Weitere Artikel dieser Ausgabe durch Wischen aufrufen
A new venture is likely to be perceived as either an opportunity or a risk. People also vary in their subjective judgment of the probability of a new venture’s success. From an affective approach, this study investigates how people’s feelings about the outcomes of a venture affect their subjective judgment on the value and probability of founding a new business. It was found that an entrepreneur’s hope of creating a successful new venture significantly increases the attractiveness and perceived success likelihood of the new venture. Those who show less fear of failure and lower surprise for the success tend to view a new venture as an opportunity. Those who show less anger, regret, and higher contempt of failure and lower surprise of success as well as lower trait sadness judge a higher subjective probability for the success of founding a new firm. These findings reveal entrepreneurs’ initiatives in economic activities. Positive and negative implications are discussed, particularly for entrepreneurial activities in China.
Bitte loggen Sie sich ein, um Zugang zu diesem Inhalt zu erhalten
Sie möchten Zugang zu diesem Inhalt erhalten? Dann informieren Sie sich jetzt über unsere Produkte:
Ashton-James, C. E., & Ashkanasy, N. M. 2008. Affective events theory: A strategic perspective. In W. J. Zerbe, C. E. J. Hartel & N. M. Ashkanasy (Eds.). Research on emotion in organizations, 4: Emotions, ethics, and decision-making: 1–34. Oxford: Elsevier. CrossRef
Ahlstrom, D., Bruton, G., & Yeh, K. S. 2008. Private firms in China: Building legitimacy in an emerging economy. Journal of World Business, 43: 385–399. CrossRef
Atkinson, J. W. 1957. Motivational determinants of risk-taking behavior. Psychological Review, 64: 359–372. CrossRef
Averill, J. 1996. Intellectual emotions. In R. Harre & W. G. Parrot (Eds.). The emotions: Social, cultural and biological dimensions: 24–38. London: Sage.
Bandura, A., & Schunk, D. H. 1981. Cultivating competence, self-efficacy, and intrinsic interest through proximal self-motivation. Journal of Personality and Social Psychology, 41: 586–598. CrossRef
Bagozzi, R. P., Dholakia, U. M., & Basuroy, S. 2003. How effortful decisions get enacted: The motivating role of decision processes, desires, and anticipated emotions. Journal of Behavior Decision Making, 16: 273–295. CrossRef
Baron, R. A. 1999. Counterfactual thinking and venture formation: The potential effects of thinking about “what might have been”. Journal of Business Venturing, 15: 79–91. CrossRef
Baron, R. A. 2008. The role of affect in the entrepreneurial process. Academy of Management Review, 33: 328–340.
Baron, R. A., & Ensley, M. D. 2006. Opportunity recognition as the detection of meaningful patterns: Evidence from comparisons of novice and experienced entrepreneurs. Management Science, 52: 1331–1344. CrossRef
Bell, D. 1982. Regret in decision making under uncertainty. Operations Research, 30: 961–981. CrossRef
Bell, D. 1985. Disappointment in decision making under uncertainty. Operations Research, 33:1–27. CrossRef
Berry, J. W., Poortinga, Y. H., Segall, M. H., & Dasen, P. R. 2002. Cross-cultural psychology: Research and applications. Cambridge: Cambridge University Press.
Bonifield, C., & Cole, C. 2007. Affective responses to service failure: Anger, regret, and retaliatory versus conciliatory responses. Marketing Letters, 18: 85–99. CrossRef
Bosma, N., & Harding, R. 2006. Global entrepreneurship monitor: Summary results. Wellesley: Babson College.
Bosman, R., & Winden, F. 2002. Emotional hazard in a power-to-take experiment. The Economic Journal, 112: 147–169. CrossRef
Brandstatter, E., Kuhberger, A., & Schneider, F. 2002. A cognitive-emotional account of the shape of the probability weighting function. Journal of Behavior Decision Making, 15: 79–100. CrossRef
Camille, N., Coricelli, G., Sallet, J., Pradat-Diehl, P., Duhamel, J., & Sirigul, A. 2004. The involvement of the orbitofrontal cortex in the experience of regret. Science, 304: 1167–1170. CrossRef
Cardon, M., Zietsma, C., Saparito, P., Matherne, B., & Davis, C. 2005. A tale of passion: New insights into entrepreneurship from a parenthood metaphor. Journal of Business Venturing, 20: 23–45. CrossRef
Carney 1998. A management capacity constraint? Obstacles to the development of the overseas Chinese family business. Asia Pacific Journal of Management, 15: 137–162. CrossRef
Carter, N., Gartner, W., Shaver, K., & Gatewood, E. 2003. The career reasons of nascent entrepreneurs. Journal of Business Venturing, 18: 13–39. CrossRef
Carroll, J., & Russell, J. 1996. Do facial expressions signal specific emotions? Judging emotion from the face in context. Journal of Personality and Social Psychology, 70: 205–218. CrossRef
Chen, X. Y., Rubin, H. K., Li, B. S., & Li, D. 1999. Adolescent outcomes of social functioning in Chinese children. International Journal of Behavior Development, 23: 199–223. CrossRef
Christensen, C. M., & Raynor, M. E. 2003. The innovators solution: Creating and sustaining successful growth. Boston: Harvard Business School Press.
Chua, R., Ingram, P., & Morris, M. 2008. From the head and the heart: Locating cognition- and affect-based trust in managers’ professional networks. Academy of Management Journal, 51: 436–452.
Clore, G. L., Gasper, K., & Garvin, E. 2001. Affect as information. In J. Forgas (Ed.). Affect and social cognition. New Jersey: LEA.
Cope, J. 2005. Toward a dynamic learning perspective of entrepreneurship. Entrepreneurship Theory and Practice, 29: 373–397. CrossRef
Cropanzano, R., Weiss, H. M., Hale, J. M. S., & Reb, J. 2003. The structure of affect: Reconsidering the relationship between negative and positive affectivity. Journal of Management, 29: 831–857.
Currim, I. S., & Sarin, R. K. 1984. A comparative evaluation of multiattribute comsumer preference models. Management Science, 30: 543–561. CrossRef
Damasio, A. R. 1994. Descartes’ error: Emotion, reason, and the human brain. New York: Putnam.
Delmar, F., & Shane, S. 2004. Legitimating first: Organizing activities and the survival of new venture. Journal of Business Venturing, 19: 385–410. CrossRef
Dimov, D. 2007. Beyond the single-person, single-insight attribution in understanding entrepreneurial opportunities. Entrepreneurship Theory and Practice, 31: 713–731. CrossRef
Dunn, J., & Schweitzer, M. 2005. Feeling and believing: The influence of emotion on trust. Journal of Personality and Social Psychology, 88: 736–748. CrossRef
Ekman, P., Sorenson, E. R., & Friesen, W. V. 1969. Pan-cultural elements in facial displays of emotion. Science, 164: 86–88. CrossRef
Ellsworth, P. 1991. Some implications of cognitive appraisal theories of emotion. In K. T. Strongman (Ed.). International review of research on emotion: 143–161. New York: Wiley.
Finucane, M., Peters, E., & Slovic, P. 2003. Judgment and decision making: The dance and affect and reason. In S. Schneider & J. Shanteau (Eds.). Emerging perspectives on judgment and decision research: 327–365. New York: Cambridge University Press.
Fischhoff, B., Slovic, P., & Lichtensterin, S. 1978. Faulty trees: Sensitivity of estimated failure probabilities to problem representation. Journal of Experimental Psychology: Human Perception and Performance, 4: 330–334. CrossRef
Forgas, J. P. 1991. Affect and social judgments: An introductory review. In J. P. Forgas (Ed.). Emotion and social judgments: 3–29. Oxford: Pergamon Press.
Fox, C. R. 1999. Strength of evidence, judged probability, and choice under uncertainty. Cognitive Psychology, 38: 167–189. CrossRef
Frijda, N. H. 1986. The emotions. Cambridge: Cambridge University Press.
Gibb, A. 2002. In pursuit of a new “enterprise” and “entrepreneurship” paradigm for learning: Creative destruction, new values, new ways of doing things and new combinations of knowledge. International Journal of Management Reviews, 4: 233–269. CrossRef
Gigerenzer, G., Hoffrage, U. H., & Kleinbolting, H. 1991. Probabilistic mental models: A Brunswikian theory of confidence. Psychological Review, 98: 506–528. CrossRef
Goss, D. 2005. Schumpeter’s legacy? Interaction and emotions in the sociology of entrepreneurship. Entrepreneurship Theory and Practice, 29: 205–218. CrossRef
Harman, M. M. 1967. Modern factor analysis. Chicago: University of Chicago Press.
Harrison, R., & March, J. 1984. Decision making and postdecision surprise. Administrative Science Quarterly, 29: 26–42. CrossRef
Isen, A. M., Nygren, T. E., & Ashby, F. G. 1988. Influence of positive affect on the subjective utility of gains and losses: It is just not worth the risk. Journal of Personality and Social Psychology, 55: 710–717. CrossRef
Izard, C. E., & Ellis, C. 1971. The face of emotions. New York: Appleton-Century-Crofts.
James, W. 1884. What is an emotion?. Mind, 9: 188–205. CrossRef
Kahneman, D., & Lovallo, D. 1993. Timid choices and bold forecasts: A cognitive perspective on risk taking. Management Science, 39: 17–31. CrossRef
Kahneman, D., & Miller, D. T. 1986. Norm theory comparing reality to its alternatives. Psychological Review, 93: 136–153. CrossRef
Kahneman, D., & Tversky, A. 1979. Prospect theory: An analysis of decisions under risk. Econometrica, 47: 263–291. CrossRef
Kahneman, D., & Tversky, A. 1982. The simulation heuristic. In D. Kahneman, P. Slovic & A. Tversky (Eds.). Judgment under uncertainty: Heuristics and biases: 201–208. New York: Cambridge University Press.
Kahneman, D., Slovic, P., & Tversky, A. (Eds.) 1982. Judgment under uncertainty: Heuristics and biases. New York: Cambridge University Press.
Knight, F. 1921. Risk, uncertainty and profit. New York: Kelley.
Landman, J. 1987. Regret and elation following action and inaction: Affective responses to positive versus negative outcomes. Personality and Social Psychology Bulletin, 13: 524–536. CrossRef
Landman, J. 1993. Regret: The persistence of the possible. New York: Oxford University Press.
Lazarus, R. S. 1991. Progress on a cognitive-motivational-relational theory of emotion. American Psychologist, 46: 819–834. CrossRef
Lazarus, R. S. 2000. Toward better research on stress and coping. American Psychologist, 55: 665–673. CrossRef
Lazarus, R. S., & Smith, C. 1988. Knowledge and appraisal in the cognition—emotion relationship. Cognition and Emotion, 2: 281–300. CrossRef
Lerner, J. S., & Keltner, D. 2000. Beyond valence: Toward a model of emotion-specific influences on judgment and choice. Cognition and Emotion, 14: 473–493. CrossRef
Li, Y. 2008a. Risk taking in the gain domain: A predictive decision model of new venture creation. Presented at the Academy of Management Annual Meeting, Anaheim, US, August.
Li, Y. 2008b. Emotional rationality on decision-making under uncertainty. Presented at the Academy of Management Annual Meeting, Anaheim, US, August.
Li, Y., & Ahlstrom, D. 2007. Decomposing the effects of positive affect negative affect and multilevel drama of emotion on organizational commitment. Presented at the Asia Academy of Management Annual Meeting, Philadelphia, US, August.
Loewenstein, G., & Lerner, J. S. 2003. The role of affect in decision making. In R. J. Davidson, K. R. Scherer & H. H. Goldsmith (Eds.). The handbook of affective science: 619–642. Oxford: Oxford University Press.
Loewenstein, G. F., Weber, E. U., Hsee, C. K., & Welch, E. S. 2001. Risk as feelings. Psychological Bulletin, 127: 267–286. CrossRef
Loomes, G., & Sugden, R. 1982. Regret theory: An alternative theory of rational choice under uncertainty. Econometrics Journal, 92: 805–824.
Loomes, G., & Sugden, R. 1986. Disappointment and dynamic consistency in choice under uncertainty. Review of Economic Studies, 53: 271–282. CrossRef
Luthje, C., & Franke, N. 2003. The “making” of an entrepreneur: Testing a model of entrepreneurial intent among engineering students at MIT. R&D Management, 33: 135–147. CrossRef
Malatesta, C. Z., & Wilson, A. 1988. Emotion/cognition interaction in personality development: A discrete emotions, functionalist analysis. British Journal of Social Psychology, 27: 91–112.
Markman, G. D., Baron, R. A., & Balkin, D. B. 2005. Inventors and new venture formation: The effects of general self-efficacy and regretful thinking. Entrepreneurship Theory and Practice, 27: 149–165. CrossRef
McClelland, D. C. 1951. Personality. New York: Sloane. CrossRef
Medvec, V. H., Madey, S. F., & Gilovich, T. 1995. When less is more counterfactual thinking and satisfaction among Olympic medalists. Journal of Personality and Social Psychology, 69: 603–610. CrossRef
Mellers, B. A., Schwartz, A., Ho, K., & Ritov, I. 1997. Decision affect theory: Emotional reactions to the outcomes of risky options. Psychological Science, 8: 426–429. CrossRef
Moore, B. S., & Isen, A. M. 1990. Affect and social behavior. New York: Cambridge University Press.
Mullins, J. W., & Forlani, D. 2005. Missing the boat or sinking the boat: A study of new venture decision making. Journal of Business Venturing, 20: 47–69. CrossRef
Murphy, K. R. 1982. Assessing the discriminant validity of regression models and subjectively weighted models of judgments. Multivariate Behavioral Research, 17: 359–370. CrossRef
Parkinson, B., & Manstead, A. S. 1992. Appraisal as a cause of emotion. In M. S. Clark (Ed.). Review of personality and social psychology, 13: 122–149. Newbury Park: Sage.
Payne, J. W. 1982. Contingent decision behavior. Psychological Bulletin, 92: 382–402. CrossRef
Peng, M. W. 2001. How entrepreneurs create wealth in transition economies. Academy of Management Executive, 15: 95–108.
Plutchik, R. 1980. Emotion: A psychoevolutionary synthesis. New York: Harper & Row.
Podsakoff, P. M., MacKenzie, S. B., Lee, J. Y., & Podsakoff, N. P. 2003. Common method biases in behavioral research: A critical review of the literature and recommended remedies. Journal of Applied Psychology, 88: 879–903. CrossRef
Rauch, A., & Frese, M. 2000. Psychological approaches to entrepreneurial success. A general model and an overview of findings. In C. L. Cooper & I. T. Robertson (Eds.). International review of industrial and organizational psychology: 101–142. Chichester: Wiley.
Robinson, M. D., & Clore, G. L. 2002. Episodic and semantic knowledge in emotional self-report: Evidence for two judgment process. Journal of Personality and Social Psychology, 83: 198–215. CrossRef
Roseman, I. J. 1984. Cognitive determinants of emotions: A structural theory. In P. Shaver (Ed.). Review of personality and social psychology, 5: 11–36. Berkeley: Sage.
Roseman, I. J., Antoniou, A. A., & Jose, P. E. 1996. Appraisal determinants of emotions: Constructing a more accurate and comprehensive theory. Cognition and Emotion, 10: 241–277. CrossRef
Roseman, I. J., Wiest, C., & Swartz, T. S. 1994. Phenomenology, behaviors, and goals differentiate discrete emotions. Journal of Personality and Social Psychology, 67: 206–221. CrossRef
Russell, J. A. 1980. A circumplex model of affect. Journal of Personality and Social Psychology, 39: 1161–1178. CrossRef
Savage, L. 1954. The foundations of statistics. New York: Wiley.
Schank, R. C., & Abelson, R. P. 1995. Knowledge and memory: The real story. In R. Wyer (Ed.). Advances in cognition, 3: 1–87. Hillsdale: Erlbaum.
Scherer, K. R. 1988. Criteria for emotion-antecedent appraisal: A review. In V. Hamilton, G. H. Bower & N. H. Frijda (Eds.). Cognitive perspectives on emotion and motivation: 89–126. Dordrecht: Nijhoff.
Schumpeter, J. A. 1942. Socialism and democracy. New York: Harper.
Seo, M., & Barrett, L. 2007. Being emotional during decision-making—good or bad? An empirical investingation. Academy of Management Journal, 50: 923–940.
Shah, J., & Higgins, E. T. 1997. Expectancy value effects: Regulatory focus as determinant of magnitude and direction. Journal of Personality and Social Psychology, 73: 447–458. CrossRef
Shane, S., & Venkataraman, S. 2000. The promise of entrepreneurship as a field of research. Academy of Management Review, 25: 217–226. CrossRef
Sieck, W. R., Merkle, E. C., & Zandt, T. V. 2007. Option fixation: A cognitive contributor to overconfidence. Organizational Behavior and Human Decision Processes, 103: 68–83. CrossRef
Simon, H. A. 1959. Theories of decision-making in economics and behavioral science. The American Economic Review, 49: 253–283.
Slovic, P., Finucane, M., Peters, E., & MacGregor, D. G. 2002. The affect heuristic. In T. Gilovich, D. Griffin & D. Kahneman (Eds.). Heuristics and biases: The psychology of intuitive judgment: 397–420. New York: Cambridge University Press.
Snyder, C., Ilardi, S., Cheavens, J., Michael, S., Yamhure, L., & Sympson, S. 2000. The role of hope in cognitive-behavior therapies. Cognitive Therapy and Research, 24: 747–762. CrossRef
Svenson, O. 2003. Values, affect, and processes in human decision making: A differentiation and consolidation theory perspective. In S. L. Schneider & J. Shanteau (Eds.). Emerging perspectives on judgment and decision research: 287–326. Cambridge: Cambridge University Press.
Teigen, K. H., & Keren, G. 2003. Surprises: Low probabilities or high contrasts?. Cognition, 87: 55–71. CrossRef
Thompson, J. G. 1988. The psychobiology of emotions. New York: Plenum.
Tomkins, S. S., & McCarter, R. 1964. What and where are the primary affects? Some evidence for a theory. Perceptual and Motor Skills, 18: 119–158.
Tulving, E. 1984. Precis of elements of episodic memory. Behavioral and Brain Sciences, 7: 223–268. CrossRef
Tversky, A., & Koehler, D. J. 1994. Support theory: A nonextensional representation of subjective probability. Psychological Review, 101: 547–567. CrossRef
Utsch, A., Rauch, A., Rothfuss, R., & Frese, M. 1999. Who becomes a small scale entrepreneur in a post-socialist environment: On the differences between entrepreneurs and managers in East Germany. Journal of Small Business Management, 37: 31–42.
Watson, D., Clark, L., & Tellegen, A. 1988. Development and validation of brief measures of positive and negative affect: The PANAS scales. Journal of Personality and Social Psychology, 54: 1063–1070. CrossRef
Watson, J., & Everett, J. 1996. Do small businesses have high failure rates?. Journal of Small Business Management, 34: 45–62.
Wright, W. F., & Bower, G. H. 1992. Mood effects on subjective probability assessment. Organizational Behavior and Human Decision Processes, 52: 276–291. CrossRef
Wyer, R. S., Adaval, R., & Colcombe, S. J. 2002. Narrative-based representations of social knowledge: Their construction and use in comprehension, memory, and judgment. Advances in Experimental Social Psychology, 34: 131–150. CrossRef
Zajonc, R. B. 1980. Feeling and thinking: Preferences need no inferences. American Psychologist, 35: 151–175. CrossRef
Zeelenberg, M., Beattie, J., Plight, J., & Vries, N. K. 1996. Consequences of regret aversion: Effects of expected feedback on risky decision making. Organizational Behavior and Human Decision Process, 65: 148–158. CrossRef
- Emotions and new venture judgment in China
- Springer US
Neuer Inhalt/© Stellmach, Neuer Inhalt/© BBL, Neuer Inhalt/© Maturus, Pluta Logo/© Pluta, Neuer Inhalt/© hww, Best Practices zu agiler Qualität