Entrepreneurial expectations towards the beginning of the COVID-19 pandemic: Empirical evidence in Brazil





Entrepreneurship, Human Values, Cognitive Adaptability, COVID-19


Objective: To investigate entrepreneurial expectations towards the COVID-19 pandemic through empirical evidence of business practices in Brazil during the beginning of the social distancing period. Also, we sought to test cognitive adaptability and human values as predictors of the decision-making process and to test whether infection with COVID-19 or proximity to the disease related to these constructs. Method: A cross-sectional study was developed with a non-probabilistic sample of 313 Brazilian entrepreneurs, in which four instruments were applied. Descriptive and multivariate analyses were carried out (e. g., exploratory factor analysis and multiple linear regressions). Originality/Relevance: The study contributes to understanding the business decision-making processes through constructs associated with human values and cognitive adaptability. Results: Human and social conditions of survival and the commitment to personal and business financial obligations guide entrepreneurial behaviour. In cases where there was contagion or proximity to the disease, entrepreneurs started to show thoughtful decisions, affective support for employees, flexibility in organizational control, and more empathic values. Theoretical/methodological contributions: This study points out the possible impacts that the COVID-19 pandemic has brought to entrepreneurs and how psychological variables explain their behaviour. Social/managerial contributions: Additionally, it sheds light on entrepreneurship from the needs and desires experienced at the beginning of the COVID-19 pandemic, and on the broader dimension directed to the serious problems experienced today.


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Author Biographies

Gustavo Henrique Silva de Souza, Instituto Federal do Norte de Minas Gerais (IFNMG), Teófilo Otoni, MG, Brasil

is a professor at the Instituto Federal do Norte de Minas Gerais (IFNMG). He is also the Director of Research, Postgraduate Studies, and Innovation at IFNMG (2020-2024). He leads the research group Eupsychic Administration Practices, Bases of Organizational Behavior, and Psychometric Measures (PAEBCOMP/IFNMG). He is the Managing Editor of the Multifaces Journal and Academic Editor of the Journal of Education, Society, and Behavioral Science. He was the President of the Fiscal Council of the Fundação de Apoio e Desenvolvimento do Ensino Tecnológico (FADETEC) for two terms (2018-2022). He holds a Master's degree in Psychology from the Universidade Federal de Alagoas (UFAL), as well as a specialization in Teaching in Professional and Technological Education and a Bachelor's degree in Administration. His research interests and activities focus on Organizational and Work Psychology, Entrepreneurship, Psychometrics, and the Construction of Psychological Measures.

Nilton Cesar Lima, Universidade Federal de Uberlândia (UFU), Uberlândia, MG, Brasil

is an Associate Professor at the Universidade Federal de Uberlândia (UFU) and the Graduate Program in Accounting. He is a CNPq - Level A Industrial Technological Development Scholar. He is also an institutional evaluator for INEP/MEC. He holds a postdoctoral degree in Technology and Society from the Universidade Tecnológica Federal do Paraná (UTFPR). He earned his Doctorate and Master's degrees in Administration from the Universidade de São Paulo (USP). He was the Director of the Faculty of Accounting Sciences (FACIC) at UFU (2015-2018). He leads the Studies Group in Economic-Financial Assessment & Decision Innovations, with research covering valuation, corporate governance, business plan, and entrepreneurial decisions.

Jorge Artur Peçanha de Miranda Coelho, Universidade Federal de Alagoas (UFAL), Maceió, AL, Brasil

is an Associate Professor at the Universidade Federal de Alagoas (UFAL). He earned his Doctorate and Master's degrees in Social Psychology from the Universidade Federal da Paraíba (UFPB). He was a UNESCO consultant (National Pact for Literacy at the Right Age) and CESPE/UnB - Cebraspe consultant (for the development and construction of a psychometric instrument). He was a consultant for Copeve/UFAL (2014-2017) for the development and maintenance of a question bank in educational assessments and selections. He was a reviewer for SATEPSI - Psychological Test Evaluation System of the Federal Council of Psychology (2012-2016). His research interests and activities focus on Psychometrics: Construction and adaptation of psychometric instruments based on Classical Test Theory and Item Response Theory; statistical, mathematical, and computational processing techniques in health and education.

Ana Cláudia Gonçalves de Sá Jardim, Instituto Federal do Norte de Minas Gerais (IFNMG), Teófilo Otoni, MG, Brasil

is a professor at the Instituto Federal do Norte de Minas Gerais (IFNMG). She is also the General Director of IFNMG / Campus Teófilo Otoni (2020-2024). She holds a Master's degree in Management of Educational Institutions from the Universidade Federal dos Vales do Jequitinhonha e Mucuri (UFVJM), a specialization in Management of Micro and Small Enterprises from the Universidade Federal de Lavras (UFLA), and a Bachelor's degree in Mining Engineering from the Universidade Federal de Minas Gerais (UFMG). Her research interests and activities focus on Entrepreneurship, Marketing, and Business Management.


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How to Cite

Souza, G. H. S. de, Lima, N. C., Coelho, J. A. P. de M., & Jardim, A. C. G. de S. (2023). Entrepreneurial expectations towards the beginning of the COVID-19 pandemic: Empirical evidence in Brazil. REGEPE Entrepreneurship and Small Business Journal, 12(2), e2240. https://doi.org/10.14211/regepe.esbj.e2240

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