European Research in Entrepreneurship series
Edited by Alain Fayolle, Paula Kyrö, Tonis Mets and Urve Venesaar
Chapter 2: Personal values and entrepreneurial intention: an empirical study
The influence of the social environment on individual perceptions and preferences is widely recognized nowadays (Baum et al., 2007; Shane and Venkataraman, 2000). Aspects such as cognitive social capital (Liñán and Santos, 2007) or cultural values (Hofstede, 1980; Hofstede, 1991) influence people’s personal decisions. However, the role of individual values has received relatively little attention in this regard. According to Schwartz (1990), values shape the person’s motivational goals. This author suggests a circular structure of values in which individualistic persons tend to give greater importance to values such as power, achievement, hedonism, stimulation and self-direction. Meanwhile, collectivist people tend to stress alternative values such as benevolence, tradition and compliance. Within Schwartz’s (1990) value structure, there are two additional values to be considered: universalism and security.
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