Entrepreneurial orientation and start-ups performance: The role of entrepreneurial self-efficacy
Abstract:
Purpose: This study examines how entrepreneurial orientation and entrepreneurial self-efficacy interact to identify and create entrepreneurial opportunities for start-ups a successful business in North Central Nigeria.
Research Methodology: Primary data were collected using questionnaires from a sample size of 354 SMEs owners and analyzed using PLS-SEM version 4.1.0.4.
Results: The results indicated significant positive relationships between EO and SP, EO and ESU, ESU and SP, EO and EOP, and EOP and SP. Mediation analysis revealed partial mediation of EOP and ESU on the relationship between EO and SP. The moderation analysis revealed that with an increase in ESE, the relationship between EO and SP is strengthened; ESE does not moderate the relationship between EO and ESU; higher ESE weakens the positive impact of ESU on SP, while a higher value of ESE results in a stronger relationship between EOP and SP, as depicted in graph 1-4.
Limitations: The study is limited to entrepreneurial orientation, self-efficacy, opportunities, and startups in North Central Nigeria.
Contribution: This study provides valuable insights to policymakers in entrepreneurship to create a holistic orientation policy that will ensure that people see the need and opportunities to engage in farming in order to ensure profits for the individual and food availability for the majority population.
Originality: This is the first study in Nigeria (Africa) to test how entrepreneurial orientation and self-efficacy interact to identify and create opportunities to start a successful business.
Downloads

This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
Abdullahi, M. S., Jakada, B. A., & Kabir, S. (2016). Challenges affecting the performance of small and medium scale enterprises (SMEs) in Nigeria. Journal of Human Capital Development (JHCD), 9(2), 21-46.
Abiodun, E. A. (2020). Entrepreneurial self-efficacy, entrepreneurial orientation, and institutional environment: SME in Nigeria. SCMS Journal of Indian Management, 17(1), 16-27.
Al Mamun, A., & Fazal, S. A. (2018). Effect of entrepreneurial orientation on competency and micro-enterprise performance. Asia Pacific Journal of Innovation and Entrepreneurship, 12(3), 379-398. https://doi.org/10.1108/APJIE-05-2018-0033.
Alam, S. S., Mohd, R., Kamaruddin, B. H., & Nor, N. G. M. (2015). Personal values and entrepreneurial orientations in Malay entrepreneurs in Malaysia: Mediating role of self-efficacy. International Journal of Commerce and Management, 25(4), 385-401. https://doi.org/10.1108/IJCoMA-01-2013-0001.
Asogwa, O. S., Onyekwelu, N. P., & Azubike, N. U. (2023). Effects of security challenges on business sustainability of SMEs in Nigeria. International Journal Of Business And Management Research, 3(2).
Astuti, R. D., Balqiah, T. E., & Yuliati, E. (2024). ROLE OF INDIVIDuAL ENTREPRENEuRIAL ORIENTATION AND INNOVATION IN SME PERFORMANCE: GENDER PERSPECTIVES. http://dx.doi.org/10.21511/ppm.22(2).2024.28.
Ataei, P., Karimi, H., & Zarei, R. (2024). The role of entrepreneurial leadership, intellectual capital, innovativeness culture, and entrepreneurial orientation in entrepreneurial opportunity recognition by students. Journal of Open Innovation: Technology, Market, and Complexity, 10(2), 100265. https://doi.org/10.1016/j.joitmc.2024.100265.
Aurellia, J., & Nuringsih, K. (2023). The role of green entrepreneurial orientation and self-efficacy to encourage student intention in green entrepreneurship. International Journal of Application on Economics and Business, 1(1), 199-207. https://doi.org/10.24912/ijaeb.v1i1.199-207 .
Baba, M. (2014). Relationship between entrepreneurial orientation, entrepreneurial education, self-efficacy and entrepreneurial intention among undergraduate students at Nigeria universities. Universiti Utara Malaysia.
Bapoo, M. A., Tehseen, S., Haider, S. A., Yusof, M., & Motaghi, H. (2022). Sustainability orientation and sustainable entrepreneurship intention: The mediating role of entrepreneurial opportunity recognition. Academy of Entrepreneurship Journal, 28(2), 1-23. 10.9770/jesi.2019.7.2(14).
Baron, R. A. (2006). Opportunity recognition as pattern recognition: How entrepreneurs “connect the dots” to identify new business opportunities. Academy of management perspectives, 20(1), 104-119. https://doi.org/10.5465/amp.2006.19873412.
Ben, P. (2013). Opportunity recognition and business idea generation as a foundation for entrepreneurial businesses in central Nigeria. International Journal of Business and Social Science, 4(17).
Bismala, L., Manurung, Y. H., Andriany, D., & Siregar, G. (2022). How does Entrepreneurial Education Promote Medical Students' Entrepreneurial Orientation? Journal of Education Research and Evaluation, 6(4), 696-703. https://doi.org/10.23887/jere.v6i4.47747.
Bolton, D. L., & Lane, M. D. (2012). Individual entrepreneurial orientation: Development of a measurement instrument. Education+ Training, 54(2-3), 219-233. https://doi.org/10.1108/00400911211210314.
Caliendo, M., Kritikos, A. S., Rodriguez, D., & Stier, C. (2023). Self-efficacy and entrepreneurial performance of start-ups. Small Business Economics, 61(3), 1027-1051. https://doi.org/10.1007/s11187-022-00728-0.
Caliendo, M., Kritikos, A. S., & Stier, C. (2023). The influence of start-up motivation on entrepreneurial performance. Small Business Economics, 61(3), 869-889. https://doi.org/10.1007/s11187-022-00722-6.
Corrêa, V. S., Queiroz, M. M., Cruz, M. A., & Shigaki, H. B. (2022). Entrepreneurial orientation far beyond opportunity: the influence of the necessity for innovativeness, proactiveness and risk-taking. International Journal of Entrepreneurial Behavior & Research, 28(4), 952-979. https://doi.org/10.1108/IJEBR-06-2021-0518.
Correll, J., Mellinger, C., McClelland, G. H., & Judd, C. M. (2020). Avoid Cohen’s ‘small’,‘medium’, and ‘large’for power analysis. Trends in cognitive sciences, 24(3), 200-207. 10.1016/j.tics.2019.12.009.
Covin, J. G., Rigtering, J. C., Hughes, M., Kraus, S., Cheng, C.-F., & Bouncken, R. B. (2020). Individual and team entrepreneurial orientation: Scale development and configurations for success. Journal of Business Research, 112, 1-12. https://doi.org/10.1016/j.jbusres.2020.02.023.
Covin, J. G., & Slevin, D. P. (1989). Strategic management of small firms in hostile and benign environments. Strategic Management Journal, 10(1), 75-87. https://doi.org/10.1002/smj.4250100107.
Diawati, P., Muhamad, L. F., Permana, R. M., & Suparwata, D. O. (2024). Innovative Strategies of SMEs in Alignment with Community Needs. Jurnal Terobosan Peduli Masyarakat (TIRAKAT), 1(1), 30-38. https://doi.org/10.61100/j.tirakat.v1i1.103.
Drnovšek, M., Wincent, J., & Cardon, M. S. (2010). Entrepreneurial self?efficacy and business start?up: developing a multi?dimensional definition. International Journal of Entrepreneurial Behavior & Research, 16(4), 329-348. https://doi.org/10.1108/13552551011054516.
Etim, O., Akpan, J., Augustine, B., & Michael, E. (2022). Small business mortality and survival strategies in Nigeria. International Journal of Applied Business and Management Sciences, 3(2), 121-160. 10.47509/IJABMS.2022.v03i02.01.
Fatima, T., & Bilal, A. R. (2020). Individual Entrepreneurial Orientation, Access to Finance, and SME Performance: Fortifying Role of Entrepreneurial Alertness. Abasyn University Journal of Social Sciences, 13(1). 10.34091/AJSS.13.1.17.
Ferreira, M. P., Reis, N. R., & Pinto, C. S. F. (2017). Schumpeter's (1934) influence on entrepreneurship (and management) research. REGEPE-Revista de Empreendedorismo e Gestão de Pequenas Empresas, 6(1), 04-39. 10.14211/regepe.v6i1.483.
Filser, M., Tiberius, V., Kraus, S., Zeitlhofer, T., Kailer, N., & Müller, A. (2023). Opportunity recognition: Conversational foundations and pathways ahead. Entrepreneurship Research Journal, 13(1), 1-30. https://doi.org/10.1515/erj-2020-0124.
Frare, A. B., Cruz, A. P. C. d., Lavarda, C. E. F., & Akroyd, C. (2022). Packages of management control systems, entrepreneurial orientation and performance in Brazilian startups. Journal of Accounting & Organizational Change, 18(5), 643-665. https://doi.org/10.1108/JAOC-04-2021-0052.
Garg, A. K., Joubert, R., & Pellissier, R. (2004). Measuring business performance: A case study. Southern African Business Review, 8(1), 7-21.
Ghezzi, A., Gastaldi, L., Lettieri, E., Martini, A., & Corso, M. (2016). A role for startups in unleashing the disruptive power of social media. International Journal of Information Management, 36(6), 1152-1159. https://doi.org/10.1016/j.ijinfomgt.2016.04.007.
Greco, F. (2023). Startup Ecosystems. Studies on Entrepreneurship, Structural Change and Industrial Dynamics; Springer: Berlin/Heidelberg, Germany.
Gumel, B. I. (2019). Mitigating the challenges of small and medium enterprises in Nigeria. SEISENSE Journal of Management, 2(3), 82-99. 10.33215/sjom.v2i3.129 .
Hair, J. F., Hult, G. T. M., Ringle, C. M., & Sarstedt, M. (2014). A Primer on Partial Least Squares Structural Equation Modeling.
Halberstadt, J., Niemand, T., Kraus, S., Rexhepi, G., Jones, P., & Kailer, N. (2021). Social entrepreneurship orientation: Drivers of success for start-ups and established industrial firms. Industrial Marketing Management, 94, 137-149. https://doi.org/10.1016/j.indmarman.2020.06.012.
Katunku, L. F., Sallah, B. N., Auta, H. D., & Ishaya, P. B. (2024). Digital marketing and brand experience on SMEs performances in Jos South LGA of Plateau State. Journal of Digital Business and Marketing, 1(2), 49-67.
Kee, D. M. H., & Rahman, N. A. (2020). How to Measure Start-Up Success? A Systematic Review from a Multidimensional Perspective. A Systematic Review from a Multidimensional Perspective (June 30, 2020). http://dx.doi.org/10.2139/ssrn.3638863
Korpysa, J. (2019). Entrepreneurial orientation of startups: Research results. International Entrepreneurship Review, 5(2), 37. 10.15678/IER.2019.0502.03.
Kronholm, T., & Vidhall, M. The entrepreneur in the cluster.
Kropp, F., Lindsay, N. J., & Shoham, A. (2008). Entrepreneurial orientation and international entrepreneurial business venture startup. International Journal of Entrepreneurial Behavior & Research, 14(2), 102-117. https://doi.org/10.1108/13552550810863080.
Kuckertz, A., Kollmann, T., Krell, P., & Stöckmann, C. (2017). Understanding, differentiating, and measuring opportunity recognition and opportunity exploitation. International Journal of Entrepreneurial Behavior & Research, 23(1), 78-97. https://doi.org/10.1108/IJEBR-12-2015-0290.
Kusa, N. D., & Nson, Y. D. (2023). Entrepreneurial passion on the success of SME’s in Plateau State, Nigeria: The role of entrepreneurial skills. Journal of Sustainable Tourism and Entrepreneurship, 5(1), 57-74. https://doi.org/10.35912/joste.v5i1.2124.
Lee, E. A., Seo, J. H., & Shim, Y. S. (2019). A study on the entrepreneurial orientation and the performance of startups: The mediating effects of technological orientation and social capital. Asia-Pacific Journal of Business Venturing and Entrepreneurship, 14(2), 47-59.
Magliocca, P., Herold, D. M. M., Canestrino, R., Temperini, V., & Albino, V. (2023). The role of start-ups as knowledge brokers: a supply chain ecosystem perspective. Journal of Knowledge Management, 27(10), 2625-2641. https://doi.org/10.1108/JKM-07-2022-0593.
Makhloufi, L., Laghouag, A. A., & Ali Sahli, A. (2024). Mediating effect of absorptive capacity on the relationship between knowledge sharing and entrepreneurial orientation and the moderating role of opportunity recognition. Journal of Research in Marketing and Entrepreneurship, 26(2), 415-439. https://doi.org/10.1108/JRME-07-2023-0123.
McGee, J. E., & Peterson, M. (2019). The long?term impact of entrepreneurial self?efficacy and entrepreneurial orientation on venture performance. Journal of small business management, 57(3), 720-737. https://doi.org/10.1111/jsbm.12324.
Megha, R., & Priyadharshini, R. (2021). Entrepreneurial Orientation and Business Performance in Startups. Journal of business venturing, 11(7), 178-189.
Miller, D. (2011). Miller (1983) revisited: A reflection on EO research and some suggestions for the future. Entrepreneurship theory and practice, 35(5), 873-894. https://doi.org/10.1111/j.1540-6520.2011.00457.x.
Muliyanto, M., Indrayani, I., Satriawan, B., Ngaliman, N., & Catrayasa, I. W. (2023). The influence of competence, motivation, and work culture on employee performance through self-efficacy as an intervening variable for medical support employees Regional General Hospital Tanjungpinang City. Journal of Multidisciplinary Academic Business Studies, 1(1), 1-12. https://doi.org/10.35912/jomabs.v1i1.1777.
Nson, Y. D. (2024). Sustainability of the society through green human resources management practices: A proposed model. Annals of Human Resource Management Research, 4(1), 43-59. https://doi.org/10.35912/ahrmr.v4i1.2161.
Olugbola, S. A. (2017). Exploring entrepreneurial readiness of youth and startup success components: Entrepreneurship training as a moderator. Journal of innovation & Knowledge, 2(3), 155-171. https://doi.org/10.1016/j.jik.2016.12.004.
Park, Y., Konge, L., & Artino, A. (2020). The positivism paradigm of research. Academic medicine. Journal of the Associafion of American Medical College, 95(5), 690-694. 10.1097/ACM.0000000000003093.
Pranitasari, D., Anhar, M., Warcito, W., Said, M., Harini, S., & Endri, E. (2024). Optimism and entrepreneurial self-efficacy in Indonesia MSMEs. Journal of Infrastructure, Policy and Development, 8(10), 6238. https://doi.org/10.24294/jipd.v8i10.6238
Ressin, M. (2022). Start-ups as drivers of economic growth. Research in Economics, 76(4), 345-354. https://doi.org/10.1016/j.rie.2022.08.003.
Ruiz-Palomino, P., & Martínez-Cañas, R. (2021). From opportunity recognition to the start-up phase: the moderating role of family and friends-based entrepreneurial social networks. International Entrepreneurship and Management Journal, 17(3), 1159-1182. https://doi.org/10.1007/s11365-020-00734-2.
Shamsudeen, K., Keat, O. Y., & Hassan, H. (2017). Entrepreneurial success within the process of opportunity recognition and exploitation: An expansion of entrepreneurial opportunity recognition model. International Review of Management and Marketing, 7(1), 107-111.
Sobakinova, D., Zhou, Y., & Aureaar, K. A. A. (2019). Self-efficacy, opportunity recognition and business ideas. Paper presented at the Proceedings of the 2019 10th International Conference on E-business, Management and Economics. https://doi.org/10.1145/3345035.3345079.
Srimulyani, V. A., & Hermanto, Y. B. (2021). Impact of entrepreneurial self-efficacy and entrepreneurial motivation on micro and small business success for food and beverage sector in east Java, Indonesia. Economies, 10(1), 10. https://doi.org/10.3390/economies10010010.
Sulaimiah, Nuruly, S., Suprayetno, D., Wardani, L., & Endri, E. (2024). The impact of self-esteem and self-efficacy on the performance of medical personnel: The mediating role of job satisfaction. Edelweiss Applied Science and Technology, 8(4), 1212–1221. https://doi.org/10.55214/25768484.v8i4.1496.
Wales, W. J., Covin, J. G., & Monsen, E. (2020). Entrepreneurial orientation: The necessity of a multilevel conceptualization. Strategic Entrepreneurship Journal, 14(4), 639-660. https://doi.org/10.1002/sej.1344.
Wang, Y. L., Ellinger, A. D., & Jim Wu, Y. C. (2013). Entrepreneurial opportunity recognition: an empirical study of R&D personnel. Management Decision, 51(2), 248-266. https://doi.org/10.1108/00251741311301803.
Wei, Z., Lee, M.-J., Jia, Z., & Roh, T. (2023). Do entrepreneurial resources drive startup activation? Mediating effect of entrepreneurial orientation. Heliyon, 9(4). 10.1016/j.heliyon.2023.e15603.
Wibowo, I. D. F., & Khan, N. S. (2024). The role of self-efficacy: Entrepreneurial knowledge and attitude toward entrepreneurship to entrepreneurial intention. Journal of Management and Business Insight, 2(1), 1-14. https://doi.org/10.12928/jombi.v2i1.805.
Yang, J. H. (2020). A study of entrepreneurship education on entrepreneurial orientation of Korean and Chinese university students: focused on entrepreneurial self-efficacy as mediator. Asia-Pacific Journal of Business Venturing and Entrepreneurship, 15(3), 233-242.
Yunusa, Z. F., Aminu, M., Badara, M. S., & Naala, N. (2022). Moderating effect of entrepreneurial self-efficacy on the relationship between entrepreneurial orientation and performance of small and medium enterprises in Gombe State. NDA Journal of Management Sciences Research, 2(1), 178-188.
- Abdullahi, M. S., Jakada, B. A., & Kabir, S. (2016). Challenges affecting the performance of small and medium scale enterprises (SMEs) in Nigeria. Journal of Human Capital Development (JHCD), 9(2), 21-46.
- Abiodun, E. A. (2020). Entrepreneurial self-efficacy, entrepreneurial orientation, and institutional environment: SME in Nigeria. SCMS Journal of Indian Management, 17(1), 16-27.
- Al Mamun, A., & Fazal, S. A. (2018). Effect of entrepreneurial orientation on competency and micro-enterprise performance. Asia Pacific Journal of Innovation and Entrepreneurship, 12(3), 379-398. https://doi.org/10.1108/APJIE-05-2018-0033.
- Alam, S. S., Mohd, R., Kamaruddin, B. H., & Nor, N. G. M. (2015). Personal values and entrepreneurial orientations in Malay entrepreneurs in Malaysia: Mediating role of self-efficacy. International Journal of Commerce and Management, 25(4), 385-401. https://doi.org/10.1108/IJCoMA-01-2013-0001.
- Asogwa, O. S., Onyekwelu, N. P., & Azubike, N. U. (2023). Effects of security challenges on business sustainability of SMEs in Nigeria. International Journal Of Business And Management Research, 3(2).
- Astuti, R. D., Balqiah, T. E., & Yuliati, E. (2024). ROLE OF INDIVIDuAL ENTREPRENEuRIAL ORIENTATION AND INNOVATION IN SME PERFORMANCE: GENDER PERSPECTIVES. http://dx.doi.org/10.21511/ppm.22(2).2024.28.
- Ataei, P., Karimi, H., & Zarei, R. (2024). The role of entrepreneurial leadership, intellectual capital, innovativeness culture, and entrepreneurial orientation in entrepreneurial opportunity recognition by students. Journal of Open Innovation: Technology, Market, and Complexity, 10(2), 100265. https://doi.org/10.1016/j.joitmc.2024.100265.
- Aurellia, J., & Nuringsih, K. (2023). The role of green entrepreneurial orientation and self-efficacy to encourage student intention in green entrepreneurship. International Journal of Application on Economics and Business, 1(1), 199-207. https://doi.org/10.24912/ijaeb.v1i1.199-207 .
- Baba, M. (2014). Relationship between entrepreneurial orientation, entrepreneurial education, self-efficacy and entrepreneurial intention among undergraduate students at Nigeria universities. Universiti Utara Malaysia.
- Bapoo, M. A., Tehseen, S., Haider, S. A., Yusof, M., & Motaghi, H. (2022). Sustainability orientation and sustainable entrepreneurship intention: The mediating role of entrepreneurial opportunity recognition. Academy of Entrepreneurship Journal, 28(2), 1-23. 10.9770/jesi.2019.7.2(14).
- Baron, R. A. (2006). Opportunity recognition as pattern recognition: How entrepreneurs “connect the dots” to identify new business opportunities. Academy of management perspectives, 20(1), 104-119. https://doi.org/10.5465/amp.2006.19873412.
- Ben, P. (2013). Opportunity recognition and business idea generation as a foundation for entrepreneurial businesses in central Nigeria. International Journal of Business and Social Science, 4(17).
- Bismala, L., Manurung, Y. H., Andriany, D., & Siregar, G. (2022). How does Entrepreneurial Education Promote Medical Students' Entrepreneurial Orientation? Journal of Education Research and Evaluation, 6(4), 696-703. https://doi.org/10.23887/jere.v6i4.47747.
- Bolton, D. L., & Lane, M. D. (2012). Individual entrepreneurial orientation: Development of a measurement instrument. Education+ Training, 54(2-3), 219-233. https://doi.org/10.1108/00400911211210314.
- Caliendo, M., Kritikos, A. S., Rodriguez, D., & Stier, C. (2023). Self-efficacy and entrepreneurial performance of start-ups. Small Business Economics, 61(3), 1027-1051. https://doi.org/10.1007/s11187-022-00728-0.
- Caliendo, M., Kritikos, A. S., & Stier, C. (2023). The influence of start-up motivation on entrepreneurial performance. Small Business Economics, 61(3), 869-889. https://doi.org/10.1007/s11187-022-00722-6.
- Corrêa, V. S., Queiroz, M. M., Cruz, M. A., & Shigaki, H. B. (2022). Entrepreneurial orientation far beyond opportunity: the influence of the necessity for innovativeness, proactiveness and risk-taking. International Journal of Entrepreneurial Behavior & Research, 28(4), 952-979. https://doi.org/10.1108/IJEBR-06-2021-0518.
- Correll, J., Mellinger, C., McClelland, G. H., & Judd, C. M. (2020). Avoid Cohen’s ‘small’,‘medium’, and ‘large’for power analysis. Trends in cognitive sciences, 24(3), 200-207. 10.1016/j.tics.2019.12.009.
- Covin, J. G., Rigtering, J. C., Hughes, M., Kraus, S., Cheng, C.-F., & Bouncken, R. B. (2020). Individual and team entrepreneurial orientation: Scale development and configurations for success. Journal of Business Research, 112, 1-12. https://doi.org/10.1016/j.jbusres.2020.02.023.
- Covin, J. G., & Slevin, D. P. (1989). Strategic management of small firms in hostile and benign environments. Strategic Management Journal, 10(1), 75-87. https://doi.org/10.1002/smj.4250100107.
- Diawati, P., Muhamad, L. F., Permana, R. M., & Suparwata, D. O. (2024). Innovative Strategies of SMEs in Alignment with Community Needs. Jurnal Terobosan Peduli Masyarakat (TIRAKAT), 1(1), 30-38. https://doi.org/10.61100/j.tirakat.v1i1.103.
- Drnovšek, M., Wincent, J., & Cardon, M. S. (2010). Entrepreneurial self?efficacy and business start?up: developing a multi?dimensional definition. International Journal of Entrepreneurial Behavior & Research, 16(4), 329-348. https://doi.org/10.1108/13552551011054516.
- Etim, O., Akpan, J., Augustine, B., & Michael, E. (2022). Small business mortality and survival strategies in Nigeria. International Journal of Applied Business and Management Sciences, 3(2), 121-160. 10.47509/IJABMS.2022.v03i02.01.
- Fatima, T., & Bilal, A. R. (2020). Individual Entrepreneurial Orientation, Access to Finance, and SME Performance: Fortifying Role of Entrepreneurial Alertness. Abasyn University Journal of Social Sciences, 13(1). 10.34091/AJSS.13.1.17.
- Ferreira, M. P., Reis, N. R., & Pinto, C. S. F. (2017). Schumpeter's (1934) influence on entrepreneurship (and management) research. REGEPE-Revista de Empreendedorismo e Gestão de Pequenas Empresas, 6(1), 04-39. 10.14211/regepe.v6i1.483.
- Filser, M., Tiberius, V., Kraus, S., Zeitlhofer, T., Kailer, N., & Müller, A. (2023). Opportunity recognition: Conversational foundations and pathways ahead. Entrepreneurship Research Journal, 13(1), 1-30. https://doi.org/10.1515/erj-2020-0124.
- Frare, A. B., Cruz, A. P. C. d., Lavarda, C. E. F., & Akroyd, C. (2022). Packages of management control systems, entrepreneurial orientation and performance in Brazilian startups. Journal of Accounting & Organizational Change, 18(5), 643-665. https://doi.org/10.1108/JAOC-04-2021-0052.
- Garg, A. K., Joubert, R., & Pellissier, R. (2004). Measuring business performance: A case study. Southern African Business Review, 8(1), 7-21.
- Ghezzi, A., Gastaldi, L., Lettieri, E., Martini, A., & Corso, M. (2016). A role for startups in unleashing the disruptive power of social media. International Journal of Information Management, 36(6), 1152-1159. https://doi.org/10.1016/j.ijinfomgt.2016.04.007.
- Greco, F. (2023). Startup Ecosystems. Studies on Entrepreneurship, Structural Change and Industrial Dynamics; Springer: Berlin/Heidelberg, Germany.
- Gumel, B. I. (2019). Mitigating the challenges of small and medium enterprises in Nigeria. SEISENSE Journal of Management, 2(3), 82-99. 10.33215/sjom.v2i3.129 .
- Hair, J. F., Hult, G. T. M., Ringle, C. M., & Sarstedt, M. (2014). A Primer on Partial Least Squares Structural Equation Modeling.
- Halberstadt, J., Niemand, T., Kraus, S., Rexhepi, G., Jones, P., & Kailer, N. (2021). Social entrepreneurship orientation: Drivers of success for start-ups and established industrial firms. Industrial Marketing Management, 94, 137-149. https://doi.org/10.1016/j.indmarman.2020.06.012.
- Katunku, L. F., Sallah, B. N., Auta, H. D., & Ishaya, P. B. (2024). Digital marketing and brand experience on SMEs performances in Jos South LGA of Plateau State. Journal of Digital Business and Marketing, 1(2), 49-67.
- Kee, D. M. H., & Rahman, N. A. (2020). How to Measure Start-Up Success? A Systematic Review from a Multidimensional Perspective. A Systematic Review from a Multidimensional Perspective (June 30, 2020). http://dx.doi.org/10.2139/ssrn.3638863
- Korpysa, J. (2019). Entrepreneurial orientation of startups: Research results. International Entrepreneurship Review, 5(2), 37. 10.15678/IER.2019.0502.03.
- Kronholm, T., & Vidhall, M. The entrepreneur in the cluster.
- Kropp, F., Lindsay, N. J., & Shoham, A. (2008). Entrepreneurial orientation and international entrepreneurial business venture startup. International Journal of Entrepreneurial Behavior & Research, 14(2), 102-117. https://doi.org/10.1108/13552550810863080.
- Kuckertz, A., Kollmann, T., Krell, P., & Stöckmann, C. (2017). Understanding, differentiating, and measuring opportunity recognition and opportunity exploitation. International Journal of Entrepreneurial Behavior & Research, 23(1), 78-97. https://doi.org/10.1108/IJEBR-12-2015-0290.
- Kusa, N. D., & Nson, Y. D. (2023). Entrepreneurial passion on the success of SME’s in Plateau State, Nigeria: The role of entrepreneurial skills. Journal of Sustainable Tourism and Entrepreneurship, 5(1), 57-74. https://doi.org/10.35912/joste.v5i1.2124.
- Lee, E. A., Seo, J. H., & Shim, Y. S. (2019). A study on the entrepreneurial orientation and the performance of startups: The mediating effects of technological orientation and social capital. Asia-Pacific Journal of Business Venturing and Entrepreneurship, 14(2), 47-59.
- Magliocca, P., Herold, D. M. M., Canestrino, R., Temperini, V., & Albino, V. (2023). The role of start-ups as knowledge brokers: a supply chain ecosystem perspective. Journal of Knowledge Management, 27(10), 2625-2641. https://doi.org/10.1108/JKM-07-2022-0593.
- Makhloufi, L., Laghouag, A. A., & Ali Sahli, A. (2024). Mediating effect of absorptive capacity on the relationship between knowledge sharing and entrepreneurial orientation and the moderating role of opportunity recognition. Journal of Research in Marketing and Entrepreneurship, 26(2), 415-439. https://doi.org/10.1108/JRME-07-2023-0123.
- McGee, J. E., & Peterson, M. (2019). The long?term impact of entrepreneurial self?efficacy and entrepreneurial orientation on venture performance. Journal of small business management, 57(3), 720-737. https://doi.org/10.1111/jsbm.12324.
- Megha, R., & Priyadharshini, R. (2021). Entrepreneurial Orientation and Business Performance in Startups. Journal of business venturing, 11(7), 178-189.
- Miller, D. (2011). Miller (1983) revisited: A reflection on EO research and some suggestions for the future. Entrepreneurship theory and practice, 35(5), 873-894. https://doi.org/10.1111/j.1540-6520.2011.00457.x.
- Muliyanto, M., Indrayani, I., Satriawan, B., Ngaliman, N., & Catrayasa, I. W. (2023). The influence of competence, motivation, and work culture on employee performance through self-efficacy as an intervening variable for medical support employees Regional General Hospital Tanjungpinang City. Journal of Multidisciplinary Academic Business Studies, 1(1), 1-12. https://doi.org/10.35912/jomabs.v1i1.1777.
- Nson, Y. D. (2024). Sustainability of the society through green human resources management practices: A proposed model. Annals of Human Resource Management Research, 4(1), 43-59. https://doi.org/10.35912/ahrmr.v4i1.2161.
- Olugbola, S. A. (2017). Exploring entrepreneurial readiness of youth and startup success components: Entrepreneurship training as a moderator. Journal of innovation & Knowledge, 2(3), 155-171. https://doi.org/10.1016/j.jik.2016.12.004.
- Park, Y., Konge, L., & Artino, A. (2020). The positivism paradigm of research. Academic medicine. Journal of the Associafion of American Medical College, 95(5), 690-694. 10.1097/ACM.0000000000003093.
- Pranitasari, D., Anhar, M., Warcito, W., Said, M., Harini, S., & Endri, E. (2024). Optimism and entrepreneurial self-efficacy in Indonesia MSMEs. Journal of Infrastructure, Policy and Development, 8(10), 6238. https://doi.org/10.24294/jipd.v8i10.6238
- Ressin, M. (2022). Start-ups as drivers of economic growth. Research in Economics, 76(4), 345-354. https://doi.org/10.1016/j.rie.2022.08.003.
- Ruiz-Palomino, P., & Martínez-Cañas, R. (2021). From opportunity recognition to the start-up phase: the moderating role of family and friends-based entrepreneurial social networks. International Entrepreneurship and Management Journal, 17(3), 1159-1182. https://doi.org/10.1007/s11365-020-00734-2.
- Shamsudeen, K., Keat, O. Y., & Hassan, H. (2017). Entrepreneurial success within the process of opportunity recognition and exploitation: An expansion of entrepreneurial opportunity recognition model. International Review of Management and Marketing, 7(1), 107-111.
- Sobakinova, D., Zhou, Y., & Aureaar, K. A. A. (2019). Self-efficacy, opportunity recognition and business ideas. Paper presented at the Proceedings of the 2019 10th International Conference on E-business, Management and Economics. https://doi.org/10.1145/3345035.3345079.
- Srimulyani, V. A., & Hermanto, Y. B. (2021). Impact of entrepreneurial self-efficacy and entrepreneurial motivation on micro and small business success for food and beverage sector in east Java, Indonesia. Economies, 10(1), 10. https://doi.org/10.3390/economies10010010.
- Sulaimiah, Nuruly, S., Suprayetno, D., Wardani, L., & Endri, E. (2024). The impact of self-esteem and self-efficacy on the performance of medical personnel: The mediating role of job satisfaction. Edelweiss Applied Science and Technology, 8(4), 1212–1221. https://doi.org/10.55214/25768484.v8i4.1496.
- Wales, W. J., Covin, J. G., & Monsen, E. (2020). Entrepreneurial orientation: The necessity of a multilevel conceptualization. Strategic Entrepreneurship Journal, 14(4), 639-660. https://doi.org/10.1002/sej.1344.
- Wang, Y. L., Ellinger, A. D., & Jim Wu, Y. C. (2013). Entrepreneurial opportunity recognition: an empirical study of R&D personnel. Management Decision, 51(2), 248-266. https://doi.org/10.1108/00251741311301803.
- Wei, Z., Lee, M.-J., Jia, Z., & Roh, T. (2023). Do entrepreneurial resources drive startup activation? Mediating effect of entrepreneurial orientation. Heliyon, 9(4). 10.1016/j.heliyon.2023.e15603.
- Wibowo, I. D. F., & Khan, N. S. (2024). The role of self-efficacy: Entrepreneurial knowledge and attitude toward entrepreneurship to entrepreneurial intention. Journal of Management and Business Insight, 2(1), 1-14. https://doi.org/10.12928/jombi.v2i1.805.
- Yang, J. H. (2020). A study of entrepreneurship education on entrepreneurial orientation of Korean and Chinese university students: focused on entrepreneurial self-efficacy as mediator. Asia-Pacific Journal of Business Venturing and Entrepreneurship, 15(3), 233-242.
- Yunusa, Z. F., Aminu, M., Badara, M. S., & Naala, N. (2022). Moderating effect of entrepreneurial self-efficacy on the relationship between entrepreneurial orientation and performance of small and medium enterprises in Gombe State. NDA Journal of Management Sciences Research, 2(1), 178-188.