Title: The value of the psychological capital of immigrant entrepreneurs

Authors: Fred Luthans, Steven M. Norman, Susan M. Jensen

Addresses: Department of Management, College of Business Administration, University of Nebraska, Lincoln, NE 68588-0491, USA. ' Department of Business – Management, Mesa State College, Grand Junction, Co 81501, USA. ' Department of Management, University of Nebraska, Kearney, NE 68849, USA

Abstract: Immigrant entrepreneurs have always played a critical role in the economies of countries around the world. Although considerable attention has been devoted to the importance of economic and financial capital, we examine three overlooked forms of capital that may enhance the success of immigrant entrepreneurs: human, social, and psychological capital. Special attention is given to the positive psychological capital strengths of hope, self-efficacy/confidence, optimism, and resilience. We propose that successful immigrant entrepreneurs are those who not only possess, but also seek to further develop and leverage this newly recognised form of capital in themselves and their associates.

Keywords: immigrant entrepreneurs; psychological capital; hope; efficacy; optimism; resilience; confidence; entrepreneurship; globalisation; human capital; social capital; immigrant business; immigrants.

DOI: 10.1504/IJBG.2007.014430

International Journal of Business and Globalisation, 2007 Vol.1 No.2, pp.161 - 175

Published online: 08 Jul 2007 *

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