Entrepreneurs’ Social Network and Opportunity Recognition: Investigating the Mediating Role of Entrepreneurial Self-Efficacy and Moderating Effect of Entrepreneurial Experience

This study explores the association between personal and business networks and opportunity recognition, mediated by entrepreneurial self-efficacy, with a focus on the moderating role of entrepreneurial experience. Guided by Social Network Theory, which emphasizes the significance of social relationships in accessing re- sources and opportunities, this research investigates how different types of networks (personal and business) contribute to the identification of entrepreneurial opportunities. Previous studies have underscored the role of social capital and prior experience in opportunity recognition; however, there is a notable gap in examining the distinct impacts of personal and business networks and how entrepreneurial self-efficacy mediates this relationship. Additionally, this study addresses the lack of research on whether entrepreneurial experience intensifies the effects of these networks on self-efficacy. Utilizing 224 data collected from entrepreneurs in Uzbekistan, our findings reveal that both personal and business networks positively influence opportunity recognition through enhanced entrepreneurial self-efficacy. Moreover, entrepreneurial experience is found to strengthen the impact of personal networks on self-efficacy, thereby contributing to a more nuanced understanding of opportunity recognition dynamics. This study adds to the literature by providing empirical evidence on the interplay between network types, self-efficacy, and entrepreneurial experience, offering valuable insights for both scholars and practitioners.