Searching for Success—Entrepreneurs’ Responses to Crowdfunding Failure

Piening, Erk P.; Thies, Ferdinand; Wessel, Michael; Benlian, Alexander (2021). Searching for Success—Entrepreneurs’ Responses to Crowdfunding Failure Entrepreneurship Theory and Practice, 45(3), pp. 626-657. Sage Publishing 10.1177/1042258720980710

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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.

Item Type:	Journal Article (Original Article)
Division/Institute:	Business School
Name:	Piening, Erk P.; Thies, Ferdinand0000-0003-3379-302X; Wessel, Michael and Benlian, Alexander
ISSN:	10422587
Publisher:	Sage Publishing
Language:	English
Submitter:	Dr. Ferdinand Thies
Date Deposited:	09 Feb 2022 09:31
Last Modified:	09 Feb 2022 09:31
Publisher DOI:	10.1177/1042258720980710
ARBOR DOI:	10.24451/arbor.15511
URI:	https://arbor.bfh.ch/id/eprint/15511