Searching for Success: Entrepreneurs’ Responses to Crowdfunding Failure

Research output: Contribution to journalArticleResearchpeer review

Authors

  • Erk P. Piening
  • Ferdinand Thies
  • Michael Wessel
  • Alexander Benlian

External Research Organisations

  • University of Liechtenstein
  • Copenhagen Business School (CBS)
  • Technische Universität Darmstadt
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Details

Original languageEnglish
Pages (from-to)626-657
Number of pages32
JournalEntrepreneurship: Theory and Practice
Volume45
Issue number3
Publication statusPublished - 24 Dec 2020

Abstract

In this study, we seek to provide new insights into the process of problemistic search by examining entrepreneurs’ behavioral responses to failures. Using a comprehensive dataset of over 65,000 crowdfunding projects, we specifically explore how negative performance feedback influences entrepreneurs’ search distance. Our results demonstrate that the severity and persistence of failure have a U-shaped and inverted U-shaped relationship with search distance, respectively. Moreover, greater temporal distance between an entrepreneur’s failure experience and a subsequent crowdfunding project is not only associated with increases in search distance, but also attenuates the curvilinear main effects.

Keywords

    crowdfunding, entrepreneurs, failure, problemistic search, search distance

ASJC Scopus subject areas

Cite this

Searching for Success: Entrepreneurs’ Responses to Crowdfunding Failure. / Piening, Erk P.; Thies, Ferdinand; Wessel, Michael et al.
In: Entrepreneurship: Theory and Practice, Vol. 45, No. 3, 24.12.2020, p. 626-657.

Research output: Contribution to journalArticleResearchpeer review

Piening EP, Thies F, Wessel M, Benlian A. Searching for Success: Entrepreneurs’ Responses to Crowdfunding Failure. Entrepreneurship: Theory and Practice. 2020 Dec 24;45(3):626-657. doi: 10.1177/1042258720980710, 10.15488/11606
Piening, Erk P. ; Thies, Ferdinand ; Wessel, Michael et al. / Searching for Success : Entrepreneurs’ Responses to Crowdfunding Failure. In: Entrepreneurship: Theory and Practice. 2020 ; Vol. 45, No. 3. pp. 626-657.
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