Authors: Dan K. Hsu; Katrin Burmeister-Lamp; Michelle Hong
Addresses: Department of Management, Appalachian State University, ASU Box 32089, Boone, NC 28608-2089, USA ' Department of Strategic Management and Entrepreneurship, Rotterdam School of Management, Erasmus University Rotterdam, The Netherlands ' Department of Management, Virginia Polytechnic Institute and State University, Virginia, USA
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.
Keywords: entrepreneurs; psychological ownership; regulatory focus; grief; business failure.
International Journal of Entrepreneurial Venturing, 2017 Vol.9 No.2, pp.160 - 180
Available online: 09 May 2017 *Full-text access for editors Access for subscribers Purchase this article Comment on this article