The purpose of this paper is to investigate how the fear of entrepreneurial failure, which is a obstacle to starting a business, influences entrepreneurial intention through a multidimensional approach. In addition, we investigated how entrepreneurshi...
The purpose of this paper is to investigate how the fear of entrepreneurial failure, which is a obstacle to starting a business, influences entrepreneurial intention through a multidimensional approach. In addition, we investigated how entrepreneurship played a role between the fear of entrepreneurial failure and entrepreneurial intention.
The results of this study are as follows. First, the fear of financial loss and the fear of career loss had a significant negative effect on the entrepreneurial intention, the fear of psychological loss did not have a significant effect. Second, with regard to the mediating role of entrepreneurship, innovativeness and proactiveness played a mediating role between the fear of career loss and entrepreneurial intention. And The risk-taking played a mediating role between the fear of financial loss and entrepreneurial intention.
Fear of failure to start a business in Korea can be more important in terms of financial aspect and career than psychological factor. Therefore, in order to alleviate the fear of financial loss, it is necessary to support the start-up funding method by investment method rather than the loan method which can be linked to the life breakdown such as bad credit in case of failure to start up. Also, in order to reduce the fear of career loss, it is necessary to make a policy and social atmosphere that can favor a start-up loser when he chooses employment after failure and also to have a system for re-startup.