Social Capital, Cognition, and Entrepreneurial Opportunities: A Theoretical Framework

Entrepreneurship—the recognition and exploitation of opportunities—is valuable within organizations as well as in the establishment of new ventures. Some studies have addressed the issue why some individuals take advantage of opportunities and some do not. While some studies find that psychological variables, personality traits and demographic factors may distinguish entrepreneurial activity, these findings are equivocal. Other research has looked to the importance of social capital and network ties to new venture creation. Yet, there is little discussion regarding the possibility that social capital and personal factors interact and influence entrepreneurial behavior. Drawing from social cognitive theory…