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.
Original language | English |
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Journal | Entrepreneurship: Theory and Practice |
Volume | 45 |
Issue number | 3 |
Pages (from-to) | 626-657 |
Number of pages | 32 |
ISSN | 1042-2587 |
DOIs | |
Publication status | Published - May 2021 |
Bibliographical note
Published online: 24 December 2020Keywords
- Failure
- Problemistic search
- Search distance
- Entrepreneurs
- Crowdfunding