Yue Cheng, Yi Zheng, Francesco Schiavone, Octavio R. Escobar
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Fantasy of success, fear of failure and entrepreneurial choice: the moderating role of business vibrancy and failure experience
Purpose
This study investigates the impact of internal expectations, such as fantasy of success and fear of failure and external factors, such as social environment and past experiences, on entrepreneurial choice.
Design/methodology/approach
Based on achievement motivation and social cognitive theories, the authors construct hypotheses and use secondary data from the Global Entrepreneurship Monitor (GEM) database and Economic Freedom Index report to empirically test the hypotheses. The authors also use propensity score matching to solve the endogeneity issue and test the robustness.
Findings
Internal expectations (fantasy of success and fear of failure) on business outcomes inversely affect entrepreneurial choices, with a vibrant business environment amplifying and past failure experience mitigating these effects.
Originality/value
Due to the economic recession, governments encourage small businesses. Thus, the complexity of individual entrepreneurial motivations and influencing factors necessitate deeper exploration. This study is one of the first research offering insights into entrepreneurial motivations from combined dimensions and providing theoretical support for strategies promoting public entrepreneurship.
期刊介绍：
The International Journal of Entrepreneurial Behavior & Research (IJEBR) has a unique focus on publishing original research related to the human and social dynamics of entrepreneurship, and entrepreneurial management in small and growing organizations. The journal has an international perspective on entrepreneurship and publishes conceptual papers and empirical studies which bring together issues of interest to academic researchers and educators, policy-makers and practitioners worldwide.The editorial team encourages high-quality submissions which advance the study of human and behavioural dimensions of entrepreneurship and smaller organizations. Examples of topics which illustrate the scope of the journal are provided below. Topicality Nascent entrepreneurship and new venture creation Management development and learning in smaller businesses Enterprise and entrepreneurship education, learning and careers Entrepreneurial psychology and cognition Management and transition in smaller, growing and family-owned enterprises Corporate entrepreneurship and venturing Entrepreneurial teams, management and organizations Social, sustainable and informal entrepreneurship National and international policy, historical and cultural studies in entrepreneurship Gender, minority and ethnic entrepreneurship Innovative research methods and theoretical development in entrepreneurship Resourcing and managing innovation in entrepreneurial ventures.
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