Abstract
Abstract: This study explores the effect of bankruptcy laws on the quality of entrepreneurship and the moderating role of an entrepreneur’s socio-cognitions in it. By adopting the pursuit of innovative opportunities to represent the quality of entrepreneurship, we find that stringent bankruptcy laws inhibit an entrepreneur from pursuing more innovative opportunities, and this effect is mitigated by the entrepreneur’s self-efficacy but does not vary with fear of failure. The findings help draw a more comprehensive picture of the linkage between bankruptcy laws and entrepreneurship and advance our knowledge on factors that influence the choice among different types of opportunity. Moreover, this study is one of the first attempts to combine insights of the institution-based view of entrepreneurship and the social cognitive theory.
| Original language | English |
|---|---|
| Pages (from-to) | 1005-1022 |
| Number of pages | 18 |
| Journal | Small Business Economics |
| Volume | 59 |
| Issue number | 3 |
| DOIs | |
| State | Published - Oct 2022 |
Keywords
- Bankruptcy laws
- Fear of failure
- Opportunity type
- Self-efficacy
- The institution-based view of entrepreneurship
- The quality of entrepreneurship
- The social cognitive theory
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