The effects of entrepreneurs' dark and light traits on their coping strategies and psychological well-being

Abstract

Traditionally, the literature has painted an almost heroic picture of entrepreneurs, in recognition of their contribution to job creation and the economy. However, it has long been evident that there is a sinister side to entrepreneurship, with many shocking cases of harmful and illegal activities by business owners and managers. This malevolent aspect of entrepreneurship is hardly surprising, given that there is a dark side to human nature, and that most people possess both dark and light personality traits. In response to the above, scholars turned their attention to the ‘dark triad’, which comprises the traits of Machiavellianism, psychopathy, and narcissism. This has resulted in a somewhat ‘negative bias’ in the broader psychology research, which responded with the introduction of a contrasting ‘light triad’, comprising the traits of Kantianism, humanism, and faith in humanity. While some authors maintain that more studies on the negative aspects of entrepreneurship are needed, one could argue that the surge of research on the dark triad has been disproportionate and myopic, as it has been excluding the positive aspects of entrepreneurs’ personality, particularly the light triad. This paper addresses this gap in the literature and responds to calls for research that explores both the dark and light triad traits, through the following research question: What are the effects of entrepreneurs’ dark and light triad traits on their coping strategies and psychological well-being (PWB)? This paper builds upon and extends earlier research that explored the relationship between different coping strategies and PWB in the context of COVID-19, by carrying out further analysis on a dataset gathered via an anonymous online survey from 179 self-employed and business owner-managers in Malta (EU) in March 2021. This further analysis is warranted because there are reasons to believe that these outcomes may be influenced by personality traits, including the dark and light triad. Findings indicate that the dark and light triad are respectively detrimental and beneficial, both in terms of associated coping strategies and their effects on PWB. This study is aligned with EURAM’s ‘Entrepreneurial Decision Making and Behaviour’ track (ST03_03 within SIG 03 – ENT) due to its focus on entrepreneurs’ coping and PWB, which include cognitive, behavioural and emotional elements. Moreover, it addresses SDG3 (Good Health and Well-Being), SDG8 (Decent Work and Economic Growth) and SDG9 (Industry, Innovation, and Infrastructure) by virtue of its focus on PWB, and entrepreneurship’s role in spurring employment, economic growth and innovation.