Striking Resemblance in the Mirror: Leveraging Perceived Homophily for Hybrid Entrepreneurship

Hybrid entrepreneurs are individuals who are employed in wage-paid jobs and entrepreneurs at the same time. The dual role is increasingly significant in the context of rising unemployment risks, hence, the nature of hybrid entry is worthy of exploring to mitigate unemployment risk. In this research, we draw upon similar attraction theory and social comparison literature to develop a theoretical model predicting that perceived homophily promotes entrepreneurial self-efficacy and positively affects hybrid entrepreneurial intentions. Employees with higher job insecurity or lower anticipated organizational change will experience stronger entrepreneurial self-efficacy, which further leads to their higher intentions to start a new business. We examine our hypotheses with a multi-wave survey study. Our findings provide insights into hybrid entrepreneurial entry and career choice. Theoretical and practical implications are further discussed.