Details
Original language | English |
---|---|
Pages (from-to) | 626-657 |
Number of pages | 32 |
Journal | Entrepreneurship: Theory and Practice |
Volume | 45 |
Issue number | 3 |
Publication status | Published - 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
- Business, Management and Accounting(all)
- Business and International Management
- Economics, Econometrics and Finance(all)
- Economics and Econometrics
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In: Entrepreneurship: Theory and Practice, Vol. 45, No. 3, 24.12.2020, p. 626-657.
Research output: Contribution to journal › Article › Research › peer review
}
TY - JOUR
T1 - Searching for Success
T2 - Entrepreneurs’ Responses to Crowdfunding Failure
AU - Piening, Erk P.
AU - Thies, Ferdinand
AU - Wessel, Michael
AU - Benlian, Alexander
PY - 2020/12/24
Y1 - 2020/12/24
N2 - 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.
AB - 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.
KW - crowdfunding
KW - entrepreneurs
KW - failure
KW - problemistic search
KW - search distance
UR - http://www.scopus.com/inward/record.url?scp=85098006456&partnerID=8YFLogxK
U2 - 10.1177/1042258720980710
DO - 10.1177/1042258720980710
M3 - Article
AN - SCOPUS:85098006456
VL - 45
SP - 626
EP - 657
JO - Entrepreneurship: Theory and Practice
JF - Entrepreneurship: Theory and Practice
SN - 1042-2587
IS - 3
ER -