Entrepreneurial fear of failure and exit intention: The moderating role of a conducive social environment

Subhan Shahid, M. Mei, Martina Battisti
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Abstract

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.
创业者对失败的恐惧与退出意向:有利社会环境的调节作用
本文以发展中经济体为背景,研究了创业者对失败的恐惧、退出意向之间的关系,以及有利的社会环境(尤其是企业孵化器)的调节作用。文章提供了实证证据,说明不同的失败恐惧来源如何影响创业者的退出意向。基于社会认知理论,并利用从 255 名从业创业者那里收集到的调查数据,我们表明,与自身相关的失败源会导致更高的退出意愿,而外部失败源则不会引发这种意愿。值得注意的是,当创业者在企业孵化器的支持性框架内运作时,与自身相关的失败恐惧与退出意愿之间的正相关关系就会减弱。这项研究强调了发展中经济体的特殊动态,这些动态会对创业者的心理产生深远影响。总之,这项研究提供了宝贵的见解,让我们了解失败恐惧如何影响创业结果,以及支持性社会环境如何减轻失败恐惧的负面影响,尤其是在巴基斯坦这样的发展中国家。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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