Table 1 The definition of entrepreneurial characteristics (Lumpkin & Dess, 1996)

Innovativeness

An intention to introduce new product or services, driven by creativity, trial, process, and use of the latest technology.

Risk taking

A decision with strong determination under uncertainties, e.g., decision to invest in markets or loans, then used to invest in a new venture

Proactiveness

A forward-looking attitude for new business opportunities, e.g., new a product or service design, even in a competitive environment, as well as ways to transform the business

Competitive aggressiveness

A proactive attempt to face severe competition and an ability to counteract well to create a competitive business advantage

Autonomy

The freedom of an individual or a group to make decisions and to push forward new business concepts, practically applying them in real life