The Relationship of Personality to Entrepreneurial Intentions and Performance: A Meta-Analytic Review

A set of meta-analyses were conducted to examine the relationship of personality to outcomes associated with two different stages of the entrepreneurial process: entrepreneurial intentions and entrepreneurial performance. A broad range of personality scales were categorized into a parsimonious set of constructs using the Five Factor model of personality. The results show that four of the Big Five personality dimensions were associated with both dependent variables, with agreeableness failing to be associated with either. Multivariate effect sizes were moderate for the full set of Big Five personality variables on entrepreneurial intentions (multiple R = .36) and entrepreneurial performance (multiple R = .31). Risk propensity, included as a separate dimension of personality, was positively associated with entrepreneurial intentions but was not related to entrepreneurial performance. These effects suggest that personality plays a role in the emergence and success of entrepreneurs.