implications in studies of various areas of a new venture like new product development, strategy formation and execution and working of team entrepreneurs.