A Study on the Influence of Entrepreneurial Failure on Risk Decision Making in Subsequent Entrepreneurship

Abstract

The costs of entrepreneurial failure generated in the occurrence of entrepreneurial failure. As the inevitable outcome of entrepreneurial failure, the failure costs influence the risk decision making in subsequent entrepreneurship. Based on the existing entrepreneurial failure research literature, the costs of entrepreneurial failure, entrepreneurial self-efficacy and risk decision making are all clearly defined. In addition, we study the influence of failure costs on risk decision making by introducing the moderating effect of entrepreneurial self-efficacy. The mechanism of action is not only discussed, but also the theoretical model is established. These theoretical bases are stabile foundation for the future empirical research.