“I can't get it out of my mind” - Why, how, and when crisis rumination leads entrepreneurs to act and pivot during crises

Bach Nguyen, Hai-Anh Tran, Ute Stephan, Ha Nguyen Van and Pham Thi Hoang Anh

Journal of Business Venturing, 2024, vol. 39, issue 4

Abstract: Why do some entrepreneurs pivot their business models in a crisis, while others are more passive? Integrating Conservation of Resources theory with work on crisis rumination, we developed a micro-level model to explain why entrepreneurs who are under strain due to a crisis, as indicated by experiencing crisis rumination, adopt an active approach – i.e., using active coping and engaging in pivoting. Moreover, prevention-focused entrepreneurs who are habitually more sensitive to losses are especially stimulated by crisis rumination to pivot to prevent (further) resource losses. We tested our model in an experiment and an eight-month longitudinal study with entrepreneurs during an inflation crisis.

Keywords: Rumination; Crisis; Active coping; Pivot; Regulatory focus (search for similar items in EconPapers)
JEL-codes: D9 I12 M13 (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S088390262400017X
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:jbvent:v:39:y:2024:i:4:s088390262400017x

DOI: 10.1016/j.jbusvent.2024.106395

Access Statistics for this article

Journal of Business Venturing is currently edited by S. Venkataraman

More articles in Journal of Business Venturing from Elsevier
Bibliographic data for series maintained by Catherine Liu ().