Description:
This article has two primary objectives: (1) to investigate the impact of entrepreneurial self-efficacy (ESE) on decision-making among nascent entrepreneurs, and (2) to analyze the moderating effect of entrepreneurial personality. An online randomized experiment using a 2x2 between-subject design was conducted. Data were gathered from two sessions, utilizing a sample of 48 business school students in Bangkok who served as representatives of nascent entrepreneurs for this study. Multiple linear regression analysis was employed to evaluate the research hypotheses. The results indicate that nascent entrepreneurs' ESE is positively related to extreme decision-making; an increase in ESE leads to an increase in extreme decision-making. However, entrepreneurial personality was not found to positively moderate the effect of ESE on decision-making. The findings of this study offer significant practical and academic implications for both universities and nascent entrepreneurs. The Too-Much-of-a-Good-Thing (TMGT) effect should be taken into account when fostering ESE and entrepreneurial decision-making