Psychological capital and perceived environmental uncertainty: influence on growth aspiration and quality of life of nascent entrepreneurs

Purpose: This paper investigates the influence of Psychological Capital (PsyCap) on the Growth Aspiration (GAsp) and Quality of Life (QoL) of nascent entrepreneurs. We expand existing research by testing a conceptual model that examines how PsyCap shapes GAsp and the realisation of these aspirations through QoL, within the context of Perceived Environmental Uncertainty (PEU) and its three dimensions. Design/methodology/approach: We used multiple regression analysis on data from 264 active nascent entrepreneurs. Findings: Results show PsyCap is significantly and positively linked to QoL. PEU also demonstrates a significant positive association with both GAsp and QoL. Of the three PEU dimensions, operational uncertainty’s effect on GAsp is positively moderated by PsyCap. Perceived uncertainty appears to encourage nascent entrepreneurship. As a personal resource, PsyCap helps entrepreneurs overcome self-limitations and adapt to environmental change. These findings deepen understanding of the personal and contextual factors shaping nascent entrepreneurs’ aspirations. Originality: This study advances the entrepreneurial behaviour literature by drawing on Conservation of Resources (COR) theory to explain the significance of PEU and PsyCap for entrepreneurial aspirations in the context of transition economies.