Characteristics, traits, and attitudes in entrepreneurial decision-making: current research and future directions

An entrepreneur is likely to make decisions using a personal cognitive framework formed over time through the interactions of several contextual and psychological variables, including personal characteristics, traits, and attitudes (CTAs). While past studies have demonstrated the importance of CTAs in new venture creation, they are far from providing a holistic understanding of the role of CTAs in entrepreneurial decision-making (EDM). This review explores the role of specific CTAs on EDM in the context of the early-stage new venture. The authors reviewed the literature between 1990 and 2021 with the following keywords appearing in the title, abstract, and keywords in published journal articles: “entrepreneurial decision making” and “characteristic” or “trait” or “attitude” or “effectuation” or “causation” or “effectual” or “causal”. The authors specifically reviewed the articles published in the Australian Business Deans Council (ABDC) journals. By exploring various CTAs, diverse EDM frameworks, and contextual variations, we aim to provide a comprehensive and nuanced understanding of how individual attributes impact entrepreneurial decision-making.