Entrepreneurial Motivation: A Multiple Theory Perspective

The purpose of this paper is to examine the motivation of entrepreneurs through multiple theoretical lenses including Equity Theory, Expectancy theory, and Self-Determination Theory (SDT). Equity theory deals with perceptions of fairness in terms of inputs and outputs. Expectancy theory deals with the relationship between the expected effort and expected output, as well as the value of the output. SDT is concerned not only with the quantity of a person’s motivation, but also the quality of motivation (Sheldon, 2004). SDT qualitatively divides motivation between “controlled” forms (extrinsic and introjected) which reflect more external control, and “autonomous” forms (identified and intrinsic) which reflect more internal motivation. Previous research has confirmed that more autonomous forms of motivation are significant predictors of firm survival (Wilbanks, Bradshaw, & Dougherty, 2011) and that the results are not different for males and females (Wilbanks & Wilbanks, 2013). In this paper, we propose a conceptual model incorporating the three motivational theories of Equity, Expectancy, and SDT and a series of theoretical propositions.