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Abstract

This study focuses on entrepreneurial self-efficacy, general self-efficacy, and global self-esteem and on their role in the entrepreneurial process. Apart from providing evidence of the relationship between these self-beliefs and entrepreneurial intention, it also demonstrates how they are related to actual business start-up. Longitudinal data were obtained from 332 unemployed individuals. After 1 year, official confirmations of new firm registrations were collected. Higher levels of all 3 self-referent beliefs were positively associated with entrepreneurial intention. Multivariate analyses showed that entrepreneurial and general self-efficacy beliefs were important predictors of this intention. Self-referent beliefs accounted for an additional 12% of the variance in entrepreneurial intention and for an additional 4% of the variance in actual business start-up beyond the demographic variables.