Entrepreneurial resilience in turbulent environments: the role of spiritual capital

dc.cclicenceCC-BY-NCen
dc.contributor.authorKolade, Oluwaseun
dc.contributor.authorEgbetokun, Abiodun
dc.contributor.authorRae, David
dc.contributor.authorHussain, Javed
dc.date.acceptance2019-05-29
dc.date.accessioned2019-05-30T10:55:31Z
dc.date.available2019-05-30T10:55:31Z
dc.date.issued2019
dc.descriptionThe project was funded by the BAL Faculty Seed Corn 2018/2019.en
dc.description.abstractIncreasingly, businesses in the 21st century have to grapple with the challenges of operating in turbulent environments characterised by market volatility, political instability, and terrorism. These challenges are relevant to developing countries, where institutional weaknesses exacerbate environmental turbulence; and developed countries, where, for example in the UK, businesses are grappling with the uncertainties of BREXIT. In order to survive and compete, firms mobilise external resources and develop new strategies. For instance, scholars have observed that social capital in the form of cooperative alliances enables rival firms to combine resources, share costs, achieve economies of scale, and mitigate risk and uncertainty in innovation. Recently, a new interest has emerged in the role of spiritual capital—that is, the set of personal, intangible, and transcendent resources that emanate from an individual's spiritual or religious beliefs and experiences and may be used in economic activity. Spiritual capital is especially relevant in developing countries including those in sub-Saharan Africa where there are greater institutional voids, and religion and spirituality play a dominant role in society. While recent studies have drawn attention to the impact of spiritual capital on firm level innovation and performance as well as corporate governance practices, this paper proposes a conceptual framework that interrogates and integrates the relationships between spiritual capital, environmental turbulence, entrepreneurial resilience and firm survival. Finally, we test this theoretical model in an empirical study of 306 randomly selected SMEs in Nigeria, one of Africa’s largest economies and an archetypical context for addressing key questions of resilience and environmental turbulence. The results of the hierarchical regression model indicate that faith beliefs have significant impact on entrepreneurial resilience, but prayer and worship do not.en
dc.funderNo external funderen
dc.identifier.citationKolade O., Egbetokun A., Rae, D., and Hussain G. (2019) Entrepreneurial resilience in turbulent environment: the role of spiritual capital. In: Research Handbook on Entrepreneurship in Emerging Economies: a Contextualised Approach. Publisher: Edward Elgar Publishingen
dc.identifier.urihttps://www.dora.dmu.ac.uk/handle/2086/17893
dc.language.isoenen
dc.peerreviewedYesen
dc.projectidN/Aen
dc.publisherEdward Elgar Publishingen
dc.researchinstituteCentre for Enterprise and Innovation (CEI)en
dc.researchinstituteInstitute for Applied Economics and Social Value (IAESV)en
dc.subjectSpiritual capitalen
dc.subjectTurbulenceen
dc.subjectInstitutional voidsen
dc.subjectEntrepreneurial resilienceen
dc.subjectSocial capitalen
dc.titleEntrepreneurial resilience in turbulent environments: the role of spiritual capitalen
dc.typeBook chapteren

Files

Original bundle
Now showing 1 - 1 of 1
No Thumbnail Available
Name:
Kolade et al 2019 book chapter on spiritual capital .pdf
Size:
312.76 KB
Format:
Adobe Portable Document Format
Description:
Book Chapter
License bundle
Now showing 1 - 1 of 1
No Thumbnail Available
Name:
license.txt
Size:
4.2 KB
Format:
Item-specific license agreed upon to submission
Description: