Motivation by role models: Do they inspire or discourage us? Investigating the link between role models and entrepreneurial career intentions

Abstract

While prior research has suggested links between role models and individuals' entrepreneurial career intentions (ECIs), there is a scarcity of empirical research on the impact of entrepreneurial role models (ERMs) (i.e., positive vs negative) on employees' ECIs in small and medium-sized enterprises (SMEs). To address this gap, our study draws on social learning theory (SLT) and conducts two experimental studies to examine the impact of role models in the workplace. We collected data from 216 students in Eastern China to analyse the effects of positive role models, and 198 for negative role models. Our findings demonstrate that successful role models have a significant impact on employees' ECIs. Additionally, the fear of failure (FOF) plays a substantial role in diminishing employees' ECIs. We also find that negative role models significantly impact employees' ECIs and should not be ignored while considering the importance of attaining an entrepreneurial career. Our study contributes to the literature by shedding light on the importance of ERMs in shaping employees' ECIs and highlights the role of fear of failure in this process. Finally, the study offers implications for both theory and practice.