The experience of regret in small business failure: who’s to blame?

Published on Apr 9, 2021in European Journal of Marketing
· DOI :10.1108/EJM-12-2019-0917
Sara Quach8
Estimated H-index: 8
,
Scott Keith W Weaven24
Estimated H-index: 24
+ 3 AuthorsJames R. Brown31
Estimated H-index: 31
Sources
Abstract
Purpose: Framed within the theoretical domain of attribution theory, this study aims to investigate the antecedents of experienced regret following an entrepreneur’s business failure (defined as firm discontinuance, closure or bankruptcy) and the impact of regret on personal well-being. Design/methodology/approach: The population of interest was business owners whose businesses had failed within the past five years. The data was collected from 319 failed entrepreneurs using an online survey. Structural equation modelling was used to test the hypotheses presented in this study. Findings: External attribution, including economic uncertainty and contract restrictions, was positively related to feelings of regret. Considering internal attribution, due diligence had a positive effect on regret whereas customer relationship development ability can reduce feelings of regret. Moreover, prevention-focused entrepreneurs were likely to experience higher levels of regret when engaging in extensive consideration in using information. Finally, regret had a detrimental effect on the entrepreneurs’ well-being. Research limitations/implications: The research provides fresh perspectives on experienced regret, a relatively unexplored emotion in the entrepreneurship literature. In the context of small business operations, the locus of attribution (associated with business failure) is the key influence on learning following failed business attempts. Practical implications: This study extends current knowledge of regret in the context of entrepreneurial failure, which has a significant catalytic effect on employment and entrepreneurial mobility. Originality/value: This research sheds light on how emotional responses are derived from an entrepreneur’s self-assessment of their performance and attribution of blame for failure.
📖 Papers frequently viewed together
1 Citations
7 Citations
2012
1 Author (Kyu Soo Ha)
2 Citations
References172
Newest
#1Maike Luhmann (RUB: Ruhr University Bochum)H-Index: 22
#2Susanne Buecker (RUB: Ruhr University Bochum)H-Index: 5
Last. Mira Beermann (RUB: Ruhr University Bochum)H-Index: 1
view all 4 authors...
OBJECTIVE: Missed events are defined as the nonoccurrence of expected major life events within a specified time frame. We examined whether missed events should be studied in research on growth by exploring the role of missed events for changes in subjective well-being (SWB) and the Big Five personality traits. METHOD: The samples were selected from two nationally representative panel studies, the German Socioeconomic Panel Innovation Sample (SOEP-IS, total N = 6,638) and the Dutch Longitudinal I...
3 CitationsSource
#1Hui-Hua Zhang (SHNU: Shanghai Normal University)H-Index: 2
#2Rui Li (Soochow University (Taiwan))H-Index: 2
Last. Nicola S. Schutte (UNE: University of New England (United States))H-Index: 50
view all 3 authors...
ABSTRACTThis study examined whether the status (central or peripheral position) of individuals in a friendship network and the quality of a friendship network represent key mechanisms in determinin...
2 CitationsSource
#1Elyria Kemp (College of Business Administration)H-Index: 19
#2Kelly Cowart (USF: University of South Florida)H-Index: 6
Last. My (Myla) Bui (College of Business Administration)H-Index: 2
view all 3 authors...
Abstract Young adults are experiencing a marked increase in anxiety. Several environmental factors, including socially prescribed perfectionism, a form of perfectionism, may account for increasing levels of anxiety. This research examines how social advertising tools can be used to encourage the use of emotion regulation strategies to help promote psychological well-being. Specifically, the efficacy of two emotion regulation strategies is investigated: cognitive reappraisal and expressive suppre...
3 CitationsSource
#1Ishfaq AhmedH-Index: 4
#1Ishfaq AhmedH-Index: 19
Last. Ahmad UsmanH-Index: 9
view all 3 authors...
Entrepreneurial activities are the outcome of various individual dispositional and environmental factors. Taking both internal and external factors as the basic premise of venturing, this study aims to investigate the impact of entrepreneurial self-efficacy on intentions through the mediating role of regret and moderation of family support.,Data was collected through a questionnaire from 435 students of three large public sector universities at two points of time with an interval of four months....
1 CitationsSource
Purpose: Drawing on an outside-in marketing perspective, this paper aims to outline the development, implementation, evaluation and reflection of a real-world entrepreneurship education (EE) intervention with cognitive, affective and ultimately behavioural objectives. Design/methodology/approach: A specific and uniform EE program specifically targeted to current “would be” entrepreneurs who were investigating the franchising business model was developed, focusing on the behavioural outcomes. The...
1 CitationsSource
The most widely used entrepreneurial intention models explain only cognitive motivational factors. However, psychological studies reveal that emotional factors and counterfactual thinking such as a...
2 CitationsSource
#1Intissar AbbesH-Index: 1
#2Heifa BouslamaH-Index: 1
Last. Rihab ZemniH-Index: 1
view all 3 authors...
ABSTRACTThe present article aims at exploring the concept of ill-being by setting a typology of tourism experiences and the associated forms of ill-being. A qualitative study was conducted on 31 Fr...
2 CitationsSource
#1Nadav Shir (Hanken School of Economics)H-Index: 4
#2Boris Nikolaev (Baylor University)H-Index: 16
Last. Joakim Wincent (Hanken School of Economics)H-Index: 36
view all 3 authors...
Abstract Drawing upon the self-determination theory, we develop a two-stage multi-path mediation model in which psychological autonomy mediates the relationship between active engagement in entrepreneurship and well-being partially through its effect on psychological competence and relatedness. We test this model on a representative sample of 1837 working individuals (251 early-stage entrepreneurs) from Sweden. We find active engagement in entrepreneurial work tasks to be strongly associated wit...
52 CitationsSource
#1Johan Wiklund (SU: Syracuse University)H-Index: 75
#2Boris Nikolaev (Baylor University)H-Index: 16
Last. Steve Bradley (Baylor University)H-Index: 24
view all 5 authors...
Abstract Entrepreneurship research typically emphasizes firm-level outcomes such as growth and performance. However, people pursue entrepreneurship for deeply personal, idiosyncratic reasons. Therefore, as in other self-organized human pursuits, how entrepreneurship relates to fulfillment and well-being is of utmost importance. In this paper, we provide an overview of the well-being concept, related research, and its connection to entrepreneurship. We define entrepreneurial well-being as the exp...
80 CitationsSource
#1Carol D. Ryff (UW: University of Wisconsin-Madison)H-Index: 98
Abstract Researchers in entrepreneurial studies are increasingly interested in the psychological well-being of entrepreneurs. Approaches to well-being tend to be partitioned into hedonic and eudaimonic formulations. Most entrepreneurial studies have focused on hedonic indicators (life satisfaction, happiness, positive affect). The central objective of this essay is to examine the relevance of eudaimonic well-being for understanding entrepreneurial experience. The theoretical background and key d...
39 CitationsSource
Cited By0
Newest