Beyond subjective norms and passion: The interplay of self-efficacy,intention,psychological capital,and firms performance in shaping entrepreneurial persistence behavior

Abstract

This study explores how subjective norms and entrepreneurial passion influence business performance in the tourism and hospitality sectors using the Theory of Planned Behavior (TPB). Data were collected using convenience sampling from 320 managers and entrepreneurs through a survey, and structural equation modeling (SEM) via WarpPLS was employed to analyze the relationships between constructs. The findings reveal that subjective norms and entrepreneurial passion enhance self-efficacy, which in turn strengthens intention. Intention drives persistence behavior, which positively impacts firm performance. Persistence behavior also mediates the relationship between intention and firm performance. Additionally, psychological capital boosts self-efficacy and intention, while perceived barriers hinder intention and persistence behavior. This study provides a validated model of persistence behavior, psychological capital, and perceived barriers, offering insights into the role of entrepreneurs in economic development. These findings are particularly relevant for policymakers in developing nations to address challenges and foster growth.