Psychological capital and the entrepreneurial performance of migrant workers: intermediary role of entrepreneurial opportunity identification

Purpose There is a pressing need for research on the difference in entrepreneurial performance influenced by the integration of migrant workers’ psychological capital and entrepreneurial opportunity identification. In addition, there is limited research on the association of entrepreneurial performance with different dimensions of psychological capital and how these dimensions affect the entrepreneurial performance of migrant workers. This research will partially address this gap in knowledge by assessing the influence of psychological capital and entrepreneurial opportunity identification on the entrepreneurial performance of migrant workers in China. Design/methodology/approach This paper conducts a theoretical analysis of psychological capital, entrepreneurial opportunity identification and entrepreneurial performance and proposes a theoretical model of entrepreneurial opportunity identification acting as the intermediary role between psychological capital and the entrepreneurial performance of migrant workers. Based on the data collected from 899 rural households in Shaanxi Province, a structural equation model and a bootstrap method are used to verify the association between psychological capital, entrepreneurial opportunity identification and entrepreneurial performance. Findings Both entrepreneurial opportunity identification and psychological capital are conducive to the improvement of entrepreneurial performance. However, the entrepreneurial opportunity identification is found to exert a more significant impact on the entrepreneurial performance of migrant workers than psychological capital does. Findings have also revealed that the intermediary role of entrepreneurial opportunity identification is more prominent in the relationship between adventure and innovation and the entrepreneurial performance of migrant workers than that of self-confidence and optimism and entrepreneurial performance of migrant workers. Originality/value Based on the results of empirical analysis, the paper proposes corresponding policy recommendations for guiding migrant workers to capitalize on their psychological capital, identify entrepreneurial opportunities, weigh up entrepreneurial risks and ultimately improve their entrepreneurial performance.