TY - JOUR
T1 - Business failure and institutions in entrepreneurship
T2 - a systematic review and research agenda
AU - Lee, Chong Kyoon
AU - Wiklund, Johan
AU - Amezcua, Alejandro
AU - Bae, Tae Jun
AU - Palubinskas, Almantas
N1 - Publisher Copyright:
© 2021, The Author(s), under exclusive licence to Springer Science+Business Media, LLC, part of Springer Nature.
PY - 2022/4
Y1 - 2022/4
N2 - Because entrepreneurship entails uncertainty, business failure is a common outcome for entrepreneurs. When entrepreneurs encounter business failure, they carry a financial, social, and emotional burden associated with the failure. However, the magnitude of this burden differs by institutions, influencing entrepreneurial decisions and behaviors. Although institutions governing the rules of business failure are a topic for a rapidly growing field of research, research on this topic is highly fragmented. Therefore, the purpose of this systematic review is to unpack the relationships between institutions—governing the rules of business failure—and entrepreneurial decisions/behaviors. The paper provides a fine-grained and comprehensive review of the relevant literature and develops an agenda to guide future research.
AB - Because entrepreneurship entails uncertainty, business failure is a common outcome for entrepreneurs. When entrepreneurs encounter business failure, they carry a financial, social, and emotional burden associated with the failure. However, the magnitude of this burden differs by institutions, influencing entrepreneurial decisions and behaviors. Although institutions governing the rules of business failure are a topic for a rapidly growing field of research, research on this topic is highly fragmented. Therefore, the purpose of this systematic review is to unpack the relationships between institutions—governing the rules of business failure—and entrepreneurial decisions/behaviors. The paper provides a fine-grained and comprehensive review of the relevant literature and develops an agenda to guide future research.
KW - Business failure
KW - Entrepreneurship
KW - Institution
KW - Review
UR - http://www.scopus.com/inward/record.url?scp=85105494662&partnerID=8YFLogxK
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U2 - 10.1007/s11187-021-00495-4
DO - 10.1007/s11187-021-00495-4
M3 - Article
AN - SCOPUS:85105494662
SN - 0921-898X
VL - 58
SP - 1997
EP - 2023
JO - Small Business Economics
JF - Small Business Economics
IS - 4
ER -