Influence Of Entrepreneurial Failure Experience On Subsequent Entrepreneurial Intention

Entrepreneurial activities are becoming increasingly popular all around China. Although China has witnessed the rapid development of entrepreneurship these years, there is no denying that the proportion of entrepreneurial success is not as high as we expect, especially these nascent entrepreneurs. Entrepreneurial failure might bring tremendous damage to entrepreneurs physically and psychologically; however, it also offers entrepreneurs a chance to do self-examination and enhance relevant skills, which would improve the success rate of subsequent entrepreneurial activities in the long run. From extant studies, there are few researchers who have explored the relationship between entrepreneurial failure experiences and subsequent entrepreneurial intentions. Given the significance of failure, this paper discusses whether entrepreneurial failure experiences would influence subsequent entrepreneurial intentions; if yes, how.Based on review of relevant literatures and mature scales, we establish our model and hypothesis, and advance measuring tools of variables in our research. We collecte data by questionnaire, and the samples are entrepreneurs who have experienced failure.230questionnaires are distributed and196are collected, within which159questionnaires are valid to our research. We use correlation coefficient analysis and regression analysis to deal with the data, and the findings are as follow.1. The dimensionalities of entrepreneurial self-efficacy, subsequent entrepreneurial intention and emotional intelligence under the entrepreneurial failure scenario are proved. Also, a formative model of entrepreneurial failure has been advanced.2. The degree of how serious the failure is and subsequent entrepreneurial intention are negatively associated; the degree of how entrepreneurs can foresee the failure and subsequent entrepreneurial intention are positively associated; the inverse U-shape relationship between the times of failure and subsequent entrepreneurial intention is not proved. 3. Several dimensionalities of entrepreneurial self-efficacy play as a mediator veriable between the degree of how serious the failure is and subsequent entrepreneurial intention, and the degree of how entrepreneurs can foresee the failure and subsequent entrepreneurial intention, respectively. Emotional intelligence plays as a moderator variable between the degree of how entrepreneurs can foresee the failure and subsequent entrepreneurial intention.Based on these finding, we explaine the contribution to theory development and social practice. Also the shortage of this research and suggestions for future research are highlighted.