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This paper aims to propose a theoretical framework of the dualistic model of entrepreneurial passion (DMEP) and entrepreneurial performance. The framework is based on both the Self-Determination Theory (SDT) and Mood Maintenance Hypothesis (MMH). To gather information, we conducted a comprehensive review of existing conceptual and empirical literature on the topic and synthesized the findings. The findings reveal that the link between DMEP and entrepreneurial performance is distal, with the proposed DMEP having a direct relationship on entrepreneurial performance, and indirect impacts that are serially mediated by factors such as entrepreneurial emotions, risk-taking, competitive aggressiveness, and escalation of commitment. The study presents a succinct framework for the regulation of entrepreneurial passion and its impact on entrepreneurial performance. The study extends the ontological field of the dualistic model of entrepreneurial passion, and the framework is very likely to be validated by empirical research in the future. The practical implications of this study are significant as it provides a thorough comprehension of the connection between entrepreneurial passion and entrepreneurial performance. This information can be used to develop effective strategies and interventions in the field of entrepreneurship.

Keywords: Entrepreneurial Passion, Emotion, Self-Determination, Risk-Taking, Competitive Aggressiveness, Performance, Escalation of Commitment.