Skip to main content
SpringerLink
Log in

Risk Perception and Entrepreneurial Intention Under Emergency (COVID-19): An Empirical Study in China

  • Conference paper
  • First Online:
Proceedings of the Fifteenth International Conference on Management Science and Engineering Management (ICMSEM 2021)

Part of the book series: Lecture Notes on Data Engineering and Communications Technologies ((LNDECT,volume 79))

Abstract

The COVID-19 epidemic has greatly affected the global economy, businesses, and people’s lives. Small and medium-sized enterprises have faced shutdowns, bankruptcy, and layoffs, among other issues. As an important measure for boosting employment and economic development, starting up businesses warrants attention from both government and society. This study, therefore, examines the risk perception and entrepreneurial intention of potential entrepreneurs in the context of the COVID-19 epidemic. A sample of 387 potential entrepreneurs is surveyed. Two main risks perception are identified: uncertainty and entrepreneurial capacity risk. Propensity score matching (PSM) shows that individual risk perception is negatively related to entrepreneurial intention in the emergency context. Furthermore, the two dimensions of risk perception have different influences on entrepreneurial intention.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Log in via an institution
Chapter
USD 29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD 259.00
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
USD 329.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

References

  1. Arenius, P., Minniti, M.: Perceptual variables and nascent entrepreneurship. Small Bus. Econ. 24(3), 233–247 (2005)

    Article  Google Scholar 

  2. Arrak, K., Kaasa, A., Varblane, U.: Regional cultural context as a determinant of entrepreneurial behaviour: the case of Germany. J. Entrepreneurship 29(1), 88–118 (2020)

    Article  Google Scholar 

  3. Bacq, S., Eddleston, K.A.: A resource-based view of social entrepreneurship: how stewardship culture benefits scale of social impact. J. Bus. Ethics 152(3), 589–611 (2018)

    Article  Google Scholar 

  4. Bayon, M.C., Vaillant, Y.: International variations in the impact of perceived entrepreneurial ability and actual ability on entrepreneurial activities. Strateg. Chang. 25(2), 131–150 (2016)

    Article  Google Scholar 

  5. Biraglia, A., Kadile, V.: The role of entrepreneurial passion and creativity in developing entrepreneurial intentions: insights from american homebrewers. J. Small Bus. Manage. 55(1), 170–188 (2017)

    Article  Google Scholar 

  6. Chen, F.W., Lin, M.X., Wang, T.: Sustainable resource acquisition path: a dynamic model of embedded entrepreneurial network governance under uncertainty. Sustainability 10(11), 4061 (2018)

    Article  Google Scholar 

  7. Chen, W.: The study on influencing factors of entrepreneurial intentions. In: Proceedings Paper, pp. 346–349 (2010)

    Google Scholar 

  8. Chua, R.Y.J., Iyengar, S.S.: Creativity as a matter of choice: prior experience and task instruction as boundary conditions for the positive effect of choice on creativity. J. Creative Behav. 42(3), 164–180 (2008). https://doi.org/10.1002/j.2162-6057.2008.tb01293.x

    Article  Google Scholar 

  9. Dalborg, C., Yv, F., Wincent, J.: Risk perception matters: why women’s passion may not lead to a business start-up. Int. J. Gend. Entrep. 7(1), 87–104 (2015)

    Article  Google Scholar 

  10. Ding, M., Yang, F., Wang, Y.: An analysis of entrepreneurial self-efficacy and its influence on entrepreneurial intention. Foreign Econ. Manage. 31(5), 1–7 (2009). (in Chinese)

    Google Scholar 

  11. Engel, Y., Kaandorp, M., Elfring, T.: Toward a dynamic process model of entrepreneurial networking under uncertainty. J. Bus. Ventur. 32(1), 35–51 (2017)

    Article  Google Scholar 

  12. FeldmanHall, O., et al.: What we say and what we do: the relationship between real and hypothetical moral choices. Cognition 123(3), 434–441 (2012). https://doi.org/10.1016/j.cognition.2012.02.001

    Article  Google Scholar 

  13. Forlani, D., Mullins, J.W.: Perceived risks and choices in entrepreneurs’ new venture decisions. J. Bus. Ventur. 15(4), 305–322 (2000)

    Article  Google Scholar 

  14. Gonzalez-Gadea, M.L., Ibanez, A., Sigman, M.: Schadenfreude is higher in real-life situations compared to hypothetical scenarios. PLoS ONE 13(10), 1–10 (2018)

    Article  Google Scholar 

  15. Hoang, G., et al.: Entrepreneurship education and entrepreneurial intentions of university students in Vietnam: the mediating roles of self-efficacy and learning orientation. Educ. Train. 63(1), 115–133 (2020)

    Google Scholar 

  16. Hoogendoorn, B., van der Zwan, P., Thurik, R.: Sustainable entrepreneurship: the role of perceived barriers and risk. J. Bus. Ethics 157(4), 1–22 (2017)

    Google Scholar 

  17. Jiao, H., et al.: When should organizational change be implemented? the moderating effect of environmental dynamism between dynamic capabilities and new venture performance. J. Eng. Technol. Manage. 30(2), 188–205 (2013)

    Article  Google Scholar 

  18. Jiao, H., Yang, D., Gao, M., Xie, P., Wu, Y.: Entrepreneurial ability and technological innovation: evidence from publicly listed companies in an emerging economy. Technol. Forecast. Soc. Chang. 112, 164–170 (2016)

    Article  Google Scholar 

  19. Karimi, S., et al.: The impact of entrepreneurship education: a study of iranian students’ entrepreneurial intentions and opportunity identification. J. Small Bus. Manage. 54(1), 187–209 (2014)

    Article  Google Scholar 

  20. Kickul, J., et al.: Intuition versus analysis? testing differential models of cognitive style on entrepreneurial self-efficacy and the new venture creation process. Entrep. Theory Pract. 33(2), 439–453 (2009). https://doi.org/10.1111/j.1540-6520.2009.00298.x

    Article  Google Scholar 

  21. Knight, F.H.: Risk, uncertainty and profit. University of Illinois at urbana-champaign’s academy for entrepreneurial leadership historical research reference in entrepreneurship (1921)

    Google Scholar 

  22. Knuth, D., et al.: Risk perception and emergency experience: comparing a representative German sample with German emergency survivors. J. Risk Res. 18(5–6), 581–601 (2015)

    Article  Google Scholar 

  23. Lin, F., Chen, Y.W.: Development and cross-cultural application of a specific instrument to measure entrepreneurial intentions. Entrepreneurship Theory Pract. 33(3), 593–617 (2010)

    Article  Google Scholar 

  24. Lucas, W., Cooper, S.: Measuring entrepreneurship self-efficacy. In: SMU Conference (2005)

    Google Scholar 

  25. Maitlo, Q., et al.: The role of entrepreneurial self-efficacy in resources acquisition in a new venture: the mediating role of effectuation. SAGE Open 10(4), 1–14 (2020)

    Article  Google Scholar 

  26. Man, S.S., Chan, A.H.S., Alabdulkarim, S.: Quantification of risk perception: development and validation of the construction worker risk perception (CoWoRP) scale. J. Saf. Res. 71, 25–39 (2019)

    Article  Google Scholar 

  27. Minglong, W.: Questionnaire statistical analysis practice-SPSS operation and application. Chongqing University Press (2010)

    Google Scholar 

  28. Ozaralli, N., Rivenburgh, N.K.: Entrepreneurial intention: antecedents to entrepreneurial behavior in the U.S.A. and Turkey. J. Glob. Entrep. Res. 6(1), 1–32 (2016). https://doi.org/10.1186/s40497-016-0047-x

    Article  Google Scholar 

  29. Palich, L.E., Bagby, D.R.: Using cognitive theory to explain entrepreneurial risk-taking: challenging conventional wisdom. Soc. Sci. Electron. Pub. 10(6), 425–438 (1995)

    Google Scholar 

  30. Pan, Y., Mao, N.: Filling the gap between entrepreneurial intention and action. JiangSu Higher Educ. 3, 86–91 (2020). (in Chinese)

    Google Scholar 

  31. Robinson, A.T., Marino, L.D.: Overconfidence and risk perceptions: do they really matter for venture creation decisions? Int. Entrepreneurship Manage. J. 11(1), 149–168 (2013). https://doi.org/10.1007/s11365-013-0277-0

    Article  Google Scholar 

  32. Sitkin, S.B., Pablo, A.L.: Reconceptualizing the determinants of risk behavior. Acad. Manag. Rev. 17(1), 9–38 (1992)

    Article  Google Scholar 

  33. Stroe, S., Parida, V., Wincent, J.: Effectuation or causation: an fsQCA analysis of entrepreneurial passion, risk perception, and self-efficacy. J. Bus. Res. 89, 265–272 (2018)

    Article  Google Scholar 

  34. Su, Y.: Propensity Score Matching Methods: Fundamentals and Applications. Chongqing University Press (2017)

    Google Scholar 

  35. Tang, M.: Research on the relationship between entrepreneurial self-efficacy and entrepreneurial intention. Master’s thesis, Central South University, Chengdu (2009). (In Chinese)

    Google Scholar 

  36. Williams, S., Voon, Y.W.W.: The effects of mood on managerial risk perceptions: exploring affect and the dimensions of risk. J. Soc. Psychol. 139(3), 268–287 (1999)

    Article  Google Scholar 

  37. Williams, S., Zainuba, M., Jackson, R.: Affective influences on risk perceptions and risk intention. J. Manag. Psychol. 18(2), 126–137 (2003)

    Article  Google Scholar 

  38. Wu, B., Knott, A.: Entrepreneurial risk and market entry. Manage. Sci. 52(9), 1315–1330 (2005). https://doi.org/10.1287/mnsc.1050.0543

    Article  Google Scholar 

  39. Zhang, J.: The problems of using social networks in entrepreneurial resource acquisition. Soc. Sci. Electron. Pub. 28(4), 338–361 (2010)

    Google Scholar 

  40. Zhang, P., Cain, K.W.: Reassessing the link between risk aversion and entrepreneurial intention. Int. J. Entrepreneurial Behav. Res. 23(5), 793–811 (2017)

    Article  Google Scholar 

  41. Zhao, W., Yang, T., Hughes, K.D., Li, Y.: Entrepreneurial alertness and business model innovation: the role of entrepreneurial learning and risk perception. Int. Entrepreneurship Manage. J. 17(2), 839–864 (2020). https://doi.org/10.1007/s11365-020-00637-2

    Article  Google Scholar 

Download references

Acknowledgements

This research was funded by the Soft Science Project of Chengdu Science and Technology Bureau, grant number 2020-RK00-00366-ZF.

Author information

Authors and Affiliations

  1. Business School, Sichuan University, Chengdu, 610064, People’s Republic of China

    Guichuan Zhou, Yahui He, Shuangyi Zheng & Liming Zhang

  2. Confucius Institute, Souphanouvong University, Luang Prabang, Laos

    Soudthida Hoongsengpha

Authors
  1. Guichuan Zhou
    View author publications

    You can also search for this author in PubMed Google Scholar

  2. Yahui He
    View author publications

    You can also search for this author in PubMed Google Scholar

  3. Shuangyi Zheng
    View author publications

    You can also search for this author in PubMed Google Scholar

  4. Soudthida Hoongsengpha
    View author publications

    You can also search for this author in PubMed Google Scholar

  5. Liming Zhang
    View author publications

    You can also search for this author in PubMed Google Scholar

Corresponding author

Correspondence to Liming Zhang .

Editor information

Editors and Affiliations

  1. Business School, Sichuan University, Chengdu, China

    Jiuping Xu

  2. University of Castilla-La Mancha (UCLM), Ciudad Real, Ciudad Real, Spain

    Fausto Pedro García Márquez

  3. World Academy of Sciences, Trieste, Italy

    Mohamed Hag Ali Hassan

  4. Academy of Sciences of Moldova, Chisinau, Moldova

    Gheorghe Duca

  5. Institute of Systems Control, Azerbaijan National Academy of Sciences, Baku, Azerbaijan

    Asaf Hajiyev

  6. Department of Industrial Engineering, Gazi University, Ankara, Turkey

    Fulya Altiparmak

Rights and permissions

Reprints and permissions

Copyright information

© 2021 The Author(s), under exclusive license to Springer Nature Switzerland AG

About this paper

Check for updates. Verify currency and authenticity via CrossMark

Cite this paper

Zhou, G., He, Y., Zheng, S., Hoongsengpha, S., Zhang, L. (2021). Risk Perception and Entrepreneurial Intention Under Emergency (COVID-19): An Empirical Study in China. In: Xu, J., García Márquez, F.P., Ali Hassan, M.H., Duca, G., Hajiyev, A., Altiparmak, F. (eds) Proceedings of the Fifteenth International Conference on Management Science and Engineering Management. ICMSEM 2021. Lecture Notes on Data Engineering and Communications Technologies, vol 79. Springer, Cham. https://doi.org/10.1007/978-3-030-79206-0_4

Download citation

Publish with us

Policies and ethics

Search

Navigation