DETERMINANTS OF ENTREPRENEURIAL SUCCESS: AN INTEGRATIVE ANALYSIS OF INDIVIDUAL AND ENVIRONMENTAL FACTORS

Abstract

This study investigates the multifaceted determinants of entrepreneurial success by integrating individual-level traits and environmental influences into a comprehensive framework. Drawing upon trait theory, social cognitive theory, and ecological models, we examine how personal attributes (e.g., self-efficacy, risk tolerance, innovativeness) interact with external conditions (e.g., market dynamism, institutional support, social networks) to shape venture performance. Utilizing a cross-sectional survey of 350 early-stage entrepreneurs across diverse industries, we employ structural equation modeling to test hypothesized relationships. Results indicate that individual self-efficacy and risk tolerance exert strong direct effects on entrepreneurial performance, while environmental supports moderate these effects, amplifying positive outcomes under favorable conditions. Additionally, innovativeness mediates the link between self-efficacy and venture performance. The integrative model accounts for 62% of the variance in entrepreneurial success, underscoring the necessity of considering both personal and contextual factors. The findings offer theoretical contributions by bridging micro- and macro-level perspectives and provide practical implications for policymakers and support organizations seeking to foster entrepreneurship through tailored interventions.