The frugal entrepreneur: A self-regulatory perspective of resourceful entrepreneurial behavior |
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| Institution: | 1. Samuel and Pauline Glaubinger Professor of Entrepreneurship, Kelley School of Business, Indiana University, Bloomington, IN 47405, United States of America;2. Brown and Williamson Associate Professor of Entrepreneurship, College of Business, University of Louisville, Louisville, KY 40292, United States of America;3. Jack M. Gill Chair of Entrepreneurship, Kelley School of Business, Indiana University, Bloomington, IN 47405, United States of America;4. Ray and Milann Siegfried Professor of Entrepreneurship, Mendoza College of Business, University of Notre Dame, Notre Dame, IN 46556, United States of America;1. University of Oklahoma, 455 W. Lindsey DAHT 205, Norman, OK 73019, United States of America;2. Sykes College of Business, University of Tampa, 401 Kennedy Blvd, Tampa, FL 33606, United States of America;3. Martha and Spencer Love School of Business, Elon University;4. Tom Love Division of Entrepreneurship & Economic Development, OU Price College of Business, University of Oklahoma, 1003 Asp Ave., Norman, OK 73019, United States of America;1. Case Western Reserve University, United States of America;2. University of Oklahoma, 1003 Asp Ave, 3050J, Norman, OK 73019, United States of America;3. Northwestern University, United States of America |
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| Abstract: | The present research complements extant perspectives of resourcefulness, which assert that resourceful behaviors arise out of responses to environmental constraints, by developing a model illustrating that entrepreneurs self-impose constraints on resource acquisition and deployment for differing reasons. Specifically, we introduce a novel conceptualization of frugality and differentiate it from self-control to develop a set of hypotheses that frugality predicts resource use behaviors based on long-held preferences (e.g., effectuation and bricolage) and self-control predicts resource use behaviors based on known end states or goals (e.g., causation and pre-commitments). After accumulating evidence of reliability and validity for a new measure of frugality contextualized for entrepreneurship research, the results support our self-regulatory theoretical framework. Our study contributes to research on resourcefulness by making multiple theoretical insights, and we outline numerous future research opportunities for applying the construct of frugality to explain entrepreneurial behavior. |
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| Keywords: | Resourcefulness Self-regulation Frugality Self-control Construct validation |
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