Prosperity Beliefs and Value Orientations: Fueling or Suppressing Entrepreneurial Activity

Entrepreneurs tend to think differently than nonentrepreneurs. Among the differences are values prizing achievement and self‐direction, while downplaying tradition and conformity. Religion is an important correlate to human values. Nevertheless, previous research has failed to explore adequately the connections among religious beliefs, human values, and entrepreneurial outcomes. The purpose of this study is to test these relationships with a focus on beliefs that God rewards the faithful with material prosperity. We test eight hypotheses using a national survey of working adults. Results of a multigroup path model reveal that value orientations of self‐enhancement, openness to change, and conservation are associated with entrepreneurial attitudes of opportunity recognition and risk willingness. These attitudes likewise correlate with new business creation. Prosperity beliefs moderate the impact of values and entrepreneurial attitudes on the likelihood of starting a new business, but prosperity beliefs by themselves show little direct impact on entrepreneurial attitudes or action.