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Fear and Entrepreneurship: A Review and Research Agenda
Abstract
A systematic review of the entrepreneurship literature on fear published up to 2014 highlights several key characteristics. First, the predominant focus in research examining the emotion of fear in entrepreneurship is on the specific concept of fear of failure. However, this literature shows a lack of precision in the conceptualization and operationalization of this construct. The impact of the experience of fear on individual cognition and behaviour can be beneficial as well as detrimental. Despite this dualistic nature, to date, fear is examined as only a barrier to entrepreneurial behaviour. This review reveals a clear dichotomy in the literature, with significantly more focus on fear as a trait that distinguishes between people than as a temporary state that is commonly experienced by many people. Defining fear of failure as a context-specific phenomenon, this paper explains the importance of focusing on the temporary cognitive and emotional experience of fear and use conceptual observations as a platform to develop an agenda for future research.
... Hence, this paper conducts a quantitative analysis of the role of SEW in driving escalation of commitment to a failing family firm and the likelihood of reentering entrepreneurship after failure. Further, this paper answers prior research calls by assessing the role of fear of failure and internal attribution as moderating factors in the interplays (Cacciotti and Hayton, 2015;Costa, Ferreira, and Torres de Oliveira, 2023). ...
... Cacciotti et al. (2020) define fear of failure as "a negative affective reaction based on cognitive appraisals of the potential for failure" (p. 1). Individuals experiencing fear will likely search for ways to reduce the likelihood of the feared event via three approaches: confrontation ("fight"), avoidance ("flight"), or paralysis ("freeze") (Cacciotti and Hayton, 2015). For failing firms, however, avoidance or paralysis often do not represent viable options, as they materialize failure or fuel the downward cycle. ...
... Therefore, picturing the consequences of failure in situations of financial distress will likely trigger a feeling of fear among ownermanagers with a high fear of failure. Accordingly, these individuals will likely act to reduce the likelihood of failure by actively "fighting" against its occurrence, given that alternative paths to avoid failure rather accelerate the downward cycle (Cacciotti and Hayton, 2015). Consequently, fear of failure will fuel the protection and preservation behavior induced by higher SEW, thus acting as a moderator. ...
Prior research has repeatedly highlighted the influence of socioemotional wealth (SEW) on decision-making processes in family firms, given that owner-managers seek to protect their SEW endowments and identity. Yet, little is known about how this influence unfolds in situations of firm failure and how far owner-managers will go to preserve their SEW and identity. Hence, this paper investigates the role of SEW in driving escalation of commitment to a failing family firm and the likelihood of reentering entrepreneurship after the firm’s failure. Furthermore, the role of fear of failure and attribution as moderators in the interplays are investigated. Two vignette studies leveraging 314 observations from owner-managers of family-owned craft businesses in Germany provide evidence for a positive impact of SEW on the degree of commitment escalation to a failing firm and the intention to reenter entrepreneurship after failure. Moreover, the results of the analysis suggest that fear of failure plays a moderating role in the interplay between SEW and escalation of commitment, reducing the extent of commitment escalation by owner-managers. Hence, fear of failure dispositions might either help fuel rationality in decision-making or trigger a “freeze” or “flight” coping strategy rather than direct failure avoidance via additional investments. The findings of this paper hold informative value for owner-managers seeking to reduce adverse or impulsive decision-making and governmental bodies trying to understand how economic wealth might be adversely influenced by a SEW-induced urge to protect failing family businesses. Furthermore, the underlying results enrich the current theoretical understanding of the dark side of SEW while clarifying manifestations of grief, attribution, and fear of failure in the family firm context. At last, this paper outlines various avenues for future research.
... In this article, fear is the central theme. For Cacciotti and Hayton (2015), fear of bankruptcy and failure are the most present forms in the literature on entrepreneurship, followed by fear of opening a new business. This study is thus warranted as it presents an innovative perspective on understanding fear as part of the entrepreneurial journey, moving away from the idea of "fearless heroes", so that the narrative on entrepreneurship can be addressed more realistically. ...
... Therefore, this article addresses the suggestion made in research that indicates the relevance of studying the emotions of entrepreneurs and the complex context in which they perform (Welpe et al., 2012;Cacciotti & Hayton, 2015). Cacciotti et al. (2016) revealed the need to treat these emotions in a broader social context and as part of the entrepreneurial process. ...
... Cacciotti et al. (2016) revealed the need to treat these emotions in a broader social context and as part of the entrepreneurial process. According to Cacciotti and Hayton (2015), fear is an emotion that can be present at all times in the process of opening a business, whether this involves beginner entrepreneurs or experienced entrepreneurs. As evidence of the importance of the topic, Cardon et al. (2012) presented an edition of Entrepreneurship Theory and Practice especially dedicated to emotions, titled "Exploring the Heart: Entrepreneurial Emotion is a Hot Topic", and they suggest further research on emotions in what is considered the "extreme context that is to open a business venture". ...
Purpose-This article aims to investigate the fears of entrepreneurial women in consolidated businesses, in view of the current volatile political and economic situation in Brazil. Design/methodology/approach-We chose a qualitative and interpretative approach, using in-depth interviews with expert entrepreneurs with already consolidated businesses as the data collection technique. We did not define the categories a priori, but instead they emerged inductively from what the interviewees said. Findings-The findings indicate that the fears present in entrepreneurial activities go beyond those related to opening a business and its continuity, such as fear of bankruptcy. We noticed that during the entrepreneurial trajectory, fears alter and can be grouped into the following categories: fears related to the future of the enterprise and the entrepreneur; specific fears concerning the business sector; fears related to financial aspects. The economic instability in Brazil seems to be an aggravating factor and was present at all times in the women's statements. Originality/value-The theoretical contribution of this study lies in the finding that there are fears that can change as the woman and the enterprise mature. This finding goes beyond the fears commonly found in the literature, which are the fear of opening a new business and that of failure or bankruptcy. This study is aligned with those that address the emotions that permeate entrepreneurial activities. By identifying that women have different types of fears over time, the study could, as a practical contribution, lead to business training programs that, in addition to technical aspects, also include emotional dimensions to better prepare entrepreneurial women.
... In the following sections, we conduct a critical review of the EFoF literature to identify the factors that may influence college students' EFoF, as depicted in Fig. 2. We adopted the person-environment framework of EFoF proposed by Cacciotti and Hayton [48]. As the framework highlights an individual's subjective experience and contextualization of EFoF, we categorized the identified factors into environmental and individual levels. ...
... Conversely, a few studies have argued that EFoF can also exert a motivational influence on individuals' entrepreneurial behavior [7,48], but this claim has not been examined among college students. In psychology, the achievement motivation theory suggests that individuals make proactive efforts to achieve goals or standards that are threatened [71]. ...
... In addition, the research included in this scoping review was cross-sectional in nature, focusing only on EFoF traits displayed by college students at a specific point in time. However, the EFoF is influenced by both individual experiences and changes in the external environment, implying a dynamic person-environment model [48]. Thus, cross-sectional data fail to provide a comprehensive and analytical mechanism for EFoF that could effectively explain its underlying causality and nonlinear aspects [17,35,36,79]. ...
Entrepreneurial fear of failure (EFoF) is a psychological barrier to college entrepreneurship. Current research on EFoF among college students is at an emerging stage, and relevant evidence, such as the factors influencing EFoF, remains unclear and unsystematic. Most EFoF studies treat college students as general entrepreneurs, neglecting their unique social identities and situational contexts that influence their EFoF, such as parents and education. It is essential to provide a thorough and organized review to comprehensively understand the role of the EFoF in college student entrepreneurship. A scoping review was conducted following the PRISMA-ScR protocol to offer a broad exploration and mapping of the literature. This review identified 35 studies published from 2010 to 2023 through a rigorous search and sift across five prominent databases. Descriptive and thematic analyses revealed 1) the characteristics of the included studies, 2) the exogenous and endogenous factors that influence college students' EFoF, 3) the outcomes of EFoF on college students, and 4) research gaps. By mapping and synthesizing the literature, this scoping review contributes to the theory by providing a comprehensive overview of EFoF among college students and identifying research gaps, which illuminates future research directions. The findings also offer practical insights for entrepreneurship practitioners, including college student entrepreneurs, policymakers, and educators, to better understand the role of EFoF among college students, thus effectively promoting the development of college student entrepreneurship.
... Concretely and importantly for this investigation, we start by noting that entrepreneurship is a highly unpredictable endeavour associated with significant uncertainties in which people have to navigate the world without prior knowledge or experiences (Cacciotti and Hayton 2015). In such a volatile and ambiguous environment, emotions and our attitudes towards risk play a crucial role (Lawrence et al. 2008;Mickiewicz and Rebmann 2020). ...
... Thus, we cannot definitively say whether our observed effects were driven by fear, or whether their lack was due to the fact that some students experienced fear, while others felt anger. As previously noted, this is relevant since the various negative emotions are not the same when it comes to processing information and making decisions (Dunn and Schweitzer 2005;Whitson and Galinsky 2008;Cacciotti and Hayton 2015;Erhardt et al. 2021;Kassas, Palma and Porter 2022). Future research could therefore use a method that exclusively triggers fearful emotions as suggested by Hewig et al. (2005) and see whether it leads to different results. ...
... Kerr, Kerr and Xu 2018). The timing of measuring risk has also been shown to affect its respective level. For instance, a recent study conducted by Kassas, Palma and Porter (2022) has shown that induced emotions in the laboratory can wane quickly, even within a minute, which is particularly relevant since we were exploring temporary states of fear (Cacciotti and Hayton. 2015). Consequently, the authors urge researchers to measure risk immediately after the manipulation, which is exactly what we did. Aside from two brief questions following the fictional media article, we skipped any intermediate task and proceeded right to the relevant questions. Indeed, the questions concerning risk were asked first. Howeve ...
The post-conflict literature is consistent in reporting that wars leave a painful and lasting legacy on those that experience it directly. This article aims to contribute to this broad body of literature by exploring how threats of possible new conflict affect the generation born after the war in Bosnia and Herzegovina. Our study relies on primary data collected through a controlled experiment amongst business students at three universities dominated by three different ethnicities across the country. The students were exposed to a tailored, yet fictional media report discussing the possibility of a new war. The outcomes from our Structural Equation Model reveal that the threat of a new conflict is associated with lower entrepreneurial intentions of business students and mediated by greater risk aversion. As a result, we provide evidence that the permanent warmongering in a post-conflict context, which is often a regular occurrence in such environments, cannot be dismissed as just empty rhetoric. Rather, it can potentially have severe economic consequences that might hamper economic development and prospects in the medium and long run.
... In the scope of this study, fear of failure was considered a key emotion based on its role in previous studies (Cacciotti et al., 2016;Cacciotti & Hayton, 2015;Mitchell & Shepherd, 2010;Mitchell et al., 2011;Weber & Milliman, 1997), and was operationally defined as a psychological factor inhibiting entrepreneurship (Arenius & Minniti, 2005;Minniti & Nardone, 2007). On the one hand, fear may present negative emotional responses, leading entrepreneurs to have potentially negative views on certain opportunities (Welpe et al., 2012). ...
... In this regard, fear of failure depends, in turn, on factors such as financial burdens in case of business failure, family opposition, loss of reputation, loss of self-esteem, and the threat of economic crisis or unemployment, which are also related to subjective norms (Romero-Martínez & Milone, 2016). Fear of failure also encompasses cognitive, emotional, attitudinal and behavioral responses and can occur throughout the entrepreneurship process, influencing not only an entrepreneur's decision to start a venture but also the ongoing management (Cacciotti & Hayton, 2015). ...
... Thus, in this particular sample, fear of failure affected perceived behavior control and also influenced attitude. In other words, if one is fearful, such an effect impacts attitude and their perceived behavior control (Cacciotti & Hayton, 2015;Romero-Martínez & Milone, 2016). In this regard, H1, H2, H3, and H4 were all supported in this sample since fear of failure negatively influenced attitude (b = − 0.269; p = .001), ...
... Another key psychological issue affecting (potential) entrepreneurs is fear of failure in their ventures, which has been indicated as a deterrent for entrepreneurship [60,61]. It may not only deter the intention of individuals to engage in entrepreneurship, but it may also affect those already involved in entrepreneurial ventures [62]. ...
... However, we did not find enough evidence that it relates to entrepreneurial intention. A potential explanation could be related to the complexity of fear as an emotion [60], as research focusing on risk, a concept related to fear of failure, has found inconsistent effects throughout studies [81]. Furthermore, it has been argued that entrepreneurial intention could be better explained by an individual's ability to recognize opportunities than by their risk-bearing attitudes [82]. ...
Entrepreneurship is widely recognized as a vital driver of economic growth, yet its relationship through different stages with broader, non-purely monetary dimensions still needs to be explored. This research seeks to fill this gap by investigating the association between human development and entrepreneurship, recognizing the crucial role of environmental conditions in shaping entrepreneurial activity. Our cross-country Bayesian analysis shows strong evidence that a nation’s level of human development is associated with entrepreneurial activity in three stages: early entrepreneurship, intention for future engagement, and discontinuation of ventures. Our findings expand the intricate relationship between entrepreneurship and economic variables, highlighting the importance of environmental conditions in shaping entrepreneurial behavior. This article emphasizes that promoting robust entrepreneurial ecosystems requires considering integral dimensions such as human development. Policymakers and researchers should broaden their perspectives to encompass these holistic dimensions to create an environment conducive to entrepreneurial growth.
... In addition, we have proposed that gritty entrepreneurs experience higher personal fulfillment because they engage in more personal development. Similar to our argument above, we expect that gritty entrepreneurs with high levels of anxiety are less likely to achieve their goals for personal development, because anxiety leads to more avoidance behavior (Cacciotti & Hayton, 2015;Dymond & Roche, 2009;Thompson et al., 2020), effectively reducing entrepreneurs' capacity to take actions necessary for development (e.g., Albert Bandura, 1991;Dymond & Roche, 2009). Consequently, entrepreneurs with high levels of grit and high levels of anxiety will make less progress in their personal development than entrepreneurs with high levels of grit and low levels of anxiety, ultimately resulting in lower personal fulfillment for the former. ...
... Cohen & Wills, 1985;House et al., 1988). Further, educators' support is pivotal in reducing anxiety (Cacciotti & Hayton, 2015;Cacciotti et al., 2016). For example, educators may provide training related to mindfulness (Hülsheger et al., 2013) or emotional intelligence (Ciarrochi et al., 2002) and generally create an environment that fosters autonomy in aspiring entrepreneurs (Richard M. Ryan & Deci, 2000) to reduce anxiety. ...
Entrepreneurial grit, defined as passion and perseverance for long-term goals, has repeatedly been linked to higher venture performance. In this paper, we theorize that higher levels of grit may also lead to more nonfinancial success and stronger societal impact for entrepreneurs and that anxiety is a negative moderator in these relationships. We test our model among 1,398 German entrepreneurs in a broad range of industries and find support for our hypotheses. We contribute by uncovering grit as a novel determinant for the nonfinancial success measures of personal fulfillment and workplace relationships, as well as for societal impact, and by shedding light on the role of negative emotions as attenuators in these relationships.
... Entrepreneurship is commonly seen as an emotional 'rollercoaster ride' characterised by heightened emotions (Cacciotti and Hayton, 2015;Schindehutte et al., 2006;Shepherd et al., 2011;Waldman et al., 2024). To date, research on emotions in entrepreneurship has predominantly focused on the experience of either positive or negative emotions, their antecedents (e.g. ...
... However, the majority of the emotion management literature either implicitly, or explicitly, focuses upon the occurrence of unwelcome, stressful, or negative emotions that individuals aim to overcome by regulating them, or applying coping strategies (Gross, 2015). In the entrepreneurial context, this encompasses the exploration of how, why and when entrepreneurs (should) manage negative emotions that occur during extreme situations such as, failure or crisis (Cacciotti and Hayton, 2015). ...
Existing research in the entrepreneurial context tends to treat emotions as static phenomena, paying limited attention to the question of how entrepreneurs can actively shape their emotional experiences through emotion management to enhance their well-being and performance. Furthermore, the exploration of how entrepreneurs manage their emotions to sustain their entrepreneurial activities often employs different concepts and terminologies resulting in a fragmented literature that lacks continuity. To extract a common thread from this research field, we conducted a systematic integrative review and integrated research on emotional intelligence, emotion regulation, and emotion-focused coping in the entrepreneurial context using the umbrella term of emotion management. With a comprehensive framework, we organised the emotion management literature around perspectives on an entrepreneur’s individual ability, a trait, and situation-specific strategies. Additionally, we highlighted contextual factors, specifically macro- and meso-level factors, individual factors, antecedents, and consequences. Drawing upon our findings, we reveal existing gaps and propose future directions for emotion management in entrepreneurship research.
... Fear of failure is an inherent and inevitable part of entrepreneurship (Hunter et al., 2021;Kollmann et al., 2017). As a socially situated negative reaction to different uncertainties and challenges (Cacciotti and Hayton, 2015;Cacciotti et al., 2016), fear of failure can significantly shape entrepreneurial outcomes (Cacciotti et al., 2016;Kollmann et al., 2017;Morgan and Sisak, 2016). However, empirical evidence of the consequences of entrepreneurial fear of failure is inconsistent. ...
... Another important, but less examined source of the fear of failure arising from internal sources, relates to the expectations of important others. Running a business involves several social actors, such as investors, partners, team members and significant others, such as family and friends (Cacciotti and Hayton, 2015). Not being able to meet their expectations and not being able to spend time with important others threatens social esteem and increases perceived opportunity cost (Cacciotti et al., 2016, which can trigger the exit intention. ...
This article investigates the relationship between entrepreneurial fear of failure, exit intentions and the moderating impact of a conducive social environment, particularly business incubators, in the context of a developing economy. It provides empirical evidence on how different sources of fear of failure influence an entrepreneur’s intention to exit a venture. Building on social-cognitive theory and leveraging survey data collected from 255 practising entrepreneurs, we show that sources of failure related to the self lead to higher exit intentions whereas external sources of failure do not trigger such intentions. Notably, the positive relationship between self-related fear of failure and exit intention is reduced when entrepreneurs operate within the supportive framework of business incubators. This study highlights the specific dynamics of developing economies that can have profound impacts on the psychology of entrepreneurs. Overall, the study provides valuable insights into how fear of failure shapes entrepreneurial outcomes and how a supportive social environment can mitigate its negative impact, particularly in a developing country context such as Pakistan.
... In previous literature on entrepreneurship, FOF has been defined as a negative variable that hinders entrepreneurial start-up decisions and worked as an inhibitor in building entrepreneurial behaviour in individuals (Cacciotti and Hayton, 2015). Although there is always a debate in entrepreneurship literature regarding the dimensions of the construct 'fear of failure'. ...
... Apparently, emotions are ubiquitous in entrepreneurship because of their uncertain nature (Baron, 2008). Uncertainty in entrepreneurship gives rise to negative emotions, which consequently arouses the feeling of fear (Patzelt and Shepherd, 2011;Cacciotti and Hayton, 2015). An inherent effect of this fear of not succeeding in entrepreneurial goals indicates the detrimental impact on the PWB of entrepreneurs (Uy et al., 2017). ...
... To reduce risks, students may channel their fear into partnerships, money, or professional assistance, converting their perceived behavioral control, personal attitude, and anticipated viability into concrete goals [54]. Whether fear acts as a motivator or a deterrent determines the direction and intensity of this moderation [99]. Therefore, examining entrepreneurial fear as a moderator can aid in improving the propositions built on the basis of TPB to improve their SEI. ...
Today, the world is facing two major issues: unemployment and environmental degradation. To promote employment, universities and higher educational institutions all over the world are boosting entrepreneurial intentions among students to overcome the challenge of unemployment. Moreover, in higher educational institutions in developed and developing countries, sustainability is being promoted. However, Pakistan is far behind in applying these concepts simultaneously. Hence, the objective of the study is to promote sustainable entrepreneurial intentions among the students. For the said purpose, considering the inconsistent findings in the literature where the theory of planned behavior is used to cater to entrepreneurial intentions, entrepreneurial fear and the use of artificial intelligence are added to the theory of planned behavior as a moderator with the support of protection motivation theory and experiential learning theory. The data have been collected from 384 students studying at higher educational institutions in Pakistan. The developed framework has been evaluated using SMART PLS3. The findings confirmed that personal attitude, perceived behavioral control, and perceived feasibility significantly influence sustainable entrepreneurial intentions. Moreover, the synergistic moderation of entrepreneurial fear, as well as the use of artificial intelligence in teaching, is significant. This study ends up with policy guidelines and limitations along with future directions.
... As for methodological limitations, it is important to mention that our research may be limited by the validity of the measure of fear of failure. Some scholars have criticized the GEM measure of fear of failure as it is a single-item measure (Cacciotti & Hayton, 2015). While we agree that a single-item measure has detrimental effects on construct validity (Cook & Campbell, 1979), the measure of fear of failure is widely accepted in studies investigating the phenomenon across countries (e.g., Boudreaux et al., 2019;Lee et al., 2022;Wennberg et al., 2013) and, thus, forms the best possible and available country-level measure for our study (Simmons et al., 2019;Wyrwich et al., 2016). ...
Scholars studying entrepreneurship are increasingly interested in understanding the impact of informal factors, such as national culture or norms, on entrepreneurial behavior. One concept that is receiving particular attention is fear of failure. While the prevailing assumption here is that it functions as a hindrance, recent studies are beginning to challenge this view. Adopting a perspective on fear of failure as a country’s cultural characteristic, we examine its differential effects on the emergence of entrepreneurship at the country level across three stages of the entrepreneurial process: the pre-launch, launch and post-launch stage. Across a set of 89 countries, we find empirical evidence showing that the effects of collective fear of failure unfold differently at subsequent stages of entrepreneurship. While collective fear of failure is negatively related to the emergence of entrepreneurial intentions and opportunity-seeking behavior, it is positively related to entrepreneurial activity in later stages that aims to achieve growth and innovation. Our research contributes to the field of entrepreneurship by reconciling previously conflicting findings on the role of fear of failure in entrepreneurship and extends the ongoing discussion of entrepreneurship as a process.
... Hambatan psikologis ini melemahkan kepercayaan diri dan mengurangi kemungkinan untuk mengambil risiko yang diperlukan dalam memulai bisnis. Menurut Cacciotti & Hayton (2015), ketakutan akan kegagalan dapat mengurangi niat berwirausaha dengan menciptakan aversi terhadap risiko dan ketidakpastian yang melekat dalam kegiatan wirausaha. Selain itu, penelitian oleh Arenius dan Minniti (2005) menemukan bahwa ketakutan akan kegagalan adalah faktor penting yang mempengaruhi keputusan untuk menjadi wirausaha, sering kali mengalahkan aspek motivasional lainnya seperti keinginan untuk mandiri atau keuntungan finansial. ...
This study, conducted on a global scale, analyzes the effect of ease of starting a business, perceived ability, and fear of failure on early-stage entrepreneurial activity (TEA) and entrepreneurial interest. The data from the Global Entrepreneurship Monitor 2023/2024 spans 45 countries, providing a comprehensive view of the entrepreneurial landscape. The results of this study indicate that perceived ability has a significant and positive impact on both early-stage entrepreneurial activity and entrepreneurial interest and has broad implications for entrepreneurial behavior worldwide. Conversely, fear of failure has a significant impact on reducing a person's interest in entrepreneurship. This can be interpreted as fear of failure, which can prevent someone from planning or starting a business. These findings highlight the study's practical implications, pointing to the need for policies that can bolster perceived ability and mitigate fear of failure. By doing so, these policies could foster a more conducive environment for global entrepreneurial activity.
... The greatest fear in the entrepreneurial process stems from concern about the consequences of potential failure, and almost every entrepreneur has feelings and experiences of fear of failure [1,2]. Thus, entrepreneurial fear of failure (EFF) is more generally considered a psychological element that limits entrepreneurial behavior and impairs the entrepreneurial process [3]. ...
Based on self-regulation theory, this paper constructs two paths through which entrepreneurial fear of failure affects entrepreneurial exit intentions, and explores the moderating effect of the locus of control. We analyze a sample of 308 entrepreneurs from small and medium-sized private enterprises located in Southeast China. The results shown that entrepreneurial fear of failure not only stimulates entrepreneurial identity centrality in a self-regulated driving state but also leads to emotional exhaustion in a state of self-regulated depletion, with two effects on entrepreneurial exit intentions. The facilitating effect of entrepreneurial fear of failure on entrepreneurial identity centrality is stronger for internals than externals, whereas the facilitating effect of entrepreneurial fear of failure on emotional exhaustion is stronger for externals than internals. This research provides a theoretical basis and managerial insights for using entrepreneurial fear of failure to motivate its promoting effects and inhibit its hindering effects on sustainable entrepreneurship.
... Similar to skydivers, entrepreneurs take a leap into an uncertain profession, which is why pursuing entrepreneurship as a career is an act of courage. According to earlier researches on the subject, fear of failure is a negative element that makes it more difficult to decide to launch a business and prevents people from developing an entrepreneurial mindset (Cacciotti and Hayton, 2015). Though the definition of "fear of failure" and its dimensions are a constant source of disagreement in the literature on entrepreneurship. ...
The transition from hybrid entrepreneurship- where individuals maintain part-time employment while nurturing their business ventures-to full-time entrepreneurship presents unique challenges and opportunities. This conceptual paper examines the critical factors that influence the possibility of making the transition from hybrid to full-time entrepreneurship. To develop a more sophisticated knowledge of the dynamic entrepreneurial journey, it is imperative to assess the experience learning that occurs throughout the hybrid phase. To present a conceptual model and related claims, this conceptual paper used secondary data analysis of previously published academic literature, specifically utilizing a thematic analysis. Three elements are identified in the proposed conceptual model as being likely to affect the decision to transition: fear of failure, entrepreneurial competency development and self-efficacy. In this study, hybrid entrepreneurship is demonstrated to be a useful training ground and a route for full-time entrepreneurship. There are three main sources of value in the paper. First, applying an established theory to a novel setting in order to provide a transdisciplinary approach. Secondly, a conceptual model is established, providing statements that are easily connected to theories for further empirical analysis. Third, raising the profile of hybrid entrepreneurship in the literature to promote support and involvement from the public policy sphere.
... Entrepreneurs are motivated to avoid failure to shield themselves from the losses they have or expect to incur (Ucbasaran et al., 2013;McGrath, 1999). Accordingly, rates of entrepreneurial activity may be suppressed due to the widespread fear of failure engendered by the high perceived likelihood and costs of failure (Levie et al., 2011;Cacciotti & Hayton, 2015;Bosma & Schutjens, 2011;Yang & Aldrich, 2012). However, despite having the option to potentially reduce their personal financial risk by pursuing wage employment, entrepreneurs often re-engage in venture creation following a prior failure experience (Baú et al., 2017;Eggers & Song, 2015;Lin & Wang, 2019;Nielsen & Sarasvathy, 2016;. ...
Business failure may be a challenging experience for many entrepreneurs, yet entrepreneurs continue to engage in venture creation and development. The present study integrates Social Cognitive Career Theory (SCCT) with recent theoretical and empirical insights on habitual entrepreneurship to explain and predict how past performance shapes entrepreneurs’ subsequent career-related cognitions and behavior. Leveraging a novel cross-national dataset of 2,093 experienced entrepreneurs in Latin America, this study found that compared to experienced entrepreneurs without prior failure, failed entrepreneurs are more likely to start new businesses. The study also found, counter to expectations, that the likelihood of entering paid employment decreases, rather than increases, after a venture failure. The study concludes by considering the implications of these findings and suggesting avenues for future research.
... It is suggested that those with increased fear of failure are less likely to become an entrepreneur (Arenius & Minniti, 2005;Morgan & Sisak, 2016;Wagner, 2007). Although it can have mixed effects, it is observed that fear of failure both suppresses entrepreneurship but can also stimulate entrepreneurs to work harder and achieve their goals (Cacciotti & Hayton, 2015). Fear of failure, in the context of entrepreneurship, has seven distinct sources: "Financial security, social esteem, personal ability, ability to raise capital, venture potential, opportunity cost and the Idea's potential" (Cacciotti et al., 2016, pp. ...
... Otro hallazgo importante es que, las emprendedoras perciben que la presencia de barreras burocráticas y el trato discriminatorio de las organizaciones combinado con la ausencia de falta de confianza las lleva a la generación de bajas o nulas ganancias. Se puede explicar que las emprendedoras no percibieran este último factor como una dificultad para generar ganancias, con lo expresado por Cacciotti y Hayton (2015), la visión del miedo al fracaso es un estado pasajero que emerge y desaparece en respuesta a las señales ambientales cambiantes, por lo que varía según las expectativas de los emprendedores. ...
Este estudio analiza los factores del entorno empresarial que influyen en la actividad de las micropymes turísticas rurales dirigidas por mujeres en Costa Rica. Basándonos en la teoría institucional, se seleccionaron elementos institucionales formales (capital humano, barreras burocráticas, financiación, apoyo gubernamental) e informales (códigos de conducta, normas sociales, papel familiar) que influyen en la actividad empresarial femenina. Se realizó un análisis comparativo cualitativo difuso (fsQCA) a una muestra de 28 mujeres empresarias turísticas rurales costarricenses para conocer las interacciones entre dichos factores que afectan a la generación de ganancias. Los resultados de la investigación revelan cinco configuraciones diferentes que conducen a bajas o nulas ganancias en la actividad empresarial femenina. Los factores formales (barreras burocráticas y bajos niveles de capital humano), combinados con la presencia o la ausencia de otros factores institucionales tanto formales como informales representan una condición crítica vinculada con la baja o nula generación de ganancias. Las implicaciones teóricas de esta investigación contribuyen al conocimiento de los elementos institucionales formales e informales que afectan el crecimiento de las empresas dirigidas por mujeres en el sector turístico rural costarricense, y en las implicaciones prácticas, contribuye al fortalecimiento de la actividad empresarial femenina. Palabras claves: teoría institucional, mujeres emprendedoras, turismo rural, Costa Rica
... From a psychological perspective (cacciotti & hayton, 2015;Gómez-araujo & chandra, 2017;vaillant & lafuente, 2007), failure is seen as a characteristic that arises from the socio-cultural context. it is influenced by ingrained societal norms, such as the belief that failure is a shameful experience, which negatively affects an individual's attitude (hessels et al., 2011). ...
... From a psychological perspective (cacciotti & hayton, 2015;Gómez-araujo & chandra, 2017;vaillant & lafuente, 2007), failure is seen as a characteristic that arises from the socio-cultural context. it is influenced by ingrained societal norms, such as the belief that failure is a shameful experience, which negatively affects an individual's attitude (hessels et al., 2011). ...
Entrepreneurship helps to mainstream the disadvantaged. In order to design policy for the promotion of entrepreneurship among disadvantaged people a proper understanding of entrepreneurship is imperative and cognition has been considered as the best interpreter of entrepreneurship. This study aimed to explore the driving forces and hindrances that influence disadvantaged individuals in their decision to initiate entrepreneurial endeavors. We are using a sample of 1173 people taken from the low-income population of India. The data is analyzed through the use of the Logistic regression technique. The result reflects that attitude, subjective norms, self-efficacy, perceived opportunities and role models encourage Indian disadvantaged to start business. This research contributes to two existing theories: challenge-based entrepreneurship and the theory of planned behavior. It also sheds light on a previously understudied group - disadvantaged entrepreneurs in developing economies. This knowledge can be used by policymakers to create programs that encourage entrepreneurship at the grassroots level.
... Segundo, en la gráfica 21, se presenta el porcentaje de personas que manifiestan que el temor al fracaso no les representa un inconveniente para decidir crear empresa. Aunque algunos expertos consideran que el miedo al fracaso puede ser una barrera para emprender (Dutta & Sobel, 2021), otros sugieren que su impacto en la cognición y el comportamiento puede tener tanto aspectos beneficiosos como perjudiciales (Cacciotti & Hayton, 2015). En resumen, el miedo al fracaso emerge como un factor determinante en el proceso emprendedor (Ahmadi & Soga, 2022). ...
The report provides updated information on entrepreneurial and business activities in Colombia, both at the individual and ecosystem levels. In this regard, in 2023, the National Entrepreneurship Context Index (NECI) in Colombia decreased from 4.5 (2022) to 4.1, placing the country 37th among the 49 countries participating in the GEM. This outcome is explained by the fact that only three structural conditions of the environment—entrepreneurial education at the university level, social and cultural norms, and access to physical and service infrastructure—were rated as sufficient. In other words, the majority of the conditions for entrepreneurship were assessed by experts as insufficient. In this context, the structural conditions of the environment that most negatively impacted this indicator were entrepreneurial education at the school level, government policies, financing, and the transfer of research and development.
... Shinnar et al. (2012) emphasize that fear of failure is a personal characteristic that can be challenging to alter, suggesting that it may not differ significantly between genders. Cacciotti et al. (2016) and Cacciotti & Hayton (2015) highlight the socially situated context's influence on cognitive beliefs about the consequences of failure, indicating a commonality in how fear of failure is perceived regardless of gender. ...
This study aimed to investigate the relationship between fear of failure and entrepreneurial intentions in students. The Entrepreneurial Intention Questionnaire (EIQ) was used to assess entrepreneurial intention, while the Performance Failure Appraisal Inventory (PFAI) was employed to evaluate the fear of failure. The study involved 288 students from various regions in Indonesia, and accidental sampling was used as the sampling technique. The analysis, using the Spearman-Rho correlation test, revealed a negative correlation between fear of failure and entrepreneurial intention (p = 0.033 (p < 0.05)), indicating that higher levels of fear of failure were associated with lower entrepreneurial intentions. Furthermore, the analysis showed that specific aspects of fear of failure, such as fear of shame and embarrassment (p = 0.016), fear of devaluing one's self-estimate (p = 0.002), and fear of having an uncertain future (p = 0.031) were significantly negatively correlated with entrepreneurial intentions. However, the fear of important others losing interest and the fear of upsetting important others showed no correlation with entrepreneurial intention. Additional analysis revealed no significant differences in entrepreneurial intention based on age and gender, but a significant difference was observed based on domicile. Fear of failure also did not show significant differences based on the age, gender, and domicile of the respondents.
... Business and Enterprise Development self-enhancement and achievement less, and security and benevolence more, i.e. showing the very same value preferences as employees vs self-employed. Moreover, GEM-based studies consistently show that women fear failure more than men (Cacciotti and Hayton, 2015), with an obvious link to security values. Similar findings can be found concerning the influence of age on personal values. ...
Purpose-The study responds to the calls for multilevel approaches in entrepreneurship research and seeks to answer whether the relationships between personal values and entrepreneurship remain stable across different economic conditions, using the unemployment rate as a moderator. It pays attention to the solo self-employed and women, as these groups are particularly vulnerable when crises occur.
Design/methodology/approach-We use Schwartz's theory of human values, which has been understudied in entrepreneurship and follow a correlational research design with micro and macro variables. Multilevel logistic regression is applied to the data from the large sample of 151,032 individuals participating in six waves of the European Social Survey. Solo self-employed are distinguished from those employing others, and analyses are run separately for men and women to understand gender differences.
Findings-The findings show that self-direction and achievement are positively, and benevolence and security negatively related to entrepreneurship. The high unemployment rate lowers the positive relationships with self-direction and achievement and mitigates the negative relationship with security, but only for the solo self-employed and not for employers. Results mostly hold for both genders.
Research limitations/implications-The study suggests that security-related values should not be omitted from entrepreneurship research focused on entrepreneurs' values. It also emphasizes the need to distinguish between various subgroups of entrepreneurs and their motivation, which is important for efficient active labor market policies.
Originality/value-The study utilizes multilevel analyses that account for individual-and country-level influences on entrepreneurial activity. It contributes to understanding how economic context influences value salience and supports the applicability of Schwartz's theory of human values in entrepreneurship.
... Other than its impact on the academic aspects, FOF has also been known to have an effect on general behaviors of each individual. By investigating the impact of FOF on individual behavior, we can then understand the role of FOF in relation to being a social construct as well the effects it has in relation to social behavior [28]. A recent study has identified that individuals perceive FOF as an adverse risk and can be conceptualized as a negative emotion or feeling. ...
Fear of failure (FOF) has been reported as a construct that hinders individuals from achieving higher, working harder, and even moving from one stage of development to another. Studies indicated that university students with traits perfectionism tend to develop FOF, which prevented them for achieving better accomplishment in their academic life. In order to obtain further knowledge to curb FOF among this population, this study investigates which one of the three dimensions of perfectionism (self-oriented, other-oriented, socially prescribed) is the main predictor of FOF. 351 participants from the target population of 4,000 undergraduate students from UCSI University, Kuala Lumpur, Malaysia were recruited via convenience sampling to provide us with their data through a Google Form. Perfectionism dimensions were measured by the multidimensional perfectionism scale and fear of failure by the performance failure appraisal inventory. The collected data was analyzed via simple and multiple regression by multiple regression technique, and the findings showed that self-oriented and other-oriented perfectionism did not significantly predict the fear of failure. However, socially prescribed perfectionism was the only significant predictor of the fear of failure among the perfectionism model, therefore indicating that it was the most significantly predictor as well. In conclusion, students are more likely to be afraid to fail when they believe that there is a social standard of perfection that they have to follow.
... Attitude, a psychological concept encompassing positive or negative evaluations of specific objects or actions, is crucial in shaping individual behaviours, including within entrepreneurship (Cacciotti & Hayton, 2015). According to Ajzen, attitude comprises evaluations of objects that can manifest in positive or negative dimensions. ...
Purpose: This research examines Islamic Ethics Work, Hedonic Values, and Attitudes toward the Intention to Establish Sustainable Entrepreneurship. Design/methodology/approach: The research method used is quantitative with a conclusive research design. The primary data used is obtained through a questionnaire distributed on the internet, with the criteria of Muslim students. A total of 210 respondents were gathered. This study employs the SEM-PLS data analysis model. Findings: The results show that Islamic Ethics Work has a positive direct influence on Attitude, while Hedonic Values do not directly impact Attitude. Furthermore, the Islamic Ethics Work variable does not directly impact the Intention to Establish Sustainable Entrepreneurship. In contrast, Attitude has a positive influence, and Hedonic Values have a negative influence. Islamic Ethics Work positively influences the Intention to Establish Sustainable Entrepreneurship through Attitude. Meanwhile, Hedonic Values have little impact on the Intention to Establish Sustainable Entrepreneurship through Attitude. Research implications: The results of this study can have implications for developing entrepreneurship courses in higher education by incorporating Islamic Ethics Work to provide opportunities for students to adopt a sustainable entrepreneurship approach and reduce hedonism.
... This study employs content analysis to investigate disclosure determinants based on a review of the factors of social and environmental accounting studies. A well-defined multistep strategy (Ali et al., 2022;Monteiro, Cepêda, & Silva, 2022;Zahoor, Al-Tabbaa, Khan, & Wood, 2020) was used to accomplish this systematic literature review (Ali et al., 2022;Denyer, Tranfield, Buchanan, & Bryman, 2009;Polas, Tabash, Jahanshahi, & Schmitt, 2022;Sikder, Rana, & Polas, 2021;Suileek & Alshurafat, 2022) to ensure robustness and eliminate rigidness (Cacciotti & Hayton, 2015). The steps comprised (i) formulating the study questions, (ii) fixing the scope and boundaries, (iii) identifying, screening, and selecting the required articles, and iv) analyzing and synthesizing the findings. ...
Purpose: This study aims to synthesize a testable conceptual framework that illustrates the link between various factors and environmental accounting disclosure practices. Research methodology: A systematic review approach was used to examine publications published from 2001 to 2023. Only the referenced studies were employed as secondary data to identify the factors for synthesizing the conceptual framework. Results: Most publications were studies on emerging nations and showed an expanding trend in disclosures. The findings showed that firm size, profitability, leverage, industry type, and ownership are critical motivators of environmental accounting disclosure (EADs). Moreover, this study summarizes the intriguing concerns not addressed through a conceptual framework. This indicates a possible hypothetical link between these factors for future studies on EADs. Future reviews could boost firms' EADs to help society achieve clean and healthy environments. Originality: The two conceptual frameworks proposed in this study provide new insights into future research and management ramifications.
... During this process, the entrepreneurs need to deal with different fears of failure, such as the fear of losing a client, not being paid, not finishing the job on time, not being in control of the cash activity or simply not having the time to be with their loved ones. But, in fact, an entrepreneurial act cannot exist without uncertainty (Cacciotti & Hayton, 2015;Martinho, 2010;Van Praag, 1999). ...
The aim of this chapter is to delve into an in-depth analysis and comprehension of the social representations linked to the concept of entrepreneurship. These representations were gathered through the free association technique and involved a sample comprising 966 students from higher education institutions. To achieve this objective and thoroughly scrutinize the collected data, a dual software approach was employed. The Ensemble de Programmes Permettant L'Analyse des Evocations (EVOC) was utilized, alongside the Interface de R pour les Analyses Multidimensionnelles de Textes et de Questionnaires (IRaMuTeQ), which facilitated both graphic representation and enhanced visual interpretation. The outcomes of this investigation underscored that while “innovation” stands out as the pivotal concept underpinning entrepreneurship, a constellation of other pertinent notions also emerged. This suggests a multifaceted nature to the construct. Moreover, the study delves into its inherent limitations and provides valuable insights to guide prospective research endeavors in this domain.
... In other words, an organization's financial risk attitude reflects its willingness to make large and risky resource commitments. Cacciotti and Hayton (2015) discovered that cognitive and emotional factors influence financial risk attitudes. Some companies can accept more risk than others, and some can manage risk better than others; financial risk attitudes and risk management are influenced by attitudes towards uncertainty (KMMCB et al., 2019). ...
MSMEs play a vital role in global economic development, as well as being the key to most businesses and important contributors to job creation and economic development. However, amidst the uncertain business and economic situation, most MSMEs have to struggle to maintain their business performance. So efforts are needed from various parties to improve business performance in MSMEs. This research aims to test and analyze the influence of financial literacy levels on business performance, with financial access and financial risk attitudes as mediating variables. Sampling in this research used a purposive sampling technique among tofu processing industry players in Kediri City. The sample was determined using the Slovin method and a sample of 400 respondents was obtained. The method used in this research uses Structural Equation Model (SEM) Partial Least Square (PLS) analysis through the SmartPLS data processing program version 3. The results of this research show that all hypotheses are accepted. Financial literacy, access to finance and financial risk attitudes have a positive and significant effect on business performance. Financial access is able to mediate the relationship between financial literacy and financial risk attitudes, and financial risk attitudes are also able to mediate the relationship between financial literacy and business performance in the Kediri City tofu processing industry.
... Overconfidence is understood as an overestimation of one's own ability to make accurate forecasts or as an overestimation of one's own ability relative to others (Koellinger et al., 2007, p. 505). Entrepreneurial confidence captures individuals' perceptions about specific skills they have relevant to business venturing (Koellinger, 2008) and individuals' fear of failure (Cacciotti & Hayton, 2015;Bosma et al., 2008). According to Koellinger (2008), a high degree of self-confidence is related to entrepreneurial innovativeness and survival; it is also related to gauge one's capabilities when considering exploiting an opportunity (Al Issa, 2022). ...
This study examines re-entry entrepreneurs’ response to exogenous shakeouts (economic crises). Concretely, we analyse how prior business failure experience contributes to the creation of an entrepreneurial resilience identity, through entrepreneurial persistence, during/after the Global Financial Crisis (GFC). Using data from 24 European countries from 2007 to 2014, our analysis shows that, while experiencing business failure can be challenging both personally and professionally, it also provides a tailored form of learning applicable in these challenging times. If entrepreneurs are confident and persistent, they may take advantage of failure experience, thus leading to entrepreneurial resilience, especially if they are re-entering via high-tech sectors. Our results contribute to the entrepreneurship literature by exposing the factors that increase entrepreneurial resilience and support entrepreneurial persistence. These insights may lead to the development of a resilient economy capable of overcoming the pandemic’s recessionary impact. Several implications for policymakers and entrepreneurs emerged from this study.
Program Merdeka Belajar – Kampus Merdeka (MBKM) dirancang untuk menyiapkan mahasiswa yang mampu merancang strategi guna mendapat gambaran masa depan yang jelas. Namun, tantangan serta kewajiban yang harus dipenuhi oleh peserta MBKM setelah menyelesaikan program tersebut berpotensi menimbulkan fear of failure. Penelitian ini bertujuan untuk mengetahui hubungan antara future time perspective dengan fear of failure pada peserta MBKM. Teknik penentuan sampel menggunakan purposive sampling . Pada penelitian ini didapatkan 108 responden. Hasil penelitian menunjukkan r=-261 dan p=0.006 (p<0.05). Arah hubungan yang negatif ini berarti semakin tinggi tingkat future time perspective peserta MBKM, maka akan semakin rendah tingkat fear of failure yang ada. Hal ini disebabkan karena mahasiswa yang memiliki tingkat future time perspective yang tinggi mampu membuat rencana untuk keadaan darurat, menemukan strategi terbaik dalam mencapai sesuatu, serta memusatkan perhatian pada langkah yang harus diambil dalam mencapai tujuan demi menghindari kegagalan. Oleh karena itu, penting bagi instansi mitra serta kampus untuk melakukan pendampingan pada peserta MBKM guna menurunkan fear of failure .
Purpose
In this era of rapid technological advancement, Artificial Intelligence (AI) has emerged as a crucial factor in reshaping organisational dynamics, notably in the realm of leadership. This systematic literature review (SLR) aims to investigate the emerging relationship between AI and leadership, focussing on defining AI-powered leadership, identifying prevalent themes, exploring challenges, and uncovering research gaps within the relevant literature.
Design/methodology/approach
A sample of 73 papers was chosen after carefully applying the inclusion and exclusion criteria to 1,387 research articles that were initially sought. Using the methodological framework presented by Denyer and Tranfield (2009), our study adopted a four-step procedure to obtain insights from the corpus of literature. The papers were analysed by employing content and thematic analysis to address four key questions.
Findings
The review explores various definitions of AI-powered leadership proposed in the literature based on real-world situations. The study further synthesises significant themes in the existing literature, such as the past, present and future of AI and AI in various facets of organisational leadership, transitional management, and urban management. The review revealed a range of key challenges in AI-powered leadership, including ethical dilemmas, complications in human-AI interactions, hurdles in AI implementation within leadership contexts, and long-term risks associated with AI integration. In addition, this study identified areas within AI-powered leadership research that require further investigation by revealing significant research gaps in the papers.
Originality/value
By adopting a comprehensive approach, this research advances understanding of the complex relationship between AI and leadership dynamics, thus facilitating comprehension of the current body of knowledge and enabling future scholarly investigations in the AI-powered leadership domain.
Purpose
The COVID-19 pandemic severely affected business and entrepreneurship activities worldwide. This study aims to investigate the factors influencing entrepreneurship development in an emerging economy’s small- and medium-sized enterprises (SMEs).
Design/methodology/approach
The researchers applied a quantitative approach to this study, which used cross-sectional data as the basis of its findings. The researchers used a questionnaire to obtain responses from general managers in the Kingdom of Saudi Arabia’s (KSA) manufacturing industries.
Findings
Using structural equation modeling, the findings of the study suggest that, on the one hand, the fear of the COVID-19 pandemic and perceptions about its arrival had a negative impact on entrepreneurship development. On the other hand, stress and anxiety had no significant effect on entrepreneurship development.
Practical implications
This study’s findings guide policymakers, KSA’s government agents and industry owners to adopt preventive measures to limit fear, stress and anxiety associated with the expected complications of the COVID-19 pandemic. The findings also offer better solutions to controlling severe disturbances to the economic and social entrepreneurship of vulnerable startup companies, various SMEs and large-scale companies.
Originality/value
This study’s results reveal the severe complications of the COVID-19 pandemic and its remarkably devastating impact on entrepreneurship development.
Entrepreneurship among youth is crucial for economic growth and innovation, particularly in emerging economies like the UAE. Despite government support and favorable conditions for small and medium-sized enterprises (SMEs), there remains a significant lack of entrepreneurial intention among UAE youth. This paper proposes a conceptual model to investigate how institutional contexts influence entrepreneurial intentions among UAE youth, with a focus on the mediating role of entrepreneurial self-efficacy and the moderating role of entrepreneurship education. Drawing upon existing literature, the study integrates theories such as the theory of planned behavior and institutional theory to develop the conceptual model. The model posits that institutional factors, including regulatory, normative, and cognitive environments, influence entrepreneurial intentions among youth. Additionally, entrepreneurial self-efficacy is proposed as a mediator between institutional contexts and entrepreneurial intentions, while entrepreneurship education is suggested to moderate the relationship between entrepreneurial self-efficacy and intentions. The conceptual model presented in this paper contributes to the understanding of the multifaceted determinants of entrepreneurial behavior among UAE youth. By elucidating the interplay between institutional contexts, self-efficacy, and education, the study offers valuable insights for policymakers, educators, and stakeholders aiming to foster a conducive environment for entrepreneurship in the UAE and beyond.
Research on the dark side of competitive climate is still in nascent stages. Drawing on the conservation of resource theory, we have contributed in the existing literature by examining the negative effects of competitive climate on employee silence behavior such as quiescent silence. We further propose that fear of failure acts as an underlying mechanism between competitive climate and quiescent silence. The research also examines the moderating effect of challenge avoidance in relationship between competitive climate and fear of failure. Data was collected in three waves of time from 300 employees of service sector organizations of Pakistan through personally administered questionnaires by using Hayes’ Process Macro. The results of the study indicated the direct relationship between competitive climate and quiescent silence. Furthermore, results revealed that fear of failure mediates this relationship. Results also confirmed that challenge avoidance moderates the relationship between competitive climate and fear of failure. The findings have important implications for the service sector organizations which have been discussed at the end along with limitations and future research directions.
Purpose
The affordable loss (AL) heuristic, as one crucial sub-dimension of effectuation, delineates the maximum level of investment entrepreneurs are ready to lose in a worst-case scenario. Conflicting conceptualizations remain regarding whether entrepreneurs’ psychological traits matter for AL. Based on the narcissistic admiration and narcissistic rivalry perspective, this study investigates the relationship between chief executive officer (CEO) narcissism and AL behaviors.
Design/methodology/approach
Using data collected from the CEOs and paired vice presidents at 122 small and medium enterprises (SMEs) in mainland China, the authors intend to further explore the association between psychological traits, especially CEO narcissism and AL behaviors under environment and resource constraints (e.g. perceived uncertainty and slack resources).
Findings
The findings show that CEO admiration-based narcissism is positively related to AL behaviors in the firm. Furthermore, when firms hold more slack resources, narcissistic admiration has a stronger positive association with AL; while when the environment becomes more uncertain, narcissistic admiration has a weaker positive association with AL. In contrast, CEO rivalry-based narcissism is negatively related to AL behaviors in the firm. When the environment becomes more uncertain, narcissistic rivalry has a stronger negative association with AL.
Originality/value
This article contributes to trait-based effectuation research and suggests that individual psychological traits affect AL behaviors at the firm level, though the patterns of the relationship vary with both the type of narcissism and contexts.
This paper seeks to study factors influencing the early stages of entrepreneurship within the context of coronavirus pandemic, specifically within an emerging country. We utilize from a unique dataset collected by Global Entrepreneurship Monitor which is the sole global research repository compiling data on entrepreneurial activities and individual entrepreneurial attributes across 50 countries worldwide. In particular, this study focuses on the GEM survey data pertaining to Turkey during the period coinciding with the COVID-19 pandemic in the year 2021. The analysis is done by binary logistic regression with dependent variable being total entrepreneurship activity. Findings indicate that opportunity-driven respondents, with high-status aspirations, possessing necessary skills and acknowledging the challenges of their entrepreneurial environment, are the ones who show a higher probability of engaging in entrepreneurial activities. While these variables have been scrutinized in existing literature, our contribution lies in examining their effects within an emerging market, a relatively understudied context, particularly in the aftermath of a global pandemic. Results suggest that the individuals reporting a substantial increase in income during the pandemic, and perceiving a harder business environment to start a new venture show elevated probabilities of becoming an entrepreneur. These two are the pandemic-related variables demonstrating statistical significance, which highlights the fact that this period created its entrepreneurs, who exploit high resilience and dynamic capacity to adapt to crisis times. They experienced a significant increase in their income, capitalized on their comparative advantage in entrepreneurial skills within an environment where starting a business is not easy and took advantage of the opportunities seeking for high status using their adaptive capacity. These findings are consistent with Theories of Resilience and Dynamic Capabilities. Finally, younger respondents are more inclined to engage in entrepreneurial activity, which is consistent with the existing literature. In light of these findings, policymakers are encouraged to invest in educational programs for potential entrepreneurs to enhance their self-efficacy, given that the necessary skills for business initiation emerge as a pivotal factor for engaging in entrepreneurial activities. Moreover, creating platforms for successful entrepreneurs to share their experiences could amplify the perceived prestige associated with entrepreneurship, which may attract potential entrepreneurs.
Purpose
The multiple goals make social enterprises vulnerable to mission drift, which hurts the sustainability of these hybrid organizations. As initiators, the relationship between social entrepreneurs and the mission drift of social enterprises needs to be further explored. This study aims to explore how entrepreneurs’ education and age impact social enterprise mission drift and examine the potential moderating effects of social enterprise legitimacy.
Design/methodology/approach
This study uses the Global Entrepreneurship Monitor data set to obtain the required samples, and further regression analysis is used to test the hypotheses.
Findings
The results showed that the more educated the entrepreneur, the lower the social enterprise mission drift. There is an inverted U-shaped relationship between social entrepreneurs’ age and mission drift. Finally, the inverted U-shaped relationship between age and mission drift was more pronounced in contexts with lower social enterprise legitimacy than high legitimacy levels.
Originality/value
This study highlights the significance of founders’ characteristics on the mission robustness of the social enterprises they create. At the same time, the role of social enterprise legitimacy is demonstrated in the context of this study. The findings of this research have implications for social entrepreneurs, social enterprises and policymakers.
Identifying effective Beliefs on the Ideation Process of Novice Entrepreneurs The beliefs related to entrepreneurial ideation play a fundamental role in individuals' motivation process, filtering new ideas, and determining their life paths; therefor, this research aims to identify the beliefs which have an effect on the novice entrepreneurs' ideation process using a qualitative approach with a case study method. The data was collected through interviews and then analyzed with content analysis method, using a three-step coding process. The study population consisted of novice entrepreneurs in Tehran, within which 16 individuals were selected through purposive sampling. Those 16 individuals went through in-depth and semi-structural interviews until theoretical saturation was reached. Analyzing the interviews resulted in the identification of 69 concepts categorized into 14 themes based on semantic proximity. The research demonstrates the beliefs and mental obstacles faced by the studied entrepreneurs from the beginning of the ideation process to its execution. The findings indicate that in the step of ideation emergence beliefs, such as creativity, perfectionism, and future orientation hinder the ideation process. In the prerequisite ideation execution step, optimism, future thinking, affiliation, self worthing, ambiguity tolerance, identity, self-confidence, and success orientation hinder the entrepreneurial ideation. In the third step which is the execution of the idea; future orientation, hope, self-efficacy, and agency create a mental barrier. Overall, categorizing belief limitations based on entrepreneurial idea generation steps could have a significant effect on improving these limitations. Comparing these beliefs with studies conducted in the past and fundamental theory, the core beliefs which should change in the idea generation process have been determined.
Pendidikan berperan penting dalam meningkatkan kualitas Sumber Daya Manusia Indonesia tetapi beberapa individu terkendala biaya. Pemerintah kemudian menyiapkan beasiswa Bidikmisi yang diperuntukkan bagi mahasiswa yang mampu secara akademik tetapi memiliki keterbatasan ekonomi. Mahasiswa Bidikmisi wajib memiliki IPK minimal 3,00 tetapi masih banyak mahasiswa Bidikmisi memiliki IPK 3,00 karena melakukan prokrastinasi dalam penyelesaian tugas. Salah satu penyebab individu melakukan prokastinasi adalah adanya ketakutan akan kegagalan yang merupakan perasaan terancam menghadapi keadaan yang memungkinkan terjadinya kegagalan. Penelitian ini bertujuan mengetahui hubungan ketakutan akan kegagalan dengan prokrastinasi pada mahasiswa Bidikmisi. Penelitian ini menggunakan pendekatan kuantitatif dengan teknik penarikan sampel purposive sehingga diperoleh sampel sebanyak 233 mahasiswa Bidikmisi yang memiliki IPK 3,00. Pengumpulan data menggunakan adaptasi Tuckman Procrastination Scale dan adaptasi The Performance Failure of Appraisal Inventory. Hasil analisis data menggunakan teknik korelasi Pearson Product Moment menunjukkan nilai (r)=0,288 dengan nilai (p)=0,000 (p 0,05). Hal ini menunjukkan bahwa terdapat hubungan antara ketakutan akan kegagalan dengan prokrastinasi pada mahasiswa Bidikmisi. Artinya, semakin tinggi ketakutan akan kegagalan maka semakin tinggi prokrastinasi, begitu juga sebaliknya. Ketakutan akan kegagalan yang muncul diakibatkan mahasiswa Bidikmisi kurang yakin akan kemampuan diri dan menghindari penilaian negatif dari orang lain sehingga melakukan prokrastinasi. Education plays an important role in improving Indonesia's human resources, but some individuals are constrained by costs. The government provides Bidikmisi scholarship for students who are academically capable but have economic limitations. Bidikmisi students are required to have a minimum GPA of 3.00, but there are still many Bidikmisi students who have a GPA 3.00 because they procrastinate in completing their assignments. One of the causes of individuals committing procastination is the fear of failure, which is a feeling of being threatened by facing circumstances that allow failure to occur. The purpose of this study was to determine the relationship between fear of failure and procrastination in Bidikmisi students. This study uses a quantitative approach with pusposive sampling technique therefore 233 Bidikmisi students who have a GPA 3.00 were selected. Data collection uses the adaptation of the Tuckman Procrastination Scale and the adaptation of The Performance Failure of Appraisal Inventory. The results of data analysis using the Pearson Product Moment Correlation shows the value of the correlation coefficient (r)=0.288 with a significance value (p)=0.000 (p 0.05). This shows that there is a relationship between fear of failure and procrastination in Bidikmisi students. That is, the higher the fear of failure, the higher the procrastination, and vice versa. The fear of failure that arises is caused by Bidikmisi students not being confident in their own abilities and avoiding negative judgments from other people, resulting in procrastination.
Enacting a corporate entrepreneurial role requires cognitive, behavioral, and emotional qualities. While scholarly work has focused on the cognitive and behavioral aspects of this role, its emotional aspect—how corporate entrepreneurs feel when enacting their role—remains relatively unexplored. Our qualitative study reveals the corporate entrepreneurial role as a source of liabilities and assets for the role incumbents’ work-related identity, which are brought to light as these employees emotionally experience their role. In addition, we elucidate how contextual elements shape this experience, and how corporate entrepreneurs use emotions to work around the detrimental and beneficial effects of their role enactment.
Vulnerability researchers face difficult choices when considering whether to reporting a finding to an organization with which they are unaffiliated. We used components of Protection Motivation Theory (PMT) to create the Vulnerability Discovery and Disclosure (VDD) model to understand the decision-making processes of vulnerability researchers. PMT uses high fear appeals, threat appraisals, and coping appraisals to encourage employee prosocial behaviors while VDD proposes low fear and threat with high coping, to encourage reporting. In this exploratory study, we surveyed active vulnerability researchers to gain insight into their concerns when deciding to report to an organization. Using principal components analysis, we developed and refined the VDD survey, which may be tested by future researchers. We also discovered a higher-order efficacy construct, comprised of response and self-efficacy. We theorize that well-developed vulnerability disclosure policies, in line with a low-fear, low-threat appraisal and high efficacy may establish a culture of trust between organizations and vulnerability researchers, encouraging more reports.
Introduction
Nowadays, entrepreneurship is considered as one of the most crucial topics and the main driving force in the economic development of the countries. The purpose of the current research was to design and test a model of the antecedents of students' entrepreneurial behavior intention with the mediation role of perceived fear and the moderating role of gender.
Method
The present research was a descriptive correlational study. The statistical population of the research included all undergraduate and graduate students of Shahid Chamran University of Ahvaz, and due to the difficulty of accessing all of them, 367 students were selected through convenience sampling method. For data collection, the Entrepreneurial Inspiration (Souitaris et al., 2007), the Entrepreneurial Mindset (Cui et al., 2021), the Entrepreneurial Intention (Valliere, 2015), and the Perceived Fear Questionnaires (Deniz et al., 2011& Collins, 2007) were used.
Results
The results of research data analysis through structural equation modeling in SmartPLS software showed that entrepreneurial inspiration has a significant positive effect on entrepreneurial
thinking (0.634) and on entrepreneurial behavior intention (0.145). Also, entrepreneurial thinking has a significant negative effect on perceived fear (-0.693) and a significant positive effect on entrepreneurial behavior intention (0.397), and perceived fear has a significant negative effect on entrepreneurial behavior intention (-0.326). in addition, the value of the coefficient of determination showed that about 60% of the variance of entrepreneurial behavior intention is explained through entrepreneurial inspiration, mindset, and perceived fear. The results of investigating indirect hypotheses showed that the relationship between entrepreneurial mindset and entrepreneurial behavior intention through perceived fear is significant, but the relationship between entrepreneurial inspiration and entrepreneurial behavior intention through perceived fear is not significant. In addition, gender moderates the effect of perceived fear on entrepreneurial behavior intention.
Literature maintains that doctoral writing is both the channel used by students to communicate their ideas and also the primary evidence on which their degree is awarded. Despite the integral role played by such writing, there is fairly limited knowledge about the development of doctoral students’ writing skills or the associated roles of the supervisor. Institutions of higher education are expected to ensure high postgraduate student completion rates, and often make efforts to support doctoral writing of students by offering academic writing courses. However, the assumption that the supervisor can necessarily provide appropriate feedback and feedforward for writing needs to be addressed. Evidently most doctoral students require encouragement and support to develop confidence in writing. Feedback is one principal pedagogy through which students learn writing skills. Furthermore, receiving and giving feedback involves emotions which if not well handled may become a barrier to learning. This chapter evaluates the evidence around the supervisor’s role in encouraging doctoral candidates to write, especially through written feedback, and discusses the implications of receiving/giving inappropriate feedback. It draws from theories of the pedagogy of feedback supplemented by reflective accounts of supervisors and their experiences of giving/receiving feedback on written doctoral work.
To make better integration of curriculum thinking education and undergraduate college innovation and entrepreneurship education, this paper takes the data of resources related to curriculum thinking education and undergraduate college innovation and entrepreneurship education, inputs them into a multi-sensor information fusion based on Bayesian estimation, calibrates the data and eliminates invalid data. The optimal fusion number is determined by calculating the confidence distance measure of the sensor readings. Build a web-based teaching collaboration platform based on information fusion. To verify that the built teaching collaboration platform can integrate resources such as teaching contents and teaching objectives of both, thus achieving educational reform. The simulation results show that the number of students who choose to start their own business is 1,150 more than those who do not use the platform, and the success rate of starting a business is 36% higher than those who do not use the platform when the web-based teaching collaboration platform is used to educate students on curriculum thinking and politics and innovation and entrepreneurship in undergraduate colleges and universities. From the above results, it is clear that the built platform can promote the cultivation of innovative talents in undergraduate colleges and universities.
Nowadays, entrepreneurship is considered as an effective strategy and a milestone in multi-lateral development of
countries. Preparing backgrounds for developing entrepreneurship requires presenting entrepreneurial teachings
and skills on one hand and necessitates understanding and removing its obstacles and challenges as well as
establishing appropriate backgrounds for developing entrepreneurial trade on the other hand. In this paper, the
viewpoints of those researchers who had participated in National Conference on Entrepreneurship Management
and Regional Development (Ilam University, 2009) had been analyzed and interpreted in comparison with legal
and motivational obstacles and barriers effective on the development of entrepreneurship by making use of survey
method and questionnaire as well. The results show that according to the researchers’ viewpoint, the legal and
motivational factors had terminated the development of entrepreneurship in Iran. Moreover, financial risk factor
and the fear aroused from inability in management of the business were the first and last factors among
motivational factors. In addition, the bank regulations and laws factor (banking interest rate, the required
documents and conditions for receiving banking facilities) and the environmental rules and regulations were the
first and last legal factors effective and influential in the failure of entrepreneurship development in Iran. Generally,
entrepreneurship researchers are of opinion that the motivational factors are more important than legal factors in
the failure of entrepreneurship development in Iran.
A modification of the procedure originally used by Davidson, Suppes, and Siegel (1956) to measure subjective utility was used to study the influence of positive affect on individuals' perceived value (utility) functions. Results indicated, as expected, that persons in whom positive affect had been induced showed a more negative subjective utility for losses than did controls. This indicates that losses seem worse to people who are feeling happy than to those in a control condition. The subjective utility functions of the two groups did not differ as much, however, when people were considering potential gain. Thus, at least in the situation tested in this study, potential gains did not seem to be more appealing (nor less so) for affect subjects than they did for controls. These findings are discussed in relation to theoretical issues in decision making and work suggesting that positive affect can promote increased sensitivity to losses in situations of potential meaningful loss.
There has long been interest in describing emotional experience in terms of underlying dimensions, but traditionally only two dimensions, pleasantness and arousal, have been reliably found. The reasons for these findings are reviewed, and integrating this review with two recent theories of emotions (Roseman, 1984; Scherer, 1982), we propose eight cognitive appraisal dimensions to differentiate emotional experience. In an investigation of this model, subjects recalled past experiences associated with each of 15 emotions, and rated them along the proposed dimensions. Six orthogonal dimensions, pleasantness, anticipated effort, certainty, attentional activity, self-other responsibility/control, and situational control, were recovered, and the emotions varied systematically along each of these dimensions, indicating a strong relation between the appraisal of one’s circumstances and one’s emotional state. The patterns of appraisal for the different emotions, and the role of each of the dimensions in differentiating emotional experience are discussed.
The purpose of this paper is to develop an econometric model of entrepreneurship which would
enable to identify the factors that influence transitions into self-employment at the regional level in
Tunisia.
The particular contribution of this paper is to combine regional and individual characteristics and
analyze if entrepreneurship in the region affects entry into self-employment.
A particular attention is paid to individual background with effects depending on the regional context
in Tunisia such as entrepreneurial human capital and labour force characteristics. Even though some
of these factors have been the subject of several entrepreneurship studies, it is still difficult to identify
which one impact significantly the decision to create a new enterprise.
As an illustration, the model is estimated using a data provided by the National Tunisian Global
Entrepreneurship Monitor (GEM) 2010 Project, based on the analysis of a sample of 1966 cases.
The main findings of the study show that “knowing someone personally who started a business in the
past 2 years” and “presence of good opportunities for starting a business” increase significantly the
probability to create a new venture. In addition, we have found that the interaction between these two
factors has a positive influence. However, “fear of failure” influences negatively the decision to start
up. Finally, some fixed region-specific factors notably the average real wage of a region must be
accounted for when estimating regional self-employment relationships.
We discuss the implications of our results for policy-makers with useful information in designing and
implementing policies to promote enterprise development.
Although failure in entrepreneurship is pervasive, theory often reflects an equally pervasive antifailure bias. Here, I use real options reasoning to develop a more balanced perspective on the role of entrepreneurial failure in wealth creation, which emphasizes managing uncertainty by pursuing high-variance outcomes but investing only if conditions are favorable. This can increase profit potential while containing costs. I also offer propositions that suggest how gains from entrepreneurship may be maximized and losses mitigated.
This paper challenges the prevalent notion that family-owned firms are more risk averse than publicly owned firms. Using behavioral theory, we argue that for family firms, the primary reference point is the loss of their socioemotional wealth, and to avoid those losses, family firms are willing to accept a significant risk to their performance; yet at the same time, they avoid risky business decisions that might aggravate that risk. Thus, we propose that the predictions of behavioral theory differ depending on family ownership. We confirm our hypotheses using a population of 1,237 family-owned olive oil mills in Southern Spain who faced the choice during a 54-year period of becoming a member of a cooperative, a decision associated with loss of family control but lower business risk, or remaining independent, which preserves the family's socioemotional wealth but greatly increases its performance hazard. As shown in this study, family firms may be risk willing and risk averse at the same time.
Understanding the factors that promote or mitigate transitions into self-employment is crucial to regional economic development efforts, while the number of new business created play a significant role to regional economic vitality and represent a major signal of a dynamic economy. We use a new measure of firm formation based on the combination between individual background with effects depending on the regional context in Tunisia such as entrepreneurial human capital and labour force characteristics. Even though some of these factors have been the subject of several entrepreneurship studies, it is still difficult to identify which one impact significantly the decision to create a new firm. As an illustration, the model is estimated using a data provided by the National Tunisian Global Entrepreneurship Monitor (GEM) 2010 Project, based on the analysis of a sample of 1966 cases. The main findings of the study show that " competencies " measured by the two variables " knowing someone personally who started a business in the past 2 years " and " presence of good opportunities for starting a business " increase significantly the probability to create a new venture. In addition, we have found that the interaction between these two factors has a positive influence. However, " fear of failure " influences negatively the decision to start up. Finally, some fixed region-specific factors notably the average real wage of a region must be accounted for when estimating regional self-employment relationships. We discuss the implications of our results for policy-makers with useful information in designing and implementing policies to promote enterprise development.
Nowadays, entrepreneurship is considered as an effective strategy and a milestone in multi-lateral development ofcountries. Preparing backgrounds for developing entrepreneurship requires presenting entrepreneurial teachingsand skills on one hand and necessitates understanding and removing its obstacles and challenges as well asestablishing appropriate backgrounds for developing entrepreneurial trade on the other hand. In this paper, theviewpoints of those researchers who had participated in National Conference on Entrepreneurship Managementand Regional Development (Ilam University, 2009) had been analyzed and interpreted in comparison with legaland motivational obstacles and barriers effective on the development of entrepreneurship by making use of surveymethod and questionnaire as well. The results show that according to the researchers’ viewpoint, the legal andmotivational factors had terminated the development of entrepreneurship in Iran. Moreover, financial risk factorand the fear aroused from inability in management of the business were the first and last factors amongmotivational factors. In addition, the bank regulations and laws factor (banking interest rate, the requireddocuments and conditions for receiving banking facilities) and the environmental rules and regulations were thefirst and last legal factors effective and influential in the failure of entrepreneurship development in Iran. Generally,entrepreneurship researchers are of opinion that the motivational factors are more important than legal factors inthe failure of entrepreneurship development in Iran.
This study adopts the push-entrepreneurship perspective and develops a conceptual framework grounded in prospect theory, in order to investigate whether source of sunemployment, layoff in particular, and duration of unemployment stimulate entrepreneurial intent. We also propose that fear of failure and risk propensity moderate the source/duration–entrepreneurial intent relationships. We test our hypotheses using survey data from a sample of unemployed individuals. Results show that both layoff and duration of unemployment are stimuli for higher entrepreneurial intent, and the source of unemployment-intent relationship is moderated by fear of failure and risk propensity. We discuss the implications of these results.
In this chapter, the authors begin with a thorough review of past entrepreneurship personality research. The authors recall the early dominance and eventual decline of personality research in entrepreneurship, but they point to renewed interest. The authors blame the decline in research interest on poor results from studies that were based on scant theory and flawed methodologies. Nine reasons for the current rebirth in interest in personality effects in entrepreneurship are offered, including prescriptions for better methodologies. Drawing on the meta-analyses and Rauch and Frese, they offer a research model to guide entrepreneurs' personality research. It includes KSAs (knowledge, skill, and ability), broad and specific traits, and action strategies, as well as environmental controls. "Old and new" personality traits are reviewed and considered in light of the entrepreneur's environment. Rauch and Frese conclude that there are small to moderate relationships between personality (high need for achievement, risk propensity, passion, innovativeness, autonomy, locus of control, and self-efficacy) and successful entrepreneurship and suggest that those who called for the end of doing research on personality traits for lack of important relationships are clearly wrong. Rauch and Frese strongly encourage Industrial & Organizational (I/O) psychology researchers to (a) use differentiating hypotheses for general vs. specific personality traits and (b) match the focus of independent and dependent variables. Further, they suggest that (c) interaction should be utilized to better explain the relation between personality and entrepreneurship outcomes. The research model presented captures a whole set of research questions, including the authors' call for better personality theory and for research that included mediation and interaction. Research questions such as "Do the Big Five personality traits matter for entrepreneurship success?" and "Do midlevel theories and interactional models offer better explanations of personality trait effects?" are embedded in the model.
We use data from the Global Entrepreneurship Monitor and the Global Leadership and Organizational Behavior Effectiveness study for 42 countries to investigate how the effects of individual's self-efficacy and of fear of failure on entrepreneurial entry are contingent on national cultural practices. Using multi-level methodology, we observe that the positive effect of self-efficacy on entry is moderated by the cultural practices of institutional collectivism and performance orientation. Conversely, the negative effect of fear of failure on entry is moderated by the cultural practices of institutional collectivism and uncertainty avoidance. We discuss the implications for theory and methodological development in culture and entrepreneurship.
We examine a tenuous and intriguing suggestion emerging from qualitative research into passion that entrepreneurs experience venture-related obsession. Responding to this observation, we develop an understanding of obsession in entrepreneurship and clinical and non-clinical populations. We propose that entrepreneurs may experience venture-related obsessions that are similar to obsession as described in the clinical literature and develop a model of entrepreneurial obsession. We suggest that obsession may have a relationship with passion and contribute productively towards desirable entrepreneurial outcomes despite its potential to stimulate negative affect or anxiety. Further research is warranted to explore and define this construct.
Project failures are common. We theorized and found that although time heals wounds (reduces the negative emotions from project failure), it heals differently depending on the strength of individuals' specific coping orientations. Further, wounds are shallower for those who perceive that their organization normalizes failure. We conjointly consider learning from failure and affective commitment to an organization as determining how individuals move forward from project failure. Findings suggest that studies framing moving forward solely as learning from failure will likely overstate the benefits of a "loss orientation" and understate the benefits of both a "restoration" and an "oscillation orientation."
We study how an individual’s exposure to external information regulates the evaluation of entrepreneurial opportunities and entrepreneurial action. Combining data from interviews, a survey, and a comprehensive web log of an online user community spanning eight years, we find that technical information shaped opportunity evaluation, and social information about user needs drove individuals to entrepreneurial action. Our empirical findings suggest that reducing demand uncertainty is a central factor regulating of entrepreneurial action, an insight that received theories of entrepreneurial action have so far overlooked.
A classic distinction in the literature on achievement and motivation is between fear of failure and success orientations. From the perspective of self-worth theory, these motives are not bipolar constructs but dimensions that interact in ways that make some students particularly vulnerable to underachievement and disengagement from school. The current study employs the quadripolar model of need achievement (Covington, 1992; Covington & Omelich, 1988) to explore how these approach and avoidance orientations are related to self-handicapping, defensive pessimism, and helplessness in Eastern and Western settings. Although there have been numerous calls for research of this kind across cultures (Elliott & Bempechat, 2002; Jose & Kilburg, 2007; Pintrich, 2003), little exists in the field to date. In Study 1, with 1,423 Japanese high school students, helplessness and self-handicapping were found to be highest when students were low in success orientation and high in fear of failure. These findings were replicated in Study 2 with 643 Australian students and extended to measures of truancy, disengagement, and self-reported academic achievement. Consistent with self-worth theory, success orientation largely moderated the relationship between fear of failure and academic engagement in both cultures. These results suggest that in the absence of firm achievement goals, fear of failure is associated with a range of maladaptive self-protective strategies. The current project thus represents a unique application of self-worth theory to achievement dynamics and clarifies substantive issues relevant to self-handicapping and disengagement across cultures.
By considering the amount of uncertainty perceived and the willingness to bear uncertainty concomitantly, we provide a more complete conceptual model of entre- preneurial action that allows for examination of entrepreneurial action at the indi- vidual level of analysis while remaining consistent with a rich legacy of system-level theories of the entrepreneur. Our model not only exposes limitations of existing theories of entrepreneurial action but also contributes to a deeper understanding of important conceptual issues, such as the nature of opportunity and the potential for philosophical reconciliation among entrepreneurship scholars.
ABSTRACT Previous research indicates that entrepreneurs are generally high in dispositional optimism—the tendency to expect positive outcomes,even when such expectations are not rationally justified. The present research investigates the effects of such optimism and finds that in general, there is a negative relationship between entrepreneurs’ optimism and the performance (i.e., revenue and employment growth) of their new ventures. These effects, however, are moderated by past experience in creating new ventures and industry dynamism, such that the negative relationship between entrepreneurs’ optimism,and new venture performance,is stronger for experienced than inexperienced entrepreneurs, and stronger in dynamic than in stable environments. These findings indicate that the effects of entrepreneurs’ optimism on new venture performance,are contingent on key behavioral and environmental variables. In this
Where there is uncertainty, there is bound to be failure. It is not surprising therefore, that many new ventures fail. What happens to entrepreneurs when their business fails? We hear of highly successful entrepreneurs extolling the virtues of failure as a valuable teacher. Yet, the aftermath of failure is often fraught with psychological, social and financial turmoil. The purpose of this article is to review research on life after business failure for entrepreneurs, from the immediate aftermath through to recovery and re-emergence. First, we examine the financial, social and psychological costs of failure, highlighting factors that may influence the magnitude of these costs (including individual responses to managing these costs). Second, we review research that explains how entrepreneurs make sense of and learn from failure. Finally, we present research on the outcomes of business failure, including recovery as well as cognitive and behavioral outcomes. We develop a schema to organize extant work and use this as a platform for developing an agenda for future research.
Where there is uncertainty, there is bound to be failure. It is not surprising therefore, that many new ventures fail. What happens to entrepreneurs when their business fails? We hear of highly successful entrepreneurs extolling the virtues of failure as a valuable teacher. Yet, the aftermath of failure is often fraught with psychological, social and financial turmoil. The purpose of this article is to review research on life after business failure for entrepreneurs, from the immediate aftermath through to recovery and re-emergence. First, we examine the financial, social and psychological costs of failure, highlighting factors that may influence the magnitude of these costs (including individual responses to managing these costs). Second, we review research that explains how entrepreneurs make sense of and learn from failure. Finally, we present research on the outcomes of business failure, including recovery as well as cognitive and behavioral outcomes. We develop a schema to organize extant work and use this as a platform for developing an agenda for future research.
The changing nature of work suggests that young people may face the prospect of a “portfolio” career including periods of paid employment, nonwork and selfemployment, of which the latter implies greater scope for entrepreneurial activity. Reports questionnaire surveys of young adults which examine their attitudes to entrepreneurship as a career. Reference is also made to current policy initiatives and entrepreneurship education in the UK. The findings suggest that generally positive images of entrepreneurship are hampered by a lack of identifiable role models, poor media presentation of individuals or small firms, and lack of encouragement from important influencers on career choice such as teachers and career guidance specialists. University courses have their limitations but can have a role in providing a useful insight into the challenges involved in being an entrepreneur and also encouraging skill development and selfreliance.
This study tested three main effects: (1) the effect of job stressors (role conflict, role ambiguity, role overload, and role insufficiency) on strain (depression, anxiety, cognitive disturbance, and anger); (2) the effects of locus of control and social support on job stress and strain; and (3) the moderating (interaction) effects of locus of control and social support on the relationship between stress and strain. These relationships were tested with questionnaire data from two random samples of 238 entrepreneurs and 288 managers. Results from a multivariate analysis of variance showed that the entrepreneurs and managers differed significantly on stress, locus of control, and social support. Results from hierarchical regression analyses, after controlling for the demographic variables, found support for all ten main effects and one of the four moderating effects.
1. Introduction The study of emotion Types of evidence for theories of emotion Some goals for a cognitive theory of emotion 2. Structure of the theory The organisation of emotion types Basic emotions Some implications of the emotions-as-valenced-reactions claim 3. The cognitive psychology of appraisal The appraisal structure Central intensity variables 4. The intensity of emotions Global variables Local variables Variable-values, variable-weights, and emotion thresholds 5. Reactions to events: I. The well-being emotions Loss emotions and fine-grained analyses The fortunes-of-others emotions Self-pity and related states 6. Reactions to events: II. The prospect-based emotions Shock and pleasant surprise Some interrelationships between prospect-based emotions Suspense, resignation, hopelessness, and other related states 7. Reactions to agents The attribution emotions Gratitude, anger, and some other compound emotions 8. Reactions to objects The attraction emotions Fine-grained analyses and emotion sequences 9. The boundaries of the theory Emotion words and cross-cultural issues Emotion experiences and unconscious emotions Coping and the function of emotions Computational tractability.
The ascendance of emotion theory recent advances in cognitive science and neuroscience, and increasingly important findings from developmental psychology and learning make possible an integrative account of the nature and etiology of anxiety and its disorders. This model specifies an integrated set of triple vulnerabilities: a generalized biological (heritable) vulnerability, a generalized psychological vulnerability based on early experiences in developing a sense of control over salient events, and a more specific psychological vulnerability in which one learns to focus anxiety on specific objects or situations. The author recounts rite development of anxiety and related disorders based on these triple vulnerabilities and discusses implications for the classification of emotional disorders.
Ours is a multifaceted academic discipline. Indeed, scholars seeking to publish their management-related research in AMJ have interests in diverse areas of inquiry, such as management history, technology and innovation management, and management spirituality and religion, among a host of others. The Academy of Management's 24 divisions and interest groups are perhaps a meaningful proxy for the sheer diversity of management scholarship. One might even argue that the eclectic nature of this scholarship contributes to researchers' ability to consistently produce intriguing and stimulating findings.
A new competitive landscape is developing largely based on the technological revolution and increasing globalization. The strategic discontinuities encountered by firms are transforming the nature of competition. To navigate effectively in this new competitive landscape, to build and maintain competitive advantage, requires a new type of organization. Success in the 21st century organization will depend first on building strategic flexibility. To develop strategic flexibility and competitive advantage, requires exercising strategic leadership, building dynamic core competences, focusing and developing human capital, effectively using new manufacturing and information technologies, employing valuable strategies (exploiting global markets and cooperative strategies) and implementing new organization structures and culture (horizontal organization, learning and innovative culture, managing firm as bundles of assets). Thus, the new competitive landscape will require new types of organization and leaders for survival and global market leadership.
The purpose of this paper is to analyze the main socio-cultural factors that influence women entrepreneurship in Catalonia, using institutional economics as a theoretical framework. The empirical research employs logistic regression models (rare events logit), utilizing data obtained from the Global Entrepreneurship Monitor project (GEM). The main findings highlight that 'fear of failure' and 'perceived capabilities' are the most important socio-cultural factors on the probability of becoming a woman entrepreneur. The research contributes both theoretically, advancing knowledge of the socio-cultural factors that affect female entrepreneurship, and practically, helping in the development of educational programmes and support policies to promote entrepreneurial activity.
In this paper I use the psychological literature on grief to explore the emotion oi business failure, suggesting that the loss of a business from failure can cause the self-employed to feel grief—a negative emotional response interfering with the ability to leam from the events surrounding that loss. I discuss how a dual process of grief recovery maximizes the leaming from business failure.
Using data from representative population surveys in 17 countries, we find that the lower rate of female business ownership is primarily due to women's lower propensity to start businesses rather than to differences in survival rates across genders. We show that women are less confident in their entrepreneurial skills, have different social networks and exhibit higher fear of failure than men. After controlling for endogeneity, we find that these variables explain a substantial part of the gender gap in entrepreneurial activity. Although, of course, their relative importance varies significantly across countries, these factors appear to have a universal effect.
In this study, we examine the effect that three dimensions of fear of failure have on the propensity for entrepreneurial action. Specifically, we explore the moderating effects the fear of devaluing one’s self-estimate, fear of upsetting important others, and fear of having an uncertain future have on the relationships between human capital and self-efficacy and the propensity to entrepreneurial action (controlling for differences in opportunities). With a sample of 120 CEOs of technology firms, we find that while fear of failure does moderate the effects of specific human capital, general self-efficacy and entrepreneurial self-efficacy on propensity for entrepreneurial action, the nature of these effects differs across fear of failure dimensions. These results have important implications for understanding the entrepreneurial action of CEOs.
I would encourage you to think of fear of failure, because the fear of failure will stop many people. – One entrepreneur speaking to students
Most of the things I’ve accomplished in my life have been based on fear of failure. – Another entrepreneur speaking to students
NATIONAL FEDERATION OF INDEPENDENT BUSINESS (NFIB) AWARD FOR EXCELLENCE IN RESEARCH ON THE GENERAL TOPIC OF ENTREPRENEURSHIP
This paper examines the moderating effect of social norms on the growth aspirations of entrepreneurs with exit experience in their subsequent entrepreneurial activities. Our analysis shows that previous entrepreneurial exit experience exercises a positive influence on individuals’ entrepreneurial growth aspirations. The findings also show that social group–level prevalence of fear of failure moderates positively this relationship and that the social context constitutes an important influence on individual’s entrepreneurial aspirations.
The wildly unequal rates at which entrepreneurial opportunities are translated into entrepreneurial activity across the world suggest the existence of certain filters that hamper the efficiency of such translation. Because entrepreneurial process implies the nexus of opportunities and individuals (Shane & Venkataraman, 2000), we suggest that human agency plays a filtering role that prevents many opportunities from resulting in entrepreneurial activity. In this study we look at three human agency filters—human capital, perceived capabilities and fear of failure—at two different stages of the entrepreneurial process. First, we propose that human capital acts as a filter preventing objective opportunities from being perceived such that not all objectively existing opportunities are acknowledged. Second, subjectively perceived opportunities need further human agency intervention to be exploited. At this stage, perceived capabilities and fear of failure act as a filter preventing entrepreneurial activity.
Managing a company is stressful (Boyd and Gumpert, 1983). However, few studies have investigated the occurrence of stress among entrepreneurs (Wincent and Örtqvist, 2006). Especially its effect on entrepreneurial decision-making has so far been neglected. We analyze entrepreneurs’ decision to exploit an opportunity (Choi and Shepherd, 2004) and investigate how job stress influences this decision. Since stress can cause hasty decision-making (Janis and Mann, 1977), we argue that entrepreneurs draw less on their knowledge of available resources when they experience stress, leading to a higher likelihood to exploit. However, individuals differ in their reaction to stress (Lazarus and Erikson, 1952) and stress can also decrease entrepreneurs’ motivation to exploit. We suggest that the personality trait fear of failure moderates the relationship of experienced stress on entrepreneurs’ exploitation decisions. We propose that fear of failure leads to a focus on possible negative outcomes (Elliot and Church, 1997) and additionally experienced stress can lead to a “flight-response” and a decreased likelihood to exploit.
