Entrepreneurial Engagement and Growth Aspirations: The Moderating Role of Opportunity Perception

Abstract

There is an increasing interest in the antecedents of entrepreneurial growth aspirations, since they have been shown to be important for firm growth. This paper examines the direct impact of entrepreneurial engagement on growth aspirations and the moderating role of opportunity perception. We argue that growth aspirations will be lower for those entrepreneurs in an advanced level of engagement but we also suggest that their perception of good opportunities in the immediate environment will positively moderate this relationship. Using data from the Colombian GEM project over the period 2012-2016, we find support for our predictions. Implications from the findings are discussed.