Research On The Impact Of Entrepreneurial Failure Cost On Entrepreneurs' Re-Entrepreneurship Intention

Nowadays,in the context of economic boom,“Widespread Entrepreneurship and Innovation” has already become the mainstream.Both the rapid development of Internet and continuous innovation in science and technology contribute to providing a favorable environment for entrepreneurs to start their own businesses,which leads to a huge increase in the number the people who engaged in entrepreneurship accordingly.The failure of entrepreneurship would be accompanied by corresponding costs,including aspects of financial stuff,personal mindset as well as social relations.Those costs will have such a significant impact on entrepreneurs' future career planning that they have to consider whether to start businesses again.In China,the case is not common that many entrepreneurs could be successful in the first start up,but it's not uncommon for entrepreneurs to make a comeback after learning lessons from their previous failures.Restarting a business after failure has become the important driving force for the nation's economic development.Currently,most case studies in entrepreneurship failure focus on the factor analysis and research study of failure itself,which still stays on the first stage of entrepreneurship,so there is a lack of research in restarting businesses after failure.Existing studies in entrepreneurship failure and re-entrepreneurial intention lack a deep insight into the mechanism of function,which is not conductive to the study of theory in entrepreneurship failure.Based on the theory of entrepreneurial failure and the grief recovery theory,this paper establishes a model via theoretical deduction that uses entrepreneurial failure learning as a mediator variable and the grief recovery mechanism as a moderator variable to deeply dig into the relationship between entrepreneurship failure and the willingness of restarting businesses again.This article mainly answers the following questions:(1)What are the costs of entrepreneurial failure cost,and how does the cost of each dimension affect the entrepreneur's re-entrepreneurial intention;(2)How does the failure cost suffered by the entrepreneur affect the entrepreneur's failure to learn How different dimensions of entrepreneurial failure learning affect entrepreneurs' re-entrepreneurial intention;(3)What dimensions do grief recovery orientations have,and what is the role of different recovery orientations in the cost of entrepreneurial failure and entrepreneurial failure learning.A total of 247 questionnaires were collected as valid questionnaires,and the data were analyzed by SPSS 22.0 then used to perform model testing.This study clarifies the mechanism in different dimensions of entrepreneurial failure cost on re-entrepreneurial intention,reveals the intermediary role of entrepreneurial failure learning between entrepreneurship failure and re-entrepreneurial intention,as well as the moderating role of grief recovery orientation among entrepreneurship failure,entrepreneurial failure learning and the willingness of restarting businesses,which enriches the current theory of entrepreneurship failure,and also provides profound inspirations for entrepreneurs to get over failures and start up again.