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.
RAS ID
65778
Document Type
Journal Article
Date of Publication
1-1-2024
Volume
20
Funding Information
Open Access funding enabled and organized by CAUL and its Member Institution
School
School of Business and Law
Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 License.
Publisher
Springer
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