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

Abstract

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.