IDEAS home Printed from https://ideas.repec.org/a/spr/intemj/v19y2023i4d10.1007_s11365-023-00908-8.html
   My bibliography  Save this article

Fear of failure, entrepreneurial passion and entrepreneurial motivation

Author

Listed:
  • Miguel-Angel Galindo-Martín

    (University of Castilla-La Mancha)

  • María-Soledad Castaño-Martínez

    (University of Castilla-La Mancha)

  • María-Teresa Méndez-Picazo

    (University Complutense of Madrid)

Abstract

In the analysis of entrepreneurial motivation, passion is one of the factors currently receiving attention, since passion drives the emotional experience towards the creative process, applying talent more effectively, which would facilitate entrepreneurial motivation. The opposite occurs with the fear of failure, which has a negative impact on entrepreneurial motivation, since perceptions of obtaining good results in the activity to be started are reduced. The objective of the paper is to analyze the behavior of passion and the fear of failure in entrepreneurial business, showing the economic and cultural factors that influence this process. For this purpose, the dualistic model of passion will be used. This model considers two opposing forms of passion: obsessive passion and harmonious passion. In order to complete the study, an empirical analysis has been carried out using data from 23 OECD countries utilizing the structural equation model (SEM) that has been estimated using the partial least squares technique (PLS). The model results indicate that obsessive passion influences entrepreneurial motivation to a greater extent than harmonious passion, which would imply that entrepreneurial motivation may be reduced as the economy presents worse expectations about its evolution. In this context, it is also important to consider the effects that a pandemic situation may have on entrepreneurial motivation and in order to avoid the negative effects and be able to take advantage of business opportunities it is necessary to facilitate financing that favor the entrepreneurial environment.

Suggested Citation

  • Miguel-Angel Galindo-Martín & María-Soledad Castaño-Martínez & María-Teresa Méndez-Picazo, 2023. "Fear of failure, entrepreneurial passion and entrepreneurial motivation," International Entrepreneurship and Management Journal, Springer, vol. 19(4), pages 1835-1853, December.
    • Handle: RePEc:spr:intemj:v:19:y:2023:i:4:d:10.1007_s11365-023-00908-8
    DOI: 10.1007/s11365-023-00908-8
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s11365-023-00908-8
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1007/s11365-023-00908-8?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Ma, Shuang & Wu, Xi & Gan, Li, 2019. "Credit accessibility, institutional deficiency and entrepreneurship in China," China Economic Review, Elsevier, vol. 54(C), pages 160-175.
    2. Elert, Niklas & Henrekson, Magnus, 2017. "Entrepreneurship and Institutions: A Bidirectional Relationship," Working Paper Series 1153, Research Institute of Industrial Economics, revised 05 May 2017.
    3. Kollmann, Tobias & Stöckmann, Christoph & Kensbock, Julia M., 2017. "Fear of failure as a mediator of the relationship between obstacles and nascent entrepreneurial activity—An experimental approach," Journal of Business Venturing, Elsevier, vol. 32(3), pages 280-301.
    4. Beniamino Callegari & Christophe Feder, 2022. "Entrepreneurship and the systemic consequences of epidemics: A literature review and emerging model," International Entrepreneurship and Management Journal, Springer, vol. 18(4), pages 1653-1684, December.
    5. Malerba, Franco & McKelvey, Maureen, 2019. "Impact: Knowledge-Intensive Innovative Entrepreneurship," Foundations and Trends(R) in Entrepreneurship, now publishers, vol. 14(6), pages 555-681, January.
    6. Zoltán J. Ács & Pontus Braunerhjelm & David B. Audretsch & Bo Carlsson, 2015. "The knowledge spillover theory of entrepreneurship," Chapters, in: Global Entrepreneurship, Institutions and Incentives, chapter 7, pages 129-144, Edward Elgar Publishing.
    7. May Portuguez Castro & Carlos Ross Scheede & Marcela Georgina Gómez Zermeño, 2019. "The Impact of Higher Education on Entrepreneurship and the Innovation Ecosystem: A Case Study in Mexico," Sustainability, MDPI, vol. 11(20), pages 1-17, October.
    8. Audretsch, David B. & Lehmann, Erik E., 2005. "Does the Knowledge Spillover Theory of Entrepreneurship hold for regions?," Research Policy, Elsevier, vol. 34(8), pages 1191-1202, October.
    9. Silveli Cristo-Andrade & João J. Ferreira, 2020. "Knowledge spillovers and strategic entrepreneurship: what researches and approaches?," International Entrepreneurship and Management Journal, Springer, vol. 16(1), pages 263-286, March.
    10. John Hulland, 1999. "Use of partial least squares (PLS) in strategic management research: a review of four recent studies," Strategic Management Journal, Wiley Blackwell, vol. 20(2), pages 195-204, February.
    11. Galindo, Miguel-Ángel & Méndez, María Teresa, 2014. "Entrepreneurship, economic growth, and innovation: Are feedback effects at work?," Journal of Business Research, Elsevier, vol. 67(5), pages 825-829.
    12. Zoltan J. Acs & Monika I. Megyesi, 2009. "Creativity and industrial cities: A case study of Baltimore," Entrepreneurship & Regional Development, Taylor & Francis Journals, vol. 21(4), pages 421-439, July.
    13. Panagiotis E. Petrakis & Dionysis G. Valsamis & Kyriaki I. Kafka, 2020. "Economic Growth and Development Policy," Springer Books, Springer, number 978-3-030-43181-5, April.
    14. Lubna Rashid, 2019. "Entrepreneurship Education and Sustainable Development Goals: A literature Review and a Closer Look at Fragile States and Technology-Enabled Approaches," Sustainability, MDPI, vol. 11(19), pages 1-23, September.
    15. Zoltan J. Acs & Saul Estrin & Tomasz Mickiewicz & László Szerb, 2018. "Entrepreneurship, institutional economics, and economic growth: an ecosystem perspective," Small Business Economics, Springer, vol. 51(2), pages 501-514, August.
    16. Yangyang Yu & Yong Qin & Zeshui Xu & Marinko Škare, 2022. "Bibliometric analysis of strategic entrepreneurship literature," International Entrepreneurship and Management Journal, Springer, vol. 18(4), pages 1475-1502, December.
    17. Philippe Aghion, 2017. "Entrepreneurship and growth: lessons from an intellectual journey," PSE-Ecole d'économie de Paris (Postprint) halshs-01599618, HAL.
    18. Kollmann, Tobias & Stöckmann, Christoph & Kensbock, Julia M., 2019. "I can't get no sleep—The differential impact of entrepreneurial stressors on work-home interference and insomnia among experienced versus novice entrepreneurs," Journal of Business Venturing, Elsevier, vol. 34(4), pages 692-708.
    19. Thomas Neumann, 2021. "The impact of entrepreneurship on economic, social and environmental welfare and its determinants: a systematic review," Management Review Quarterly, Springer, vol. 71(3), pages 553-584, July.
    20. Hanna Hottenrott & Bettina Peters, 2012. "Innovative Capability and Financing Constraints for Innovation: More Money, More Innovation?," The Review of Economics and Statistics, MIT Press, vol. 94(4), pages 1126-1142, November.
    21. Galindo-Martín, Miguel-Ángel & Castaño-Martínez, María-Soledad & Méndez-Picazo, María-Teresa, 2021. "The role of entrepreneurship in different economic phases," Journal of Business Research, Elsevier, vol. 122(C), pages 171-179.
    22. Wei, Yifan, 2022. "Regional governments and opportunity entrepreneurship in underdeveloped institutional environments: An entrepreneurial ecosystem perspective," Research Policy, Elsevier, vol. 51(1).
    23. Matthew J. Mazzei, 2018. "Strategic entrepreneurship: Content, process, context, and outcomes," International Entrepreneurship and Management Journal, Springer, vol. 14(3), pages 657-670, September.
    24. Philippe Aghion, 2017. "Entrepreneurship and growth: lessons from an intellectual journey," Post-Print halshs-01599618, HAL.
    25. Kuckertz, Andreas & Brändle, Leif & Gaudig, Anja & Hinderer, Sebastian & Morales Reyes, Carlos Arturo & Prochotta, Alicia & Steinbrink, Kathrin M. & Berger, Elisabeth S.C., 2020. "Startups in times of crisis – A rapid response to the COVID-19 pandemic," Journal of Business Venturing Insights, Elsevier, vol. 13(C).
    26. Carlos Alberto Pérez Rivero & Francisco Ubierna, 2021. "The development of the entrepreneurial motivation from the university," International Entrepreneurship and Management Journal, Springer, vol. 17(3), pages 1313-1334, September.
    27. Kihlstrom, Richard E & Laffont, Jean-Jacques, 1979. "A General Equilibrium Entrepreneurial Theory of Firm Formation Based on Risk Aversion," Journal of Political Economy, University of Chicago Press, vol. 87(4), pages 719-748, August.
    28. Philippe Aghion, 2017. "Entrepreneurship and growth: lessons from an intellectual journey," Small Business Economics, Springer, vol. 48(1), pages 9-24, January.
    29. Boudreaux, Christopher J. & Nikolaev, Boris N. & Klein, Peter, 2019. "Socio-cognitive traits and entrepreneurship: The moderating role of economic institutions," Journal of Business Venturing, Elsevier, vol. 34(1), pages 178-196.
    30. repec:eme:aseizz:s1048-4736(05)16003-2 is not listed on IDEAS
    31. Clara Gieure Sastre & María Mar Benavides-Espinosa & Domingo Ribeiro-Soriano, 2022. "When intentions turn into action: pathways to successful firm performance," International Entrepreneurship and Management Journal, Springer, vol. 18(2), pages 733-751, June.
    32. Muhammad Naveed Iftikhar & Maha Ahmad & David B. Audretsch, 2020. "The knowledge spillover theory of entrepreneurship: the developing country context," International Entrepreneurship and Management Journal, Springer, vol. 16(4), pages 1327-1346, December.
    33. Diamantopoulos, Adamantios & Riefler, Petra & Roth, Katharina P., 2008. "Advancing formative measurement models," Journal of Business Research, Elsevier, vol. 61(12), pages 1203-1218, December.
    34. Maksim Belitski & Sameeksha Desai, 2016. "Creativity, entrepreneurship and economic development: city-level evidence on creativity spillover of entrepreneurship," The Journal of Technology Transfer, Springer, vol. 41(6), pages 1354-1376, December.
    35. Udo Brixy & Rolf Sternberg & Heiko Stüber, 2012. "The Selectiveness of the Entrepreneurial Process," Journal of Small Business Management, Taylor & Francis Journals, vol. 50(1), pages 105-131, January.
    36. Jörg Henseler & Marko Sarstedt, 2013. "Goodness-of-fit indices for partial least squares path modeling," Computational Statistics, Springer, vol. 28(2), pages 565-580, April.
    37. Pia Arenius & Maria Minniti, 2005. "Perceptual Variables and Nascent Entrepreneurship," Small Business Economics, Springer, vol. 24(3), pages 233-247, February.
    38. repec:jpe:journl:952 is not listed on IDEAS
    39. Cole, Rebel A. & Sokolyk, Tatyana, 2018. "Debt financing, survival, and growth of start-up firms," Journal of Corporate Finance, Elsevier, vol. 50(C), pages 609-625.
    40. Zoltan Acs & David Audretsch & Pontus Braunerhjelm & Bo Carlsson, 2012. "Growth and entrepreneurship," Small Business Economics, Springer, vol. 39(2), pages 289-300, September.
    41. Nicole F. Richter & Sven Hauff & Christian M. Ringle & Siegfried P. Gudergan, 2022. "The Use of Partial Least Squares Structural Equation Modeling and Complementary Methods in International Management Research," Management International Review, Springer, vol. 62(4), pages 449-470, August.
    42. Audretsch, David B. & Keilbach, Max C. & Lehmann, Erik E., 2006. "Entrepreneurship and Economic Growth," OUP Catalogue, Oxford University Press, number 9780195183511, Decembrie.
    43. Wei, Yifan, 2022. "Reprint of: Regional governments and opportunity entrepreneurship in underdeveloped institutional environments: An entrepreneurial ecosystem perspective," Research Policy, Elsevier, vol. 51(9).
    44. David Audretsch & Maksim Belitski, 2013. "The missing pillar: the creativity theory of knowledge spillover entrepreneurship," Small Business Economics, Springer, vol. 41(4), pages 819-836, December.
    45. Natanya Meyer & Jacques de Jongh, 2018. "The Importance of Entrepreneurship as a Contributing Factor to Economic Growth and Development: The Case of Selected European Countries," Journal of Economics and Behavioral Studies, AMH International, vol. 10(4), pages 287-299.
    46. Sarasvathy, Saras D. & Dew, Nicholas, 2005. "Entrepreneurial logics for a technology of foolishness," Scandinavian Journal of Management, Elsevier, vol. 21(4), pages 385-406, December.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Galindo-Martín, Miguel-Ángel & Castaño-Martínez, María-Soledad & Méndez-Picazo, María-Teresa, 2021. "Effects of the pandemic crisis on entrepreneurship and sustainable development," Journal of Business Research, Elsevier, vol. 137(C), pages 345-353.
    2. Miguel-Angel Galindo-Martín & María-Soledad Castaño-Martínez & María-Teresa Méndez-Picazo, 2024. "The relationship between digitalization and entrepreneurship in expansionary and crisis economic phases," International Entrepreneurship and Management Journal, Springer, vol. 20(3), pages 1999-2017, September.
    3. Galindo-Martín, Miguel-Ángel & Castaño-Martínez, María-Soledad & Méndez-Picazo, María-Teresa, 2021. "The role of entrepreneurship in different economic phases," Journal of Business Research, Elsevier, vol. 122(C), pages 171-179.
    4. Tarek Ben Ali, 2023. "How Does Institutional Quality Affect Business Start-Up in High and Middle-Income Countries? An International Comparative Study," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 14(3), pages 2830-2877, September.
    5. Muhammad Naveed Iftikhar & Maha Ahmad & David B. Audretsch, 0. "The knowledge spillover theory of entrepreneurship: the developing country context," International Entrepreneurship and Management Journal, Springer, vol. 0, pages 1-20.
    6. Alfredo Monte & Sara Moccia & Luca Pennacchio, 2022. "Regional entrepreneurship and innovation: historical roots and the impact on the growth of regions," Small Business Economics, Springer, vol. 58(1), pages 451-473, January.
    7. Miguel-Angel Galindo-Martín & María-Soledad Castaño-Martínez & María-Teresa Méndez-Picazo, 2020. "The Relationship between Green Innovation, Social Entrepreneurship, and Sustainable Development," Sustainability, MDPI, vol. 12(11), pages 1-19, June.
    8. Gupta, Brij B. & Gaurav, Akshat & Panigrahi, Prabin Kumar & Arya, Varsha, 2023. "Analysis of artificial intelligence-based technologies and approaches on sustainable entrepreneurship," Technological Forecasting and Social Change, Elsevier, vol. 186(PB).
    9. Muhammad Naveed Iftikhar & Maha Ahmad & David B. Audretsch, 2020. "The knowledge spillover theory of entrepreneurship: the developing country context," International Entrepreneurship and Management Journal, Springer, vol. 16(4), pages 1327-1346, December.
    10. Lattacher, Wolfgang & Gregori, Patrick & Holzmann, Patrick & Schwarz, Erich J., 2021. "Knowledge spillover in entrepreneurial emergence: A learning perspective," Technological Forecasting and Social Change, Elsevier, vol. 166(C).
    11. Maksim Belitski & Rosa Caiazza & Erik E. Lehmann, 2021. "Knowledge frontiers and boundaries in entrepreneurship research," Small Business Economics, Springer, vol. 56(2), pages 521-531, February.
    12. Zoltán J. Ács & Pontus Braunerhjelm & David B. Audretsch & Bo Carlsson, 2015. "The knowledge spillover theory of entrepreneurship," Chapters, in: Global Entrepreneurship, Institutions and Incentives, chapter 7, pages 129-144, Edward Elgar Publishing.
    13. Silveli Cristo-Andrade & João J. Ferreira & Arilda Teixeira & William C. McDowell, 2024. "Knowledge spillovers in business intelligence organisations: a strategic entrepreneurship perspective," International Entrepreneurship and Management Journal, Springer, vol. 20(2), pages 733-759, June.
    14. Silveli Cristo-Andrade & João J. Ferreira, 2020. "Knowledge spillovers and strategic entrepreneurship: what researches and approaches?," International Entrepreneurship and Management Journal, Springer, vol. 16(1), pages 263-286, March.
    15. Fandi Yang & Peng Yuan & Gongxiong Jiang, 2022. "Knowledge Spillovers, Institutional Environment, and Entrepreneurship: Evidence from China," Sustainability, MDPI, vol. 14(22), pages 1-27, November.
    16. Alessandra Colombelli & Emilio Paolucci & Elisabetta Raguseo & Gianluca Elia, 2024. "The creation of digital innovative start-ups: the role of digital knowledge spillovers and digital skill endowment," Small Business Economics, Springer, vol. 62(3), pages 917-937, March.
    17. Ronja Kirschning & Matthias Mrożewski, 2023. "The role of entrepreneurial absorptive capacity for knowledge spillover entrepreneurship," Small Business Economics, Springer, vol. 60(1), pages 105-120, January.
    18. Boudreaux, Christopher & Caudill, Steven, 2019. "Entrepreneurship, Institutions, and Economic Growth: Does the Level of Development Matter?," MPRA Paper 94244, University Library of Munich, Germany.
    19. Alice Civera & Michele Meoli & Silvio Vismara, 2019. "Do academic spinoffs internationalize?," The Journal of Technology Transfer, Springer, vol. 44(2), pages 381-403, April.
    20. Luca Farè & David B. Audretsch & Marcus Dejardin, 2023. "Does democracy foster entrepreneurship?," Small Business Economics, Springer, vol. 61(4), pages 1461-1495, December.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:intemj:v:19:y:2023:i:4:d:10.1007_s11365-023-00908-8. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.