Entrepreneurial failure: A synthesis and conceptual framework of its effects

Klimas, P.; Czakon, W.; Kraus, S.; Kailer, N.; Maalaoui, A.

Abstract

Failure is not the outcome which entrepreneurs strive for when they start their businesses. However, thousands of entrepreneurs fail each year, experiencing painful and damaging consequences in their professional and private lives. Current knowledge on entrepreneurial failure is quite fragmentary. Our study aims at integrating knowledge on the effects of entrepreneurial failure. Departing from a systematic literature review, we develop a multilevel framework of entrepreneurial failure effects which categorises: (1) their manifestations over time; (2) the directness of the link to the failure event; (3) the degree of impact on the failed entrepreneur; and (4) the level of long‐term outcomes generated. Our findings reveal a broad scope of multilevel impacts of entrepreneurial failure.

Citation

Klimas, P., Czakon, W., Kraus, S., Kailer, N., & Maalaoui, A. (2021). Entrepreneurial failure: A synthesis and conceptual framework of its effects. European Management Review, 18(1), 167-182. https://doi.org/10.1111/emre.12426

• Journal Article Type: Article
• Acceptance Date: Aug 2, 2020
• Online Publication Date: Aug 25, 2020
• Publication Date: 2021
• Deposit Date: Aug 3, 2020
• Publicly Available Date: Aug 27, 2020
• Journal: European Management Review
• Print ISSN: 1740-4754
• Electronic ISSN: 1740-4762
• Publisher: Wiley
• Peer Reviewed: Peer Reviewed
• Volume: 18
• Issue: 1
• Pages: 167-182
• DOI: https://doi.org/10.1111/emre.12426
• Public URL: https://durham-repository.worktribe.com/output/1264736