This study examined the positive psychological traits of hope and optimism, transformational leadership, and firm performance in high-technology start-up and established firm contexts. Data were collected from 105 (i.e., 49 start-up and 56 established) firms. Results showed that CEO positive psychological traits positively related to transformational leadership ratings. Furthermore, transformational leadership related more strongly to firm performance in start-up than in established firm contexts. Finally, transformational leadership fully mediated the relationship between leader positive psychological traits and firm performance. Implications for theory and practice are discussed.
