The role of Personal Values in Economic Attitudes of entrepreneurs and non-entrepreneurs

Abstract

There are few studies comparing the personal values of entrepreneurs and non-entrepreneurs, as well as their economic attitudes. In order to fill this gap, we studied the personal values and economic attitudes among small and medium-scale business entrepreneurs. The Shalom Schwartz's Portrait Values Questionnaire (PVQ-21) and the economic attitudes questionnaire were applied. Among the entrepreneurs the age of a respondent was found to negatively correlate with the attitude towards competition. In the group of entrepreneurs, the only relationship between the personal values and economic attitudes was found for Conservation values and attitudes towards independence and competition. For non-entrepreneurs, the relationship was found between the values of Self-Transcendence, Conservation and economic attitudes towards independence and justice. The mean values of interest were found to be significantly higher in the group of entrepreneurs compared to the non-entrepreneurs. The only exception was the attitude towards competition.