Beyond hubris: How highly confident entrepreneurs rebound to venture again

Mathew L.A. Hayward, William R. Forster, Saras D. Sarasvathy and Barbara L. Fredrickson

Journal of Business Venturing, 2010, vol. 25, issue 6, 569-578

Abstract: This article outlines why highly confident entrepreneurs of focal ventures are better positioned to start and succeed with another venture; and therefore why overconfidence in one's capabilities functionally persists and pervades amongst entrepreneurs. By combining cognitive perspectives on confidence in decision making with Fredrickson's [Fredrickson, B.L. 1998. What good are positive emotions?. Review of General Psychology, 2, 300-319.; Fredrickson, B.L. 2001. The role of positive emotions in positive psychology: the broaden-and-build theory of positive emotions. American Psychologist, 56, 218-226.; Fredrickson, B.L. 2003. The value of positive emotions. American Scientist, 91: 330-335] 'broaden-and-build' theory of positive emotions, this paper elaborates the manner in which such entrepreneurs can develop emotional, cognitive, social and financial resilience that can be marshaled and mobilized for a subsequent venture.

Keywords: Confidence; Resilience; Serial; entrepreneurship (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (93)

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