Does self-efficacy and risk perception influence decision-making logics and venture performance? An application of effectuation and causation theory

Key Points

• Decision-making logics are significantly influenced by self-efficacy and risk perception for better venture performance.
• Results indicate that high self-efficacy improves decision-making effectiveness, enhancing venture outcomes.
• Analysis utilizes a theoretical model based on effectuation and causation theories to explain the relationship.
• Findings highlight the importance of self-efficacy and perceived risks in entrepreneurial decision-making and performance.