Document Type
Journal Article
Publication Title
International Entrepreneurship and Management Journal
Volume
20
First Page
1617
Last Page
1647
Publisher
Springer
School
School of Business and Law
RAS ID
65778
Funders
Open Access funding enabled and organized by CAUL and its Member Institution
Abstract
This paper investigates how family events interacting with entrepreneurs’ psychological affect and overconfidence impact new venture viability. We use panel data from the Australian Household, Income and Labor Dynamics survey, focusing on family event-induced psychological affect entrepreneurs experience as a predictor of new venture survival. Our accelerated failure time model shows that although negative family events interact with entrepreneur overconfidence to spur cautious behaviour, positive events interacting with overconfidence have the biggest impact (negative) on new ventures. The study enhances our understanding of the embeddedness of family in the entrepreneurial process and challenges past research by revealing how positive family events can have a greater negative impact on new venture survival than negative ones.
DOI
10.1007/s11365-024-00970-w
Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 License.
Comments
Seet, P. S., & Tan, W. L. (2024). The impact of positive and negative psychological affect and overconfidence from major family events on new venture survival. International Entrepreneurship and Management Journal, 20, 1617-1647. https://doi.org/10.1007/s11365-024-00970-w