The Green Entrepreneurial Self-Efficacy as an Innovation Factor That Enables the Creation of New Sustainable Business

Abstract

This study examined the role of green entrepreneurial self-efficacy (GESE) through the lens of dynamic capabilities in innovation and adaptation. The research model postulated a relationship between the reconfiguration of entrepreneurial capabilities necessary to achieve a sustainable business model in the market. A structured questionnaire was adopted, validated, and disseminated among 917 entrepreneurs in Spain and Portugal (Iberian Peninsula). The findings confirmed a significant positive effect of dynamic capabilities on green and sustainable entrepreneurial intentions, mediated by self-efficacy. The study’s results indicate significant relationships between the capabilities studied, and that innovation and adaptation capabilities influence green entrepreneurial self-efficacy. These results are fundamental in guiding the market towards business models that need to be reconfigured to generate value through social impact. We offer management implications for organizations, academics, and other stakeholders, such as policymakers, so that the needs of the green market in the Iberian Peninsula can be met more efficiently.