The Relationship between Entrepreneurial Self‐Efficacy and Firm Performance: A Meta‐Analysis of Main and Moderator Effects*

Entrepreneurial self‐efficacy (ESE) is an important construct in entrepreneurship research. It captures entrepreneurs’ specific self‐efficacy in accomplishing entrepreneurial tasks. Because various empirical results exist in past studies of the ESE‐firm performance relationship, we employed meta‐analysis to review and synthesize the current literature concerning this relationship and to address moderators that influence it. We meta‐analyzed 27 samples from 26 studies with a total sample size of 5,065 firms and found that the corrected ESE‐firm performance correlation is 0.309. We found that the firm performance measurement is a significant moderator and we suggest scholars to further identify moderators.

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