The Interaction Between Self-Efficacy, Fear of Failure, and Entrepreneurial Passion: Evidence from Business Students in Emerging Economies
This study examines the relationship between fear of failure, entrepreneurial passion, and entrepreneurial self-efficacy among university business students from four emerging Latin American economies: Mexico, Colombia, Peru, and Ecuador. This research addresses the need to understand the psychologic...
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| Format: | Article |
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MDPI AG
2025-07-01
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| Series: | Behavioral Sciences |
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| Online Access: | https://www.mdpi.com/2076-328X/15/7/951 |
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| author | Elizabeth Emperatriz García-Salirrosas Dany Yudet Millones-Liza Rafael Fernando Rondon-Eusebio Jorge Alberto Esponda-Pérez Eulalia Elizabeth Salas-Tenesaca Reinaldo Armas-Herrera María Fernanda Zumba-Zúñiga |
| author_facet | Elizabeth Emperatriz García-Salirrosas Dany Yudet Millones-Liza Rafael Fernando Rondon-Eusebio Jorge Alberto Esponda-Pérez Eulalia Elizabeth Salas-Tenesaca Reinaldo Armas-Herrera María Fernanda Zumba-Zúñiga |
| author_sort | Elizabeth Emperatriz García-Salirrosas |
| collection | DOAJ |
| description | This study examines the relationship between fear of failure, entrepreneurial passion, and entrepreneurial self-efficacy among university business students from four emerging Latin American economies: Mexico, Colombia, Peru, and Ecuador. This research addresses the need to understand the psychological factors that influence entrepreneurship, particularly in developing economies. Using non-probability convenience sampling, surveys were distributed between June 2021 and August 2022, and 961 valid responses were obtained. Scales from renowned researchers were used, which were translated and semantically validated in Spanish to measure the three variables. The data were analyzed using structural equation modeling with PLS. The overall results reveal that fear of failure negatively affects entrepreneurial passion, while entrepreneurial passion has a positive and significant relationship with entrepreneurial self-efficacy. Furthermore, entrepreneurial passion has a positive and significant relationship with fear of failure and entrepreneurial self-efficacy, with substantial differences between countries. Gender differences were also identified: in women, all relationships in the model were significant, while in men, the direct effect of fear of failure on entrepreneurial self-efficacy did not reach statistical significance. These findings contribute to the entrepreneurship literature by demonstrating that the relationship between these psychological variables varies by context (country) and gender, contradicting the notion of a universal effect. |
| format | Article |
| id | doaj-art-1aece1b87f7248babcaee3d34eca55b3 |
| institution | DOAJ |
| issn | 2076-328X |
| language | English |
| publishDate | 2025-07-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Behavioral Sciences |
| spelling | doaj-art-1aece1b87f7248babcaee3d34eca55b32025-08-20T02:45:53ZengMDPI AGBehavioral Sciences2076-328X2025-07-0115795110.3390/bs15070951The Interaction Between Self-Efficacy, Fear of Failure, and Entrepreneurial Passion: Evidence from Business Students in Emerging EconomiesElizabeth Emperatriz García-Salirrosas0Dany Yudet Millones-Liza1Rafael Fernando Rondon-Eusebio2Jorge Alberto Esponda-Pérez3Eulalia Elizabeth Salas-Tenesaca4Reinaldo Armas-Herrera5María Fernanda Zumba-Zúñiga6Faculty of Management Science, Universidad Autónoma del Perú, Lima 15842, PeruUniversidad Tecnológica del Perú, Lima 15487, PeruDepartment of Humanities, Universidad Privada del Norte, Lima 15314, PeruFaculty of Nutrition and Food Sciences, Universidad de Ciencias y Artes de Chiapas, Tuxtla Gutiérrez 29000, MexicoDepartamento de Ciencias Empresariales, Facultad de Ciencias Económicas y Empresariales, Universidad Técnica Particular de Loja, Loja 1101608, EcuadorDepartamento de Ciencias Empresariales, Facultad de Ciencias Económicas y Empresariales, Universidad Técnica Particular de Loja, Loja 1101608, EcuadorDepartamento de Ciencias Empresariales, Facultad de Ciencias Económicas y Empresariales, Universidad Técnica Particular de Loja, Loja 1101608, EcuadorThis study examines the relationship between fear of failure, entrepreneurial passion, and entrepreneurial self-efficacy among university business students from four emerging Latin American economies: Mexico, Colombia, Peru, and Ecuador. This research addresses the need to understand the psychological factors that influence entrepreneurship, particularly in developing economies. Using non-probability convenience sampling, surveys were distributed between June 2021 and August 2022, and 961 valid responses were obtained. Scales from renowned researchers were used, which were translated and semantically validated in Spanish to measure the three variables. The data were analyzed using structural equation modeling with PLS. The overall results reveal that fear of failure negatively affects entrepreneurial passion, while entrepreneurial passion has a positive and significant relationship with entrepreneurial self-efficacy. Furthermore, entrepreneurial passion has a positive and significant relationship with fear of failure and entrepreneurial self-efficacy, with substantial differences between countries. Gender differences were also identified: in women, all relationships in the model were significant, while in men, the direct effect of fear of failure on entrepreneurial self-efficacy did not reach statistical significance. These findings contribute to the entrepreneurship literature by demonstrating that the relationship between these psychological variables varies by context (country) and gender, contradicting the notion of a universal effect.https://www.mdpi.com/2076-328X/15/7/951risk perceptionachievement motivationcognitive mediatorsbusiness educationacademic entrepreneurshipdeveloping markets |
| spellingShingle | Elizabeth Emperatriz García-Salirrosas Dany Yudet Millones-Liza Rafael Fernando Rondon-Eusebio Jorge Alberto Esponda-Pérez Eulalia Elizabeth Salas-Tenesaca Reinaldo Armas-Herrera María Fernanda Zumba-Zúñiga The Interaction Between Self-Efficacy, Fear of Failure, and Entrepreneurial Passion: Evidence from Business Students in Emerging Economies Behavioral Sciences risk perception achievement motivation cognitive mediators business education academic entrepreneurship developing markets |
| title | The Interaction Between Self-Efficacy, Fear of Failure, and Entrepreneurial Passion: Evidence from Business Students in Emerging Economies |
| title_full | The Interaction Between Self-Efficacy, Fear of Failure, and Entrepreneurial Passion: Evidence from Business Students in Emerging Economies |
| title_fullStr | The Interaction Between Self-Efficacy, Fear of Failure, and Entrepreneurial Passion: Evidence from Business Students in Emerging Economies |
| title_full_unstemmed | The Interaction Between Self-Efficacy, Fear of Failure, and Entrepreneurial Passion: Evidence from Business Students in Emerging Economies |
| title_short | The Interaction Between Self-Efficacy, Fear of Failure, and Entrepreneurial Passion: Evidence from Business Students in Emerging Economies |
| title_sort | interaction between self efficacy fear of failure and entrepreneurial passion evidence from business students in emerging economies |
| topic | risk perception achievement motivation cognitive mediators business education academic entrepreneurship developing markets |
| url | https://www.mdpi.com/2076-328X/15/7/951 |
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