• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.11 no.3
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• pp.49-61
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• 2016

This study investigates the relationship between fear of failure of potential entrepreneur's psychological characteristics and entrepreneurial intentions using the mediation variables of planned behavior model. There are many existing prior research related to the entrepreneurial intentions, but they were mostly focused only entrepreneurial success factors. So in this study we focused on fear of failure of potential entrepreneur. To know the influence of the fear of failure related to entrepreneurial intention, we using the scale of PFAI (Performances Failure Appraisal Inventory). The purpose of this study is to examine an impact of fear of failure on entrepreneurial intention and add to mediating factors - attitude toward the acts, subjective norm, perceived behavior control - on the relationship between fear of failure and entrepreneurial intention. Also we examined entrepreneurial education as moderating effect in order to offset the fear of failure. In order to test research model, we collected data from 321 undergraduate students. To test the research questions and hypotheses, we employed SPSS 21.0 anf AMOS 18.0 for validity, reliability, confirmatory factor analysis, and structural model analysis. The results were as follows. First, the fear of failure negatively related to attitude toward the behavior and subjective norm. Second, attitude toward the behavior and subjective norm positively related to entrepreneurial intention in consistent with previous studies. Third, attitude toward the acts and subjective norm in TPB variables have full-mediation effects between fear of failure and intrepreneurial intention. Fourth, The moderating effects of entrepreneurial effect was not significant. The negative relationship between fear of failure and attitude toward the acts and subjective norm was even slightly stronger who have taken the entrepreneurial class group. We discuss the theoretical and managerial implications, and provide suggestions for future research.

• Korean small business review
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• v.41 no.4
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• pp.65-86
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• 2019

This study empirically analyzed how the elements of entrepreneurship and the fear of entrepreneurial failure influence entrepreneurial intention with each other in a situation that encourages startups. In particular, the moderating effect of fear of entrepreneurial failure was verified by dividing the fear of entrepreneurial failure into three sub-variables: fear of financial loss, fear of psychological loss, and fear of career loss. As a result, it was found that proactiveness and risk-taking had a positive effect on entrepreneurial intention, but innovativeness did not. Fear of entrepreneurial failure(all of sub-variables) was found to have no significantly moderating effect on the relationship between entrepreneurship and entrepreneurial intention. Therefore it seemed to have a negative effect as a independent variable. However, considering the regression coefficient(β) is positive or negative depending on the interaction terms of the sub-variables of fear of entrepreneurial failure and the entrepreneurship, it could be inferred that the moderating effect could be positive or negative. Based on this research results, a sophisticated entrepreneurship education program to inspire entrepreneurship and lower the fear of failure is needed in order to promote startups. And at the same time, a social safety net construction plan to reduce the fear of entrepreneurial failure needs to be prepared.

• Journal of Digital Convergence
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• v.11 no.8
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• pp.143-157
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• 2013

The purpose of this study is firstly, to find out the factors of entrepreneurial intention in potential entrepreneurs, and secondly to examine the relationship between objective start-up environment and subjective recognition of start-up environment, and entrepreneurial intention. For this study, investigation has been done to find out if fear of business failure, that is notoriously high among Koreans, acts as an influential factor between objective start-up environment/subjective recognition of start-up environment and entrepreneurial intention. The data is collected from 335 respondents comprised of college students and adults who are interested in starting their own businesses. The results of this study are as follows : (1) Objective start-up environment and subjective recognition of start-up environment, which is self-efficacy, have a positive effect on entrepreneurial intention. (2) Fear of business failure mediates the relationship between objective start-up environment/subjective recognition of start-up environment, and entrepreneurial intention (3) Child-care system, as an explain variable in the objective start-up environment in this study, is an important factor in the process of entrepreneurial commitment.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.3
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• pp.51-76
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• 2022

Identifying the factors that influence the formation of the entrepreneurial intention is important in cultivating entrepreneurs and inducing entrepreneurial innovation in the country. Previous studies have mainly examined the direct effects of social cognition attributes as predictors on entrepreneurial intentions or entrepreneurial activities. However, the fundamental factors that these social cognition attributes are derived from have not been sufficiently addressed in the field of entrepreneurship. Based on social cognitive theory and schema theory, this study assumes that an individual's entrepreneurial experience is an important antecedent factor in forming social cognitive attributes, and reveals the mechanism for how experience forms entrepreneurial intention. To this end, this study analyzes the influence of entrepreneurs' prior experience of entrepreneurial activities on entrepreneurial self-efficacy, opportunity recognition, and fear of failure which are considered to be the main variables that shape entrepreneurial intention. And it analyzes how these factors have a significant effect on entrepreneurship intention. Along with this, the mediating role of these social cognitive attributes is analyzed in order to understand the path that leads from entrepreneurial experience to entrepreneurial intention. This study also suggests how gender moderates the effect of entrepreneurship experience on social cognitive attributes. As a result of the analysis, it was found that entrepreneurial experience increase entrepreneurial self-efficacy and opportunity recognition of entrepreneurs, and decrease the fear of failure. These social perception attribute significantly mediate the relationship between entrepreneurial experience and entrepreneurial intention. This study also found that there are significant moderating effects of gender on the relationship of entrepreneurial experience and both of entrepreneurial self-efficacy and fear of failure. This study also analyzed the impact of the entrepreneurial experience of failure, which corresponds to the detailed experience. Similar to the results of entrepreneurial experience analysis, entrepreneurial experience of failure plays a role in enhancing entrepreneurial self-efficacy. However, its effect on opportunity recognition and fear of failure were not significant. An empirical analysis of data related to 25,047 entrepreneurs from 87 countries, using the Global Entrepreneurship Monitor (GEM), shows the differences in the formation of individuals' entrepreneurial intentions according to entrepreneurial experience and the mediating role of social cognitive attributes. The study has embodied the social cognitive theory on entrepreneurial intention by shedding light on the variables that are important but alienated for increasing entrepreneurial intention. Moreover, the study enhances the understanding of cognitive processes leading from individual experiences to entrepreneurial intentions. This study also emphasizes the importance of differentiated approach by gender for boosting entrepreneurial intention through analysis of moderating effect of gender.

• Journal of Korea Society of Industrial Information Systems
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• v.22 no.5
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• pp.51-64
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• 2017

This Paper Aims to Provide Economic Implications to Activate College Start-ups by Performing an International Comparative Study on the Personality Characteristic Elements that Affect Entrepreneurial Intention of University Students. This Investigation Employed Entrepreneurial Self-efficacy, Entrepreneurial Preference, Desire of Achievement, and Fear of Failure as Personality Characteristic Factors. Furthermore, Social Perception was used as the Moderating Variable. The Result Shows that Entrepreneurial Self-efficacy and Entrepreneurial Preference had a Positive Effect, while fear of Failure had a Negative Effect on Entrepreneurial Intention. Moreover, Desire of Achievement did not have any Effects. The Analysis of Moderating Effect of Social Perception between Personality Characteristics and Entrepreneurial Intention Shows that the Moderating Effect did not Appear.

• Journal of Venture Innovation
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• v.5 no.2
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• pp.35-48
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• 2022

This study was conducted to analyze the effect on entrepreneurial intention and empirically analyze which factors have the greatest influence. To this end, self-achievement motivation, indirect experience, role model, awareness of entrepreneurs, and fear of business failure were set as independent variables as factors influencing entrepreneurial intention. In order to empirically analyze this, 399 valid samples for the general public were analyzed. SPSS 25.0 was used for statistical analysis. As a result of the empirical analysis of this study, self-achievement motivation, indirect experience, role model, awareness of entrepreneurs, and fear of business failure all had a positive and significant effect on entrepreneurial intention. The results of this study confirmed that self-achievement motivation had the greatest influence among the factors affecting entrepreneurial intention. It is significant in that indirect experiences and role models such as theoretical entrepreneurship lectures, special entrepreneurship lectures, and parents or acquaintances influence entrepreneurial intention.

• Korean small business review
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• v.43 no.4
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• pp.59-93
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• 2021

This study surveyed 413 small business owners who experienced closure to see how the loss perception experienced by small business owners affects their comeback through fear of failure. The analysis results are as follows. First, the larger the received loss of financial capital, market capital, and social capital, the greater the fear of failure. Second, the greater the fear of failure, the less willingness to re-start-up, but it did not affect the willingness to work. Third, perceived loss of financial capital, market capital, and social capital grew fear of failure, which negatively affected the willingness to re-start. However, as for the willingness to work, only the perception of loss to market competitiveness strengthened the willingness to work through fear of failure. This suggests that if you think you are out of business due to market competitiveness, you are more likely to choose to get a job than to start a business. Fourth, those with higher entrepreneurial self-efficiency had less effect of perceived loss on fair of failure than those with lower entrepreneurial loss. In other words, it can be seen that a person with high entrepreneurial self-efficiency is likely to start-up. It is noteworthy that despite the tendency to fail due to market competition and lack of understanding of risks, small business operators were most aware of the loss of social capital. This is presumed to have had the greatest impact on fear of failure because small business owners try to receive funding or business revitalization support through social networks such as acquaintances and relatives. Based on the above results, this study requires sufficient market research to secure a competitive advantage when preparing for start-ups through policy practice suggestions, and suggests ways to reduce financial loss through the establishment of sophisticated business plans.

• Journal of Distribution Science
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• v.17 no.5
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• pp.5-17
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• 2019

Purpose - This study aims to exploratorily analyze relationship among pressure on business failure, social safety net perception, and entrepreneurial intention targeting potential business founders - pre-entrepreneurs and re-entrepreneurs. Research design, data, and methodology - Out of 450 collected surveys, 386 were used for analysis. Among these, 216 were from pre-entrepreneurs and 170 were from re-entrepreneurs. Frequency analysis, reliability and validity analysis, and regression analysis were performed. Results - In analysis of pre-entrepreneur and re-entrepreneur's pressure on business failure and social safety net perception, objective environment perception - a subfactor of social safety net perception - had statistically significant difference between the two potential entrepreneur groups. Conclusions - We categorized potential entrepreneurs into pre-entrepreneurs and re-entrepreneurs. Also, the current study suggests importance of social safety net to vitalize food service business startup by validifying its mediating effect between pressure on business failure and attitude towards restaurant business establishment. This research also established groundwork for future studies on ways to improve entrepreneurial intention or startup business sustainability by deducing social safety net perception difference between pre-entrepreneurs and re-entrepreneurs. This study was able to analyze relationship between those two groups in terms of entrepreneurial intention and startup business sustainability.

• The Journal of the Korea Contents Association
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• v.15 no.2
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• pp.393-407
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• 2015

This study is intended to look into the effects of small business startup environments on failure burden and startup failure. To achieve this, a survey was carried out to 300 small business CEOs in Seoul. The results were as follows. First, the effect of startup environments on failure burden showed that management environment, business environment, internal organizational environment and external organizational environment had a negative effect on failure burden. Second, the effect of startup environments on financial and non-financial losses showed that startup management environment, startup business environment and internal organizational environment had a negative effect on financial and non-financial losses. Third, the effect of failure burden on startup failure showed that failure burden had a positive effect on financial and non-financial losses. Consequently, this study indicates that internal organizational commitment and communication are important attributes affecting failure burden, financial and non-financial losses, compared with management quality, entrepreneurship and business environment.

• Knowledge Management Research
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• v.19 no.3
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• pp.135-171
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• 2018

Due to its nature, business foundation accompanies high levels of risk taking and responsibility. For this reason, entrepreneurs come to experience various negative emotions in the process of business foundation such as anxiety about risks, fear of failure, and pressure of success. However, entrepreneurs' negative emotions reduce individual inclinations for business foundation. Thus, it is necessary to research individual psychological characteristics that could reduce and attenuate entrepreneurs' negative emotions. To this end, this study examined the effects of Self-forgiveness, and Narcissism, psychological motivation variables, and Positive psychological capital and Career ambition, goal motivation variables, on entrepreneurial intentions. In order to verify research hypotheses, 326 questionnaires collected from prep-entrepreneurs were used for the empirical analysis. Looking at the analysis results, Self-forgiveness, Narcissism, Positive psychological capital and Career ambition had significant effects on entrepreneurial intentions. This study has a meaning in that it confirmed the influential relationship between the psychological characteristics reducing entrepreneurs' negative emotions and entrepreneurial intentions. In addition, this study suggested its implications, limitations, and future research directions based on the study results.