Who Feels No Fear? Exploring The Drivers of Entrepreneurial Fear of Failure Among Non-Entrepreneurs in Slovakia

IF 1.6 Q3 BUSINESS Central European Business Review Pub Date : 2021-10-31 DOI:10.18267/j.cebr.287
Marian Holienka, Diana Suchankova, P. Pšenák
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引用次数: 1

Abstract

Failure is an inseparable part and probably the most likely outcome of entrepreneurial activity. Fear of failure is among the key factors that hinder individual entry to the entrepreneurial path. While entrepreneurship literature mostly deals with its consequences, considerably lower attention has been paid to understanding its drivers. This is especially true in the Central European region, Slovakia not being exempt. Thus, our paper aims to fill this gap by analysing factors driving the entrepreneurial fear of failure among non-entrepreneur individuals in Slovakia. In doing so, we rely on the 2019 Global Entrepreneurship Monitor data for Slovakia and employ the ordinal logistic regression to test the hypothesised drivers of fear of failure among non-entrepreneur individuals. Our findings suggest that perceived entrepreneurial self-confidence and perceived ease of starting a business significantly reduce fear of failure. These factors are rather of an intrinsic and individual nature (the ‘I can do it’ factors). Further, in the case of non-entrepreneurs, these self-assessments usually result from expectations rather than from their own actual experience. Yet, the expectations themselves seem to be strong enough to affect the perceived level of fear of failure. We attribute this effect to the so-called failure feedback – an indication of a potential failure. Implications for Central European audience: Our study contributes to the debate on drivers of individual involvement in entrepreneurship and their specificity in the Central European context. We shed more light on factors influencing the fear of failure – one of the strongest barriers hindering individuals from starting a business. Despite focusing on Slovakia only, our study brings this topic to the table in the region. We contribute to the body of knowledge by suggesting potential patterns behind the fear of failure formation among the non-entrepreneur population, encouraging further investigation in the region and beyond, and proposing the practical implications for entrepreneurship policy, education, and training.
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谁无所畏惧?探索斯洛伐克非企业家对失败的恐惧驱动因素
失败是创业活动不可分割的一部分,也是最有可能的结果。对失败的恐惧是阻碍个人走上创业道路的关键因素之一。虽然创业文献大多关注其后果,但对其驱动因素的理解却少得多。中欧地区尤其如此,斯洛伐克也不例外。因此,我们的论文旨在通过分析驱动斯洛伐克非企业家个人对失败的创业恐惧的因素来填补这一空白。在此过程中,我们依靠2019年斯洛伐克全球创业监测数据,并采用有序逻辑回归来测试非企业家个人恐惧失败的假设驱动因素。我们的研究结果表明,感知到的创业自信和感知到的创业容易程度显著降低了对失败的恐惧。这些因素是内在的和个人的性质(“我能做到”的因素)。此外,在非企业家的情况下,这些自我评价通常来自期望,而不是来自他们自己的实际经验。然而,期望本身似乎足够强大,足以影响人们对失败的恐惧程度。我们把这种效应归因于所谓的故障反馈——一种潜在故障的指示。对中欧受众的影响:我们的研究有助于讨论个人参与创业的驱动因素及其在中欧背景下的特殊性。我们更多地揭示了影响失败恐惧的因素——这是阻碍个人创业的最大障碍之一。尽管我们的研究只关注斯洛伐克,但我们的研究将这一主题带到了该地区。我们通过提出在非企业家人群中形成失败恐惧背后的潜在模式,鼓励在该地区及其他地区进行进一步调查,并提出对创业政策、教育和培训的实际影响,从而为知识体系做出贡献。
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来源期刊
Central European Business Review
Central European Business Review Business, Management and Accounting-Business and International Management
CiteScore
3.10
自引率
7.70%
发文量
27
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