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Understanding Fear of Failure in Entrepreneurship: A Cognitive Process Framework

Author

Listed:
  • James Hayton

    (Warwick University Business School)

  • Gabriella Cacciotti

    (Warwick University Business School)

  • Andreas Giazitzoglu

    (Newcastle University)

  • J. Robert Mitchell

    (Ivey Business School, Canada)

  • Chris Ainge

    (Ivey Business School, Canada)

Abstract

There is a broadly held assumption within the entrepreneurship literature that fear of failure is always and only an inhibitor of entrepreneurial behavior. However, anecdotal evidence and psychological theory suggest that this assumption is flawed. If fear stimulates greater striving in some cases or situations, then perhaps it can be a friend as much as a foe. The motivating value of fear may have consequences for the reactions, decisions, health and well-being of the entrepreneur. Unfortunately, a lack of rigorous conceptualization of the construct is a barrier to understanding such consequences. We present a grounded theoretic framework of the antecedents, moderators and consequences of fear of failure with significant implications for theory and future research.

Suggested Citation

  • James Hayton & Gabriella Cacciotti & Andreas Giazitzoglu & J. Robert Mitchell & Chris Ainge, 2013. "Understanding Fear of Failure in Entrepreneurship: A Cognitive Process Framework," Research Papers 0003, Enterprise Research Centre.
  • Handle: RePEc:enr:rpaper:0003
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    References listed on IDEAS

    as
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    Cited by:

    1. Chong Kyoon Lee & Johan Wiklund & Alejandro Amezcua & Tae Jun Bae & Almantas Palubinskas, 2022. "Business failure and institutions in entrepreneurship: a systematic review and research agenda," Small Business Economics, Springer, vol. 58(4), pages 1997-2023, April.
    2. Chong Kyoon Lee & Griffin W. Cottle & Sharon A. Simmons & Johan Wiklund, 2021. "Fear not, want not: Untangling the effects of social cost of failure on high-growth entrepreneurship," Small Business Economics, Springer, vol. 57(1), pages 531-553, June.

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    More about this item

    Keywords

    entrepreneurship; fear of failure; psychology; motivation;
    All these keywords.

    JEL classification:

    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship

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    This paper has been announced in the following NEP Reports:

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