Effects of positive psychological capital on entrepreneurial success: A systematic review

Abstract

Purpose: Psychological resources are key to entrepreneurial performance. Psychological capital is one of the pillars of entrepreneurial success, which has prompted the study of its relationship to entrepreneurial performance. The aim of this study is to contribute to the understanding of the relationship between positive psychological capital and the success of entrepreneurs.

Design/methodology: This systematic review used the PRISMA protocol and Review Manager 5.3 software. The articles collected for this research cover the annual period from November 2008 to January 2025 and allow us to identify and analyse the main topics on psychological capital and success in entrepreneurship.

Findings: In the systematic review, we identified 9 indicators of success (innovation, subjective performance, growth, revenue, survival, employment generation, retention, organizational change and life satisfaction). Of the 35 articles reviewed, the results indicate that the PsyCap components (resilience, optimism, self-efficacy, and hope) have a positive impact on entrepreneurial success. Resilience is key to subjective performance, growth and revenue. Optimism supports organizational change, performance and growth. Self-efficacy influences innovation, survival and job creation, while hope affects life satisfaction, income and employee retention.

Originality/value: This article is original in that it presents the first systematic review linking PsyCap to entrepreneurial success. Although there are previous reviews linking PsyCap to entrepreneurial intention, none have explored its direct connection to success. To understand this concept, we have identified nine key success variables mentioned in the entrepreneurship literature. These variables highlight the importance of certain psychological resources in achieving different indicators of success. This research highlights the relevance of developing these areas, providing scientific evidence of the relationships between them. In this way, it contributes to a more robust understanding of the impact of positive psychological capital on entrepreneurial success and establishes a starting point for future studies on the synergies between the two fields.