How Does the Entrepreneurs’ Financial, Human, Social and Psychological Capitals Impact Entrepreneur’S Success?

Ashraf Elsafty, Dalia Abadir, Ashraf Shaarawy


The literature has widely covered the factors that determine the success of entrepreneurial ventures from financial and organizational perspectives. This study intends to tackle how the Financial Capital, the Human Capital, the Social Capital, and the Psychological Capital of the Entrepreneur affect Entrepreneurial Success. Despite that the Financial, Human, and Social Capitals are extensively examined in the literature as they relate to entrepreneurial success, this paper will add the psychological capital of the entrepreneur and examine its effect on entrepreneurial success in Egypt.

This study aimed to investigate the effect of Financial Capital, Human Capital, Social Capital, and Psychological Capital on Entrepreneurial Success using a cross-sectional survey. Respondents were the owners and founders of small and medium enterprises (SMEs) in Cairo, Egypt. The results revealed that Social Capital and Psychological capital had a statistical significance as well as a positive strong relationship with Entrepreneurial success, while the Financial Capital and the Human Capital had statistical insignificance as well as a positive weak to a very weak relationship with Entrepreneurial success respectively.

The study findings suggested that entrepreneurial success is strongly connected to the intangible resources of the entrepreneur, which are Social Capital and Psychological Capital, and that the Psychological Capital had the highest impact on Entrepreneurial success. However, the impact of the Financial Capital and Human Capital on Entrepreneurial Success was statistically insignificant.

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Business and Management Studies     ISSN 2374-5916 (Print)     ISSN 2374-5924 (Online)

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