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How does entrepreneurs' psychological ownership affect their grief after failure?

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  • Dan K. Hsu
  • Katrin Burmeister-Lamp
  • Michelle Hong

Abstract

What determines the level of grief that entrepreneurs feel after failure? Drawing on regulatory focus theory and the psychological ownership (PO) literature, this paper examines the effect of different components of PO the failed entrepreneurs have had toward the prior venture on their grief levels. It is argued that PO has two components: promotive PO, which is driven by the individual's achievement needs, and preventative PO, which is driven by the safety needs. Surveying 150 individuals with business failure experience, this study found that individuals with stronger promotive PO toward the prior venture felt less grief while individuals with greater preventative PO incurred stronger grief feelings.

Suggested Citation

  • Dan K. Hsu & Katrin Burmeister-Lamp & Michelle Hong, 2017. "How does entrepreneurs' psychological ownership affect their grief after failure?," International Journal of Entrepreneurial Venturing, Inderscience Enterprises Ltd, vol. 9(2), pages 160-180.
    • Handle: RePEc:ids:ijeven:v:9:y:2017:i:2:p:160-180
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    Cited by:

    1. Jenkins, Anna S, 2021. "Relief and exploration after firm failure: Taking into account pre-failure experiences to understand post-failure responses," Journal of Business Venturing Insights, Elsevier, vol. 15(C).
    2. Hong, Michelle C. & Lin, Hsing-Er & Hsu, Dan K. & Shi, Yongchuan, 2021. "When ownership of the venture triggers cofounders’ unethical pro-venture behavior," Journal of Business Venturing Insights, Elsevier, vol. 16(C).

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