Searching for Success- Entrepreneurs' Responses to Crowdfunding Failure

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Piening, E. P., Thies, F., Wessel, M., & Benlian, A. (2021). Searching for Success- Entrepreneurs' Responses to Crowdfunding Failure. Entrepreneurship Theory and Practice, 45(3). (ABDC_2022: A*; ABS_2021: 4; VHB_3: A; FT_50_2016: yes)


Beitrag in wissenschaftlicher Fachzeitschrift


In this study, we seek to provide new insights into the process of problemistic search by examining entrepreneurs’ behavioral responses to failures. Using a comprehensive dataset of over 65,000 crowdfunding projects, we specifically explore how negative performance feedback influences entrepreneurs’ search distance. Our results demonstrate that the severity and persistence of failure have a U-shaped and inverted U-shaped relationship with search distance, respectively. Moreover, greater temporal distance between an entrepreneur’s failure experience and a subsequent crowdfunding project is not only associated with increases in search distance, but also attenuates the curvilinear main effects.


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Failure is an integral part of business life. Organizations are regularly confronted with various failure experiences that range from minor accidents, project failures, and performance problems in ... mehr



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