Details
| Original language | English |
|---|---|
| Pages (from-to) | 467-492 |
| Number of pages | 26 |
| Journal | Small business economics |
| Volume | 46 |
| Issue number | 3 |
| Early online date | 24 Dec 2015 |
| Publication status | Published - Mar 2016 |
Abstract
Studies on the influence of entrepreneurial role models (peers) on the decision to start a firm argue that entrepreneurial role models in the local environment (1) provide opportunities to learn about entrepreneurial tasks and capabilities, and (2) signal that entrepreneurship is a favorable career option thereby reducing uncertainty that potential entrepreneurs face. However, these studies remain silent about the role of institutional context for these mechanisms. Applying an extended sender–receiver model, we hypothesize that observing entrepreneurs reduces fear of failure in others in environments where approval of entrepreneurship is high, while this effect is significantly weaker in low-approval environments. Taking advantage of the natural experiment from recent German history and using data from the Global Entrepreneurship Monitor Project, we find considerable support for our hypotheses.
Keywords
- Communist legacy, East Germany, Entrepreneurial intentions, Fear of failure, Global Entrepreneurship Monitor, Peer effect, Role models
ASJC Scopus subject areas
- Business, Management and Accounting(all)
- General Business,Management and Accounting
- Economics, Econometrics and Finance(all)
- Economics and Econometrics
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In: Small business economics, Vol. 46, No. 3, 03.2016, p. 467-492.
Research output: Contribution to journal › Article › Research › peer review
}
TY - JOUR
T1 - Entrepreneurial role models, fear of failure, and institutional approval of entrepreneurship
T2 - a tale of two regions
AU - Wyrwich, Michael
AU - Stuetzer, Michael
AU - Sternberg, Rolf
N1 - Publisher Copyright: © 2015, Springer Science+Business Media New York. Copyright: Copyright 2016 Elsevier B.V., All rights reserved.
PY - 2016/3
Y1 - 2016/3
N2 - Studies on the influence of entrepreneurial role models (peers) on the decision to start a firm argue that entrepreneurial role models in the local environment (1) provide opportunities to learn about entrepreneurial tasks and capabilities, and (2) signal that entrepreneurship is a favorable career option thereby reducing uncertainty that potential entrepreneurs face. However, these studies remain silent about the role of institutional context for these mechanisms. Applying an extended sender–receiver model, we hypothesize that observing entrepreneurs reduces fear of failure in others in environments where approval of entrepreneurship is high, while this effect is significantly weaker in low-approval environments. Taking advantage of the natural experiment from recent German history and using data from the Global Entrepreneurship Monitor Project, we find considerable support for our hypotheses.
AB - Studies on the influence of entrepreneurial role models (peers) on the decision to start a firm argue that entrepreneurial role models in the local environment (1) provide opportunities to learn about entrepreneurial tasks and capabilities, and (2) signal that entrepreneurship is a favorable career option thereby reducing uncertainty that potential entrepreneurs face. However, these studies remain silent about the role of institutional context for these mechanisms. Applying an extended sender–receiver model, we hypothesize that observing entrepreneurs reduces fear of failure in others in environments where approval of entrepreneurship is high, while this effect is significantly weaker in low-approval environments. Taking advantage of the natural experiment from recent German history and using data from the Global Entrepreneurship Monitor Project, we find considerable support for our hypotheses.
KW - Communist legacy
KW - East Germany
KW - Entrepreneurial intentions
KW - Fear of failure
KW - Global Entrepreneurship Monitor
KW - Peer effect
KW - Role models
UR - http://www.scopus.com/inward/record.url?scp=84957426427&partnerID=8YFLogxK
U2 - 10.15488/1874
DO - 10.15488/1874
M3 - Article
AN - SCOPUS:84957426427
VL - 46
SP - 467
EP - 492
JO - Small business economics
JF - Small business economics
SN - 0921-898X
IS - 3
ER -