Fostering Women Entrepreneurs: Psychological Capital, Psychological Empowerment and Entrepreneurial Spirit
Article Sidebar
Published
Jan 16, 2024
Main Article Content
Abstract
Psychological capital is a central notion that has emerged in entrepreneurial behavior. This study looks at how psychological empowerment plays a mediating role in the relationship between psychological capital (PsyCap) and women's entrepreneurial spirit. Data were collected from 203 women-owned manufacturing industries. Through the Smart PLS software, the hypothesis is tested using partial least squares structural equation modeling (PLS-SEM), which uses algorithms and bootstrapping to measure the association. Data analysis concluded that PsyCap has a significant positive relationship with entrepreneurial spirit and psychological empowerment. The association between psychological empowerment and entrepreneurial spirit is also significant and positive. Correspondingly, mediation of psychological empowerment exists between PsyCap and psychological empowerment. In a precise form, PsyCap and psychological empowerment can develop entrepreneurial spirits.
Article Details
Section
Articles
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
Once the manuscript is accepted for publication, authors shall transfer the copyright to the publisher. If the submitted manuscript is not accepted for printing by the journal, the authors shall retain all their rights. The following rights on the manuscript are transferred to the publisher, including any supplementary materials and any parts, extracts or elements of the manuscript:
- the right to reproduce and distribute the manuscript in printed form, including print-on-demand;
- the right to print prepublications, reprints and special editions of the manuscript;
- the right to translate the manuscript into other languages;
- the right to reproduce the manuscript using photomechanical or similar means including, but not limited to photocopy, and the right to distribute these copies;
- the right to reproduce and distribute the manuscript electronically or optically using and all data carriers or storage media, and especially in machine readable/digitalized form on data carriers such as hard drive, CD-ROM, DVD, Blu-ray Disc (BD), Mini Disc, data tapes, and the right to reproduce and distribute the article via these data carriers;
- the right to store the manuscript in databases, including online databases, as well as the right to transmit the manuscript in all technical systems and modes;
- the right to make the manuscript available to the public or to closed user groups on individual demand, for use on monitors or other readers (including e-books), and in printable form for the user, either via the Internet, online service, or via internal or external networks.
Authors reserve the copyright to published articles and have the right to use the article in the same manner like third parties in accordance with the licence Attribution-Non-Commercial-Non-Derivate 4.0 International (CC BY NC ND). Thereby they must quote the basic bibliographic data of the source article published in the journal (authors, article title, journal title, volume, pagination).
References
[1] Alambaigi, A., Jalilian, S., & Latifi, S. (2018). Effect of entrepreneurship characteristics on rural youths' attitude and intention toward self-employment (case study villages of West Islamabad County). Iranian Journal of Agricultural Economics and Development Research (IJAEDR), 48(4), 681-691.
[2] Avey, J. B., Luthans, F., Smith, R. M., & Palmer, N. F. (2010). Impact of positive psychological capital on employee well-being over time. Journal of occupational health psychology, 15(1), 17.
[3] Bhandari, P., & Amponstira, F. (2020). Effect of Entrepreneurial Orientation on Profitability of Women Owned Enterprises in Pokhara City, Nepal. International Business Research, 13(10), 1-66.
[4] Bhandari, P., & Amponstira, F. (2021). Model of entrepreneurial orientation, competitive advantage and performance of women-owned enterprises in Gandaki Province, Nepal. Open Journal of Business and Management, 9(6), 2854-2865.
[5] Bhandari, P., Sigdel, B., Rungsuk, A., Chumlim, M., & Phiewla-or, A. (2022). Survival of the Women Entrepreneurs During Pandemic: The Mediating Role of Competitive Advantage on Entrepreneurial Orientation and Firm Performance in Nepal. The Journal of Pacific Institute of Management Science (Humanities and Social Science), 8(2), 223-235.
[6] Bhandari, P., Sigdel, B., Photchanachan, S., Uppapong, K., & Bhattarai, A. (2023). Revamp of Tourism Industry in Nepal. JWEE, (1-2), 89-109. Journal of Women's Entrepreneurship and Education, (1-2), 89-109.
[7] Chakraborty, U., & Biswal, S. K. (2023). Impact of social media participation on female entrepreneurs towards their digital entrepreneurship intention and psychological empowerment. Journal of Research in Marketing and Entrepreneurship, 25(3), 374-392.
[8] Cohen, J. (2013). Statistical power analysis for the behavioral sciences. 2nd. New York: Routledge.
[9] Dhaubhadel, I. (2021). The mediating role of psychological capital (PsyCap) on the relationship between human resource development (HRD) climate and employee performance: A study in Nepali developmental organizations. South Asian Journal of Management, 28(1), 25-58.
[10] Dwibedi, L. (2015). Women entrepreneurship and innovations: A critical analysis. Academic Voices: A Multidisciplinary Journal, 5, 16-21.
[11] Gautam, D. K., & Bhandari Ghimire, S. (2017). Psychological empowerment of employees for competitive advantages: An empirical study of Nepalese service sector. International Journal of Law and Management, 59(4), 466-488.
[12] Government of Nepal. (2019). National Economic Census 2018. Kathmandu: Central Bureau of Statistics, 77.
[13] Van Griethuijsen, R. A., van Eijck, M. W., Haste, H., Den Brok, P. J., Skinner, N. C., Mansour, N., ... & BouJaoude, S. (2015). Global patterns in students’ views of science and interest in science. Research in science education, 45, 581-603.
[14] Hair Jr, J. F., Hult, G. T. M., Ringle, C. M., Sarstedt, M., Danks, N. P., & Ray, S. (2021). Partial least squares structural equation modeling (PLS-SEM) using R: A workbook. Springer Nature.
[15] Haji, L., Valizadeh, N., & Karimi, H. (2022). The effects of psychological capital and empowerment on entrepreneurial spirit: The case of Naghadeh County, Iran. International Journal of Finance & Economics, 27(1), 290-300.
[16] Hibbs, L. (2022, January). “I could do that!”–The role of a women's non-governmental organisation in increasing women's psychological empowerment and civic participation in Wales. In Women's Studies International Forum (Vol. 90, p. 102557). Pergamon.
[17] Hsieh, S. H., Lee, C. T., & Tseng, T. H. (2022). Psychological empowerment and user satisfaction: Investigating the influences of online brand community participation. Information & Management, 59(1), 103570.
[18] Iqbal, K., & Ahmad, M. H. (2017). Effect of psychological capital on organizational commitment: Mediating role of psychological empowerment. Abasyn Journal of Social Sciences, 72-87.
[19] Kang, H., & Ahn, J. W. (2021). Model setting and interpretation of results in research using structural equation modeling: A checklist with guiding questions for reporting. Asian Nursing Research, 15(3), 157-162.
[20] Kariri, H. D. H., & Radwan, O. A. (2023). The Influence of Psychological Capital on Individual’s Social Responsibility through the Pivotal Role of Psychological Empowerment: A Study Towards a Sustainable Workplace Environment. Sustainability, 15(3), 2720.
[21] Khoo, C., Yang, E. C. L., Tan, R. Y. Y., Alonso-Vazquez, M., Ricaurte-Quijano, C., Pécot, M., & Barahona-Canales, D. (2023). Opportunities and challenges of digital competencies for women tourism entrepreneurs in Latin America: a gendered perspective. Journal of Sustainable Tourism, 1-21.
[22] Kiziloglu, M., Dluhopolskyi, O., Laskowski, J., & Laskowska, A. (2023). Creating Agile Institutions with Organizational Trust in the Finance Sector of Turkey: The Mediating Role of Psychological Empowerment in Times of COVID-19. Sustainability, 15(4), 3019.
[23] Liao, S. S., Hu, D. C., Chung, Y. C., & Chen, L. W. (2017). LMX and employee satisfaction: mediating effect of psychological capital. Leadership & Organization Development Journal, 38(3), 433-449.
[24] Lizar, A. A., Mangundjaya, W. L., & Rachmawan, A. (2015). The role of psychological capital and psychological empowerment on individual readiness for change. The Journal of Developing Areas, 49(5), 343-352.
[25] Luthans, F., Youssef, C. M., & Avolio, B. J. (2006). Psychological Capital: Developing the Human Competitive Edge. Oxford University Press.
[26] Ma, E., Zhang, Y., Xu, F. Z., Wang, D., & Kim, M. S. (2021). Feeling empowered and doing good? A psychological mechanism of empowerment, self-esteem, perceived trust, and OCBs. Tourism Management, 87, 104356.
[27] Manandhar, R. B. (2022). Emerging Challenges of Women Entrepreneurs in Nepal. Nepal Journal of Multidisciplinary Research, 5(4), 11-18.
[28] Margaça, C., Hernández-Sánchez, B., Sánchez-García, J. C., & Cardella, G. M. (2021). The roles of psychological capital and gender in university students’ entrepreneurial intentions. Frontiers in psychology, 11, 615910.
[29] Martínez, I. M., Youssef-Morgan, C. M., Chambel, M. J., & Marques-Pinto, A. (2019). Antecedents of academic performance of university students: Academic engagement and psychological capital resources. Educational Psychology, 39(8), 1047-1067.
[30] Muduli, A. (2017). Workforce agility: Examining the role of organizational practices and psychological empowerment. Global Business and Organizational Excellence, 36(5), 46-56.
[31] Nepal Government. (2020). Industrial Policy 2016. Retrieved April 24, 2022, from https://moics.gov.np/en/sources/2/
[32] Pacheco, P. O., & Coello-Montecel, D. (2023). Does psychological empowerment mediate the relationship between digital competencies and job performance?. Computers in Human Behavior, 140, 107575.
[33] Ravic, N., & Nikitovic, Z. (2016). Entrepreneurial education as a new paradigm of the development of women entrepreneurship in the Republic of Serbia. Journal of Women's Entrepreneurship and Education, (3-4), 102-116.
[34] Safarabadi, A., Moayedfar, S., & Varesi, H. (2015). Urban sustainable development with emphasis on the empowerment of informal settlements in urban areas: the case of Yazd, Iran. European Journal of Geography, 6(1), 83-97.
[35] Şahin, D. R., Çubuk, D., & Uslu, T. (2014). The effect of organizational support, transformational leadership, personnel empowerment, work engagement, performance and demographical variables on the factors of psychological capital. EMAJ: Emerging Markets Journal, 3(3), 1-17.
[36] Sajid, M., Ansari, D. A., & Siddiqui, M. N. (2016). Women entrepreneurship: the dynamic need of modern India. An International Journal of Research & Innovation, 3(2), 27-31.
[37] Spreitzer, G. M. (1995). Psychological empowerment in the workplace: Dimensions, measurement, and validation. Academy of management Journal, 38(5), 1442-1465.
[38] Thakur, E., Vashista, G., & Shourie, S. (2022). Linking Psychological Empowerment, Self-leadership and Psychological Capital among Young Entrepreneurs: Role of Positive Psychology in Building a Self-reliant India. Indian Journal of Positive Psychology, 13(2), 129-136.
[39] Tripopsakul, S., Mokkhamakkul, T., & Puriwat, W. (2022). The development of the entrepreneurial spirit index: An application of the entrepreneurial cognition approach. Emerging Science Journal, 6(3), 493-504.
[40] Tuladhar, J. (1996). Factors affecting Women Entrepreneurship in small and cottage industries in Nepal. ILO.
[41] Wardani, L. M. I., & Amaliah, A. (2020). The role of psychological empowerment as mediator between psychological capital and employee well-being. Journal of Critical Reviews, 7(13), 291-296.
[42] Wiyono, B. B., & Wu, H. H. (2022). Investigating the Structural Effect of Achievement Motivation and Achievement on Leadership and Entrepreneurial Spirit of Students in Higher Education. Administrative Sciences, 12(3), 99.
[43] Xu, J. (2023). The interplay between Chinese EFL teachers’ positive psychological capital and their work engagement. Heliyon, 9(2), e13151.
[44] Youssef, C. M., & Luthans, F. (2007). Positive organizational behavior in the workplace: The impact of hope, optimism, and resilience. Journal of management, 33(5), 774-800.
[2] Avey, J. B., Luthans, F., Smith, R. M., & Palmer, N. F. (2010). Impact of positive psychological capital on employee well-being over time. Journal of occupational health psychology, 15(1), 17.
[3] Bhandari, P., & Amponstira, F. (2020). Effect of Entrepreneurial Orientation on Profitability of Women Owned Enterprises in Pokhara City, Nepal. International Business Research, 13(10), 1-66.
[4] Bhandari, P., & Amponstira, F. (2021). Model of entrepreneurial orientation, competitive advantage and performance of women-owned enterprises in Gandaki Province, Nepal. Open Journal of Business and Management, 9(6), 2854-2865.
[5] Bhandari, P., Sigdel, B., Rungsuk, A., Chumlim, M., & Phiewla-or, A. (2022). Survival of the Women Entrepreneurs During Pandemic: The Mediating Role of Competitive Advantage on Entrepreneurial Orientation and Firm Performance in Nepal. The Journal of Pacific Institute of Management Science (Humanities and Social Science), 8(2), 223-235.
[6] Bhandari, P., Sigdel, B., Photchanachan, S., Uppapong, K., & Bhattarai, A. (2023). Revamp of Tourism Industry in Nepal. JWEE, (1-2), 89-109. Journal of Women's Entrepreneurship and Education, (1-2), 89-109.
[7] Chakraborty, U., & Biswal, S. K. (2023). Impact of social media participation on female entrepreneurs towards their digital entrepreneurship intention and psychological empowerment. Journal of Research in Marketing and Entrepreneurship, 25(3), 374-392.
[8] Cohen, J. (2013). Statistical power analysis for the behavioral sciences. 2nd. New York: Routledge.
[9] Dhaubhadel, I. (2021). The mediating role of psychological capital (PsyCap) on the relationship between human resource development (HRD) climate and employee performance: A study in Nepali developmental organizations. South Asian Journal of Management, 28(1), 25-58.
[10] Dwibedi, L. (2015). Women entrepreneurship and innovations: A critical analysis. Academic Voices: A Multidisciplinary Journal, 5, 16-21.
[11] Gautam, D. K., & Bhandari Ghimire, S. (2017). Psychological empowerment of employees for competitive advantages: An empirical study of Nepalese service sector. International Journal of Law and Management, 59(4), 466-488.
[12] Government of Nepal. (2019). National Economic Census 2018. Kathmandu: Central Bureau of Statistics, 77.
[13] Van Griethuijsen, R. A., van Eijck, M. W., Haste, H., Den Brok, P. J., Skinner, N. C., Mansour, N., ... & BouJaoude, S. (2015). Global patterns in students’ views of science and interest in science. Research in science education, 45, 581-603.
[14] Hair Jr, J. F., Hult, G. T. M., Ringle, C. M., Sarstedt, M., Danks, N. P., & Ray, S. (2021). Partial least squares structural equation modeling (PLS-SEM) using R: A workbook. Springer Nature.
[15] Haji, L., Valizadeh, N., & Karimi, H. (2022). The effects of psychological capital and empowerment on entrepreneurial spirit: The case of Naghadeh County, Iran. International Journal of Finance & Economics, 27(1), 290-300.
[16] Hibbs, L. (2022, January). “I could do that!”–The role of a women's non-governmental organisation in increasing women's psychological empowerment and civic participation in Wales. In Women's Studies International Forum (Vol. 90, p. 102557). Pergamon.
[17] Hsieh, S. H., Lee, C. T., & Tseng, T. H. (2022). Psychological empowerment and user satisfaction: Investigating the influences of online brand community participation. Information & Management, 59(1), 103570.
[18] Iqbal, K., & Ahmad, M. H. (2017). Effect of psychological capital on organizational commitment: Mediating role of psychological empowerment. Abasyn Journal of Social Sciences, 72-87.
[19] Kang, H., & Ahn, J. W. (2021). Model setting and interpretation of results in research using structural equation modeling: A checklist with guiding questions for reporting. Asian Nursing Research, 15(3), 157-162.
[20] Kariri, H. D. H., & Radwan, O. A. (2023). The Influence of Psychological Capital on Individual’s Social Responsibility through the Pivotal Role of Psychological Empowerment: A Study Towards a Sustainable Workplace Environment. Sustainability, 15(3), 2720.
[21] Khoo, C., Yang, E. C. L., Tan, R. Y. Y., Alonso-Vazquez, M., Ricaurte-Quijano, C., Pécot, M., & Barahona-Canales, D. (2023). Opportunities and challenges of digital competencies for women tourism entrepreneurs in Latin America: a gendered perspective. Journal of Sustainable Tourism, 1-21.
[22] Kiziloglu, M., Dluhopolskyi, O., Laskowski, J., & Laskowska, A. (2023). Creating Agile Institutions with Organizational Trust in the Finance Sector of Turkey: The Mediating Role of Psychological Empowerment in Times of COVID-19. Sustainability, 15(4), 3019.
[23] Liao, S. S., Hu, D. C., Chung, Y. C., & Chen, L. W. (2017). LMX and employee satisfaction: mediating effect of psychological capital. Leadership & Organization Development Journal, 38(3), 433-449.
[24] Lizar, A. A., Mangundjaya, W. L., & Rachmawan, A. (2015). The role of psychological capital and psychological empowerment on individual readiness for change. The Journal of Developing Areas, 49(5), 343-352.
[25] Luthans, F., Youssef, C. M., & Avolio, B. J. (2006). Psychological Capital: Developing the Human Competitive Edge. Oxford University Press.
[26] Ma, E., Zhang, Y., Xu, F. Z., Wang, D., & Kim, M. S. (2021). Feeling empowered and doing good? A psychological mechanism of empowerment, self-esteem, perceived trust, and OCBs. Tourism Management, 87, 104356.
[27] Manandhar, R. B. (2022). Emerging Challenges of Women Entrepreneurs in Nepal. Nepal Journal of Multidisciplinary Research, 5(4), 11-18.
[28] Margaça, C., Hernández-Sánchez, B., Sánchez-García, J. C., & Cardella, G. M. (2021). The roles of psychological capital and gender in university students’ entrepreneurial intentions. Frontiers in psychology, 11, 615910.
[29] Martínez, I. M., Youssef-Morgan, C. M., Chambel, M. J., & Marques-Pinto, A. (2019). Antecedents of academic performance of university students: Academic engagement and psychological capital resources. Educational Psychology, 39(8), 1047-1067.
[30] Muduli, A. (2017). Workforce agility: Examining the role of organizational practices and psychological empowerment. Global Business and Organizational Excellence, 36(5), 46-56.
[31] Nepal Government. (2020). Industrial Policy 2016. Retrieved April 24, 2022, from https://moics.gov.np/en/sources/2/
[32] Pacheco, P. O., & Coello-Montecel, D. (2023). Does psychological empowerment mediate the relationship between digital competencies and job performance?. Computers in Human Behavior, 140, 107575.
[33] Ravic, N., & Nikitovic, Z. (2016). Entrepreneurial education as a new paradigm of the development of women entrepreneurship in the Republic of Serbia. Journal of Women's Entrepreneurship and Education, (3-4), 102-116.
[34] Safarabadi, A., Moayedfar, S., & Varesi, H. (2015). Urban sustainable development with emphasis on the empowerment of informal settlements in urban areas: the case of Yazd, Iran. European Journal of Geography, 6(1), 83-97.
[35] Şahin, D. R., Çubuk, D., & Uslu, T. (2014). The effect of organizational support, transformational leadership, personnel empowerment, work engagement, performance and demographical variables on the factors of psychological capital. EMAJ: Emerging Markets Journal, 3(3), 1-17.
[36] Sajid, M., Ansari, D. A., & Siddiqui, M. N. (2016). Women entrepreneurship: the dynamic need of modern India. An International Journal of Research & Innovation, 3(2), 27-31.
[37] Spreitzer, G. M. (1995). Psychological empowerment in the workplace: Dimensions, measurement, and validation. Academy of management Journal, 38(5), 1442-1465.
[38] Thakur, E., Vashista, G., & Shourie, S. (2022). Linking Psychological Empowerment, Self-leadership and Psychological Capital among Young Entrepreneurs: Role of Positive Psychology in Building a Self-reliant India. Indian Journal of Positive Psychology, 13(2), 129-136.
[39] Tripopsakul, S., Mokkhamakkul, T., & Puriwat, W. (2022). The development of the entrepreneurial spirit index: An application of the entrepreneurial cognition approach. Emerging Science Journal, 6(3), 493-504.
[40] Tuladhar, J. (1996). Factors affecting Women Entrepreneurship in small and cottage industries in Nepal. ILO.
[41] Wardani, L. M. I., & Amaliah, A. (2020). The role of psychological empowerment as mediator between psychological capital and employee well-being. Journal of Critical Reviews, 7(13), 291-296.
[42] Wiyono, B. B., & Wu, H. H. (2022). Investigating the Structural Effect of Achievement Motivation and Achievement on Leadership and Entrepreneurial Spirit of Students in Higher Education. Administrative Sciences, 12(3), 99.
[43] Xu, J. (2023). The interplay between Chinese EFL teachers’ positive psychological capital and their work engagement. Heliyon, 9(2), e13151.
[44] Youssef, C. M., & Luthans, F. (2007). Positive organizational behavior in the workplace: The impact of hope, optimism, and resilience. Journal of management, 33(5), 774-800.