Why I persist while others leave? Investigating the path from passion to persistence in entrepreneurship

Although research affirms that entrepreneurial passion (EP) is an important predictor of entrepreneurial persistence, much less is known of the underlying processes through which EP leads to entrepreneurial persistence. Drawing upon the broaden-and-build theory of positive emotions, this study uncovers the mediating effects of entrepreneurial self-efficacy (ESE) and the moderating role of proactive personality between the relationship of EP and entrepreneurial persistence. The results of survey data from 215 small firms in China demonstrate that ESE mediates the link between EP and entrepreneurial persistence. The proactive personality of an entrepreneur also strengthens the direct relationship between EP and ESE and the indirect relationship between EP and entrepreneurial persistence via ESE. The findings contribute to the literature on entrepreneurs’ proactive personalities, ESE and entrepreneurial persistence.