Entrepreneurial Traits and Strategy in the Performance of Owner-manager Led Firms: A Meta-analysis
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Although previous research has contributed to our knowledge by examining various entrepreneurial personality traits that directly influence a firm’s performance, there is a lack of clarity on the mediating role of a firm’s strategic orientation and strategy in this relationship. Our meta-analysis is based on 56 studies encompassing 12,286 owner-manager led firms. We test the sequential mediating path from entrepreneurial traits to firm performance via a firm’s entrepreneurial orientation and innovation strategy using meta-analytic structural equation modeling. Our results show that owner-manager’s entrepreneurial traits are reflected in different stages of a firm’s strategy process and in this way influence firm performance. We discuss implications and provide limitations and directions for future research.