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Psychological Capital Dimensions and Nascent Entrepreneurial Activity Among Ukrainian Refugees: Examining the Moderating Role of Fear of Failure

Vidzivashets, Kateryna LU and Vorona, Solomiia LU (2026) ENTN19 20261
Department of Business Administration
Abstract
This study examines the relationship between four dimensions of psychological capital
(PsyCap) and nascent entrepreneurial activity among Ukrainian refugees residing in
European host countries. Specifically, it analyzes how internally and externally sourced fear
of failure moderates this relationship, focusing on the psychological and emotional barriers
that may limit refugees’ entrepreneurial engagement. Drawing on Conservation of Resources
(COR) theory, the study conceptualises dimensions of PsyCap: hope, resilience, optimism
and self-efficacy, as psychological resources that support goal pursuit, coping and persistence
in the face of uncertainty.
The study employs a quantitative approach, using survey data collected from... (More)
This study examines the relationship between four dimensions of psychological capital
(PsyCap) and nascent entrepreneurial activity among Ukrainian refugees residing in
European host countries. Specifically, it analyzes how internally and externally sourced fear
of failure moderates this relationship, focusing on the psychological and emotional barriers
that may limit refugees’ entrepreneurial engagement. Drawing on Conservation of Resources
(COR) theory, the study conceptualises dimensions of PsyCap: hope, resilience, optimism
and self-efficacy, as psychological resources that support goal pursuit, coping and persistence
in the face of uncertainty.
The study employs a quantitative approach, using survey data collected from Ukrainian
refugees residing in European host countries. The results show that, among the four
dimensions of psychological capital, only hope is positively and significantly associated with
nascent entrepreneurial activity. Resilience, optimism and self-efficacy do not have
significant direct effects. Contrary to the proposed hypotheses, neither internally nor
externally sourced fear of failure significantly moderates the relationships between
psychological capital dimensions and nascent entrepreneurial activity. The findings contribute
to refugee entrepreneurship research by emphasizing the role of specific psychological
resources and fear of failure in shaping nascent entrepreneurial engagement. (Less)
Please use this url to cite or link to this publication:
author
Vidzivashets, Kateryna LU and Vorona, Solomiia LU
supervisor
organization
course
ENTN19 20261
year
type
H1 - Master's Degree (One Year)
subject
keywords
Psychological capital dimensions, nascent entrepreneurial activity, refugee entrepreneurship, fear of failure, Conservation of Resources theory, Ukrainian refugees, host countries.
language
English
id
9241169
date added to LUP
2026-06-23 16:16:53
date last changed
2026-06-23 16:16:53
@misc{9241169,
  abstract     = {{This study examines the relationship between four dimensions of psychological capital 
(PsyCap) and nascent entrepreneurial activity among Ukrainian refugees residing in 
European host countries. Specifically, it analyzes how internally and externally sourced fear 
of failure moderates this relationship, focusing on the psychological and emotional barriers 
that may limit refugees’ entrepreneurial engagement. Drawing on Conservation of Resources 
(COR) theory, the study conceptualises dimensions of PsyCap: hope, resilience, optimism 
and self-efficacy, as psychological resources that support goal pursuit, coping and persistence 
in the face of uncertainty. 
The study employs a quantitative approach, using survey data collected from Ukrainian 
refugees residing in European host countries. The results show that, among the four 
dimensions of psychological capital, only hope is positively and significantly associated with 
nascent entrepreneurial activity. Resilience, optimism and self-efficacy do not have 
significant direct effects. Contrary to the proposed hypotheses, neither internally nor 
externally sourced fear of failure significantly moderates the relationships between 
psychological capital dimensions and nascent entrepreneurial activity. The findings contribute 
to refugee entrepreneurship research by emphasizing the role of specific psychological 
resources and fear of failure in shaping nascent entrepreneurial engagement.}},
  author       = {{Vidzivashets, Kateryna and Vorona, Solomiia}},
  language     = {{eng}},
  note         = {{Student Paper}},
  title        = {{Psychological Capital Dimensions and Nascent Entrepreneurial Activity Among Ukrainian Refugees: Examining the Moderating Role of Fear of Failure}},
  year         = {{2026}},
}