The Study On The Relationship Between Entrepreneurial Failure Cost And Re-enter Intention Of Entrepreneur

In the background of mass entrepreneurship and innovation,entrepreneurial activities in China is very active,but correspondingly,failure rate of venture enterprises is also high.Costs associated with entrepreneurial failure,including financial cost,psychological cost and social cost,are key factors whether entrepreneurs start a business again,and importantly influence the entrepreneurs'future occupation decision or tendency.The existing research discussed how entrepreneurial failure affects the subsequent behavior of entrepreneurs mainly from the failure attribution,learning and emotion management approach,but ignored the relationship between the cost of entrepreneurial failure and re-enter intention.In fact,the cost of entrepreneurial failure and emotional coping of entrepreneurs,including problem-focused orientation and emotion-focused orientation,all can make the change of entrepreneur's cognitive and psychological condition,thus affecting the entrepreneurs' resilience and re-enter intention.However,the existing studies seldom use entrepreneurs ' resilience and re-enter intention in failure situations,in order to consider how it works,thus there is a lack of clear understanding of the intrinsic mechanism of entrepreneurial failure cost on re-enter intention.It leads to scholars hold different views on impact of entrepreneurial failure in theory,and it is not conducive to entrepreneurs and the outsiders to correctly evaluate entrepreneurship failure in practice.Based on theory of entrepreneurial failure and resilience,this paper explores the relationship between different types of entrepreneurial failure cost and re-enter intention of entrepreneurs that entrepreneur resilience is used as the mediator and emotional coping as the moderator through the review of literature and consideration of reality.We conducted a questionnaire survey of the failed entrepreneurs,and analysis 221 effective questionnaires through SPSS20.0 and Amos 17.0 to verify the model and hypothesis proposed in this study.The results show the following conclusions:firstly,there is significant inverted U-shaped relationship between financial cost and entrepreneur resilience,the psychological costs and social costs have significant negative influence on entrepreneur resilience,and entrepreneur resilience have a significant positive influence on re-enter intention of entrepreneur;secondly,entrepreneur resilience mediates the relationship between the failure cost and re-enter intention of entrepreneur;finally,emotional coping,namely problem-focused orientation and emotion-focused orientation,moderates the negative relationship between psychological and social costs and entrepreneur resilience,but does not moderate the inverted U-shaped relationship between financial costs and entrepreneurial resilience.The conclusions of this paper has an important theoretical contribution for the research of re-enter intention of entrepreneurs,and have important practical value to encourage failure entrepreneurs reasonable evaluate of the cost and cope with entrepreneurial failure,and advocate the community to treat failure with leniency.