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Business Failure and the Lottery Syndrome: A Note

Author

Listed:
  • Paul E. Adams

    (Ramapo College of NJ)

Abstract

A significant number of new business failures can be traced to the fact that the founder(s) missed the mark on many of these traits required for success. They may not have inspired confidence in anyone, including themselves. They may have been easily upset by problems. They may have had difficulty in maintaining any internal optimism with no clear vision or realistic goals. Lastly, they may have succumbed to wishful thinking and the need for instant gratification with the material trappings of the business; thus creating an emotional foundation for failure.

Suggested Citation

  • Paul E. Adams, 1994. "Business Failure and the Lottery Syndrome: A Note," Journal of Entrepreneurial Finance, Pepperdine University, Graziadio School of Business and Management, vol. 3(2), pages 159-163, Spring.
  • Handle: RePEc:pep:journl:v:3:y:1994:i:2:p:159-163
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    References listed on IDEAS

    as
    1. James S. Ang, 1991. "Small Business Uniqueness and the Theory of Financial Management," Journal of Entrepreneurial Finance, Pepperdine University, Graziadio School of Business and Management, vol. 1(1), pages 1-13, Spring.
    2. Cheah, Hock-Beng, 1990. "Schumpeterian and Austrian entrepreneurship: Unity within duality," Journal of Business Venturing, Elsevier, vol. 5(6), pages 341-347, November.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Failure; Lottery Syndrome; Business Failure;

    JEL classification:

    • G33 - Financial Economics - - Corporate Finance and Governance - - - Bankruptcy; Liquidation

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