So Sad! Entrepreneurs’ Emotions Caused by Crowdfunding Campaign Failures

Dominik Reuter, Siddharth Vedula, Michael Wessel, Ferdinand Thies

Research output: Chapter in Book/Report/Conference proceedingConference abstract in proceedingsResearchpeer-review


Failure is commonplace in entrepreneurship, and can impact an entrepreneur’s mental health. We collected a unique individual-level dataset for 33,000 entrepreneurs that combines data from 45,000 crowdfunding campaigns from Kickstarter and approximately 20 million social media posts from Twitter for the period 2009-2021. Applying a machine learning approach for natural language processing, we show that entrepreneurial failure can lead to an increase in expressed negative emotion, namely, sadness. We also theorize and demonstrate that entrepreneurial experience can act as an “emotional buffer,” decreasing both the magnitude and duration of sadness associated with failure. Our study contributes to the theoretical literature on affect and entrepreneurship while also offering a novel non-obtrusive way to measure entrepreneurial emotions using big data.
Original languageEnglish
Title of host publicationProceedings of the Eighty-third Annual Meeting of the Academy of Management
EditorsSonia Taneja
Number of pages1
Place of PublicationBriarcliff Manor, NY
PublisherAcademy of Management
Publication date2023
Publication statusPublished - 2023
EventThe Academy of Management Annual Meeting 2023: Putting the Worker Front and Center - Boston, United States
Duration: 4 Aug 20238 Aug 2023
Conference number: 83


ConferenceThe Academy of Management Annual Meeting 2023
Country/TerritoryUnited States
Internet address
SeriesAcademy of Management Annual Meeting Proceedings

Cite this