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Does fear of failure affect entrepreneurial growth aspirations? The moderating role of institutional collectivism in emerging and developed countries

Maria Cecilia Henriquez-Daza (Department of Organization Management, Pontificia Universidad Javeriana, Cali, Colombia)
Joan-Lluís Capelleras (Department of Business, Universitat Autònoma de Barcelona, Barcelona, Spain)
Fabian Osorio-Tinoco (Department of Organization Management, Pontificia Universidad Javeriana, Cali, Colombia)

Journal of Entrepreneurship in Emerging Economies

ISSN: 2053-4604

Article publication date: 28 March 2023

Issue publication date: 19 July 2024

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Abstract

Purpose

Based on social cognitive theory, this study aims to analyze the impact of fear of failure on entrepreneurs’ growth aspirations, the moderating role of collectivist institutional culture and the differences between emerging and developed countries.

Design/methodology/approach

Using the Global Entrepreneurship Monitor and the Global Leadership and Organizational Behavior Effectiveness databases for 27 developed and 15 emerging countries, and Global Leadership and Organizational Behavior Effectiveness, the authors apply multilevel model with individual-level and country-level variables.

Findings

The fear of failure has a negative impact on growth aspirations and that impact differs between developed and emerging countries. One of the main conclusions is that collectivist culture mitigates the negative impact of fear of failure on growth aspirations, and that this result is significant only in emerging countries.

Originality/value

The authors introduce a boundary condition for this study’s predictions, showing that in emerging countries, contrary to developed countries, the moderator effect of cultural context contributes to growth aspirations, despite the entrepreneur’s fear of failure.

Keywords

Acknowledgements

Partial financial support was received from project #20100696 – Pontificia Universidad Javeriana Cali- Colombia. Joan-Lluís Capelleras acknowledges support from project PID2020-114460GB-C31 (Spanish Ministry of Science and Innovation).

Citation

Henriquez-Daza, M.C., Capelleras, J.-L. and Osorio-Tinoco, F. (2024), "Does fear of failure affect entrepreneurial growth aspirations? The moderating role of institutional collectivism in emerging and developed countries", Journal of Entrepreneurship in Emerging Economies, Vol. 16 No. 5, pp. 1213-1234. https://doi.org/10.1108/JEEE-08-2022-0232

Publisher

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Emerald Publishing Limited

Copyright © 2023, Emerald Publishing Limited

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