Browse > Article

Entrepreneurs' Competencies and Business Performance: A Meta-Analysis  

Lee, Hye Young (KISED)
Kim, Jin Soo (Dept. of Business Administration, College of Business & Economics, Chung-Ang University)
Publication Information
Asia-Pacific Journal of Business Venturing and Entrepreneurship / v.14, no.5, 2019 , pp. 13-24 More about this Journal
Abstract
The purpose of this study is to provide a theoretical basis for future studies by systematically integrating existing empirical studies that examine the relationship between the entrepreneurs' competencies and business performance. As the results of empirical studies examining the relationship between the entrepreneurs' competencies and business performance are mixed, this study tries to derive different results from individual studies through meta-analysis into standardized statistics(effect sizes). To accomplish the purpose, this study developed hypotheses about the positive effects of the entrepreneurial competencies including opportunity recognition competency, managerial competency, technical-functional competency, strategic competency, and relationship competencies on the business performance through theoretical reviews of the literature. Also, this study conducted meta-analysis with 15 sample data using open source based statistical program 'R'. The results of this study are as follows. The opportunity recognition competency, managerial competency, technical-functional competency, strategic competency, and relationship competency were found to significantly affect financial business performance. Also, each of the factors had a moderate effect size on the performance. Among these competencies, the most effective factor was the strategic competency, followed by the opportunity recognition competency, technical-functional competency, and relationship competency. There is still no study using meta-analysis on the relationship between the entrepreneurs' competencies and business performance in South Korea. Therefore, the results of this study are expected to provide implications for developing the theoretical basis of future studies.
Keywords
Entrepreneurs' competencies; Startups; Ventures; Entrepreneur; Competency; Meta-analysis;
Citations & Related Records
연도 인용수 순위
  • Reference
1 Yu, T. F. L.(2001). Entrepreneurial alertness and discovery. The Review of Austrian Economics, 14(1), 47-63.   DOI
2 Yun, J. R., & Kim, H. C.(2009). The effect of entrepreneurs characteristics and differentiation strategy onperformance of venture business. Korea Journal of Business Administration, 22(6), 3693-3721.
3 Zhao, J. J.(2016). The effect of Chinese young entrepreneurs' competence on entrepreneurial success: A mediating role of entrepreneurial self-efficacy. Master's Thesis, Busan University.
4 Ahmad, N. H.(2007). Cross cultural study of entrepreneurial competencies and entrepreneurial success in SMEs in Australia and Malaysia. Doctoral dissertation, The University of Adelaide.
5 Ahmad, N. H., Ramayah, T., Wilson, C., & Kummerow, L.(2010). Is entrepreneurial competency and business success relationship contingent upon business environment? A study of Malaysian SMEs. International Journal of Entrepreneurial Behavior & Research, 16(3), 182-203.   DOI
6 Barazandeh, M., Parvizian, K., Alizadeh, M., & Khosravi, S.(2015). Investigating the effect of entrepreneurial competencies on business performance among early stage entrepreneurs, Global Entrepreneurship Monitor (GEM 2010 survey data). Journal of Global Entrepreneurship Research, 5(1), 18.   DOI
7 Baum, J. R., Locke, E. A., & Smith, K. G.(2001). A multidimensional model of venture growth. Academy of Management Journal, 44(2), 292-303.   DOI
8 Bird, B.(1995). Towards a theory of entrepreneurial competency. Advances in Entrepreneurship, Firm Emergence and Growth, 2(1), 51-72.
9 Borenstein, M., Hedges, L. V., Higgins, J. P., & Rothstein, H. R.(2009). Introduction to meta-analysis. Chichester, John Wiley & Sons.
10 Brush, C. G., Greene, P. G., & Hart, M. M.(2001). From initial idea to unique advantage: The entrepreneurial challenge of constructing a resource base. The Academy of Management Executive, 15(1), 64-78.
11 Chandler, G. N., & Hanks, S. H.(1993). Measuring the performance of emerging businesses: A validation study. Journal of Business Venturing, 8(5), 391-408.   DOI
12 Chandler, G. N., & Hanks, S. H.(1994). Founder competence, the environment, and venture performance. Entrepreneurship: Theory and Practice, 18(3), 77-90.   DOI
13 Chandler, G. N., & Jansen, E.(1992). The founder's self-assessed competence and venture performance. Journal of Business Venturing, 7(3), 223-236.   DOI
14 Chen, M. H., & Chang, Y. Y.(2013). The impacts of human capital in enhancing new venture's performance: Competence, motivation and creativity. Journal of Knowledge-based Innovation in China, 5(2), 146-168.   DOI
15 Cohen, J.(1988). Statistical power for the behavioral sciences (2nd ed.). Hillsdale, NJ: Erlbaum.
16 Gilbert, B. A., McDougall, P. P., & Audretsch, D. B.(2006). New venture growth: A review and extension. Journal of Management. 32(6), 926-950.   DOI
17 Colombo, M. G., & Grilli, L.(2005). Founders' human capital and the growth of new technology-based firms: A competence-based view. Research Policy, 34(6), 795-816.   DOI
18 Cooper, H.(1998). Synthesizing research: A guide for literature reviews (3rd ed.). Thousand Oaks, CA: Sage.
19 Dainty, A. R., Cheng, M. I., & Moore, D. R.(2004). A competency‐based performance model for construction project managers. Construction Management and Economics, 22(8), 877-886.   DOI
20 Glass, G. V.(1976). Primary, secondary, and meta-analysis of research. Educational Researcher, 5, 3-8.   DOI
21 Grant, R. M.(1991). The resource-based theory of competitive advantage: implications for strategy formulation. California Management Review, 33(3), 114-135.   DOI
22 Herron, L. A., & Robinson Jr, R. B.(1990). Entrepreneurial skills: An empirical study of the missing link connecting the entrepreneur with venture performance. In National Academy of Management Meeting, San Francisco, CA.
23 Higgins, J., & Green, S.(Eds.)(2011). Cochrane handbook for systematic reviews of interventions version 5,1.0. The Cochrane Collaboration, Retrieved from http://handbook.cochrane.org.
24 Hunter, J. E., & Schmidt, F. L.(1990). Methods of meta-Analysis: Correcting error and bias in research findings. Newbury Park, CA: Sage.
25 Hunter, J. E., & Schmidt, F. L.(2004). Methods of meta-Analysis: Correcting error and bias in research findings. (2nd ed.). Thousand Oaks, CA: Sage.
26 Le Deist, F. D., & Winterton, J.(2005). What is competence?. Human Resource Development International, 8(1), 27-46.   DOI
27 Kaur, H., & Bains, A.(2013). Understanding the concept of entrepreneur competency. Journal of Business Management & Social Sciences Research, 2(11).
28 Kelley, D., & Marram, E.(2010). Beyond start‐up: Developing and sustaining the growing organization. The Portable MBA in Entrepreneurship(4th ed.), 355-383.
29 Kim, B. K., & Jung, C. Y.(2013). A meta-analysis on the studies of factors affecting career success and moderating effect of gender of employees in corporations. Journal of Agricultural Education and Human Resource Development, 45(2), 123-148.   DOI
30 Man, T. W.(2001). Entrepreneurial competencies and the performance of small and medium enterprises in the Hong Kong services sector. Doctoral dissertation, The Hong Kong Polytechnic University.
31 Morris, M. H., Webb, J. W., Fu, J., & Singhal, S.(2013), A competency‐based perspective on entrepreneurship education: Conceptual and empirical insights. Journal of Small Business Management, 51(3), 352-369.   DOI
32 Man, T. W., Lau, T., & Chan, K. F.(2002). The competitiveness of small and medium enterprises: A conceptualization with focus on entrepreneurial competencies. Journal of Business Venturing, 17(2), 123-142.   DOI
33 Man, T. W., Lau, T., & Snape, E.(2008). Entrepreneurial competencies and the performance of small and medium enterprises: An investigation through a framework of competitiveness. Journal of Small Business & Entrepreneurship, 21(3), 257-276.   DOI
34 Masurel, E., & Van Montfort, C. A. G. M.(2003). SME Innovation and the Crucial Role of the Entrepreneur.
35 Sadler-Smith, E., Hampson, Y., Chaston, I., & Badger, B.(2003). Managerial behavior, entrepreneurial style, and small firm performance. Journal of Small Business Management, 41(1), 47-67.   DOI
36 Snell, R., & Lau, A.(1994). Exploring local competences salient for expanding small businesses. Journal of Management Development, 13(4), 4-15.   DOI
37 Song, M., Podoynitsyna, K., Van Der Bij, H., & Halman, J. I.(2008). Success factors in new ventures: A meta-analysis. Journal of Product Innovation Management, 25(1), 7-27.   DOI
38 Tehseen, S., & Ramayah, T.(2015). Entrepreneurial competencies and SMEs business success: The contingent role of external integration, Mediterranean. Journal of Social Sciences, 6(1), 50.   DOI
39 Chung, J. H.(2010). A study on the effect of the entrepreneurship and competency on management performance. Master's Thesis, Chung-Ang University.
40 Yu, T. F. L.(2001). Entrepreneurial alertness and discovery. The Review of Austrian Economics, 14(1), 47-63.   DOI
41 Hwang, S. D.(2015). Understanding of Meta-analysis. Seoul: Hakjisa.
42 Kim, C. K., Lee, C. S., & Kim, J. S.(2014). Analysis of factors influencing the early performance oftechnology-based start-ups. Corporation Management of Academy Journal, 57, 63-86.   DOI
43 Kim, K. S(20015). A study on the effects of venture entrepreneurs' competence in their business performances. Doctoral dissertation, Kon-Kuk University.
44 Lee, D. H.(2016). The effects of psychological characteristics and competency characteristics on performance for start-up: Moderating effect of start-up consulting of consulting support program for small and medium-sized businesses. Master's Thesis, Han-Bat University.
45 Lee, H. Y., & Kim, J. S.(2017). The impacts of entrepreneurs' and entrepreneurial teams' competency on performance of new technology-based startups. Journal of the Korean Entrepreneurship Socieity, 12, 31-56.   DOI
46 Lee, H. Y., & Kim, J. S.(2018). A study on the entrepreneurial competency model in early-andlate-stage technology-based ventures. Asia-Pacific Journal of Business Venturing and Entrepreneurship, 13(4), 99-116.
47 Lee, I. W.(2009). An empirical study on the technological-orientation & market-orientation ofstartup enterprises an their effect on managerial performance. Doctoral dissertation, Kyunghee University
48 Yu, R. H.(2016). A study on the effect of SME CEO's competencies on corporate performance. Doctoraldissertation, Kyong-Gi University.
49 Lim, A. R., Kim, H. C., & Kim, K. P(2015). The effect of youth entrepreneurs' competence on entrepreneurialbehavior and entrepreneurial performance. Korean Management Consulting Review, 15(3), 143-154.