Business failure and institutions in entrepreneurship: a systematic review and research agenda

Chong Kyoon Lee (), Johan Wiklund (), Alejandro Amezcua (), Tae Jun Bae () and Almantas Palubinskas ()
Additional contact information
Chong Kyoon Lee: James Madison University
Johan Wiklund: Syracuse University
Alejandro Amezcua: IESEG, LEM-CNRS 9221
Tae Jun Bae: Hanyang University
Almantas Palubinskas: Emlyon Business School

Small Business Economics, 2022, vol. 58, issue 4, No 13, 1997-2023

Abstract: Abstract Because entrepreneurship entails uncertainty, business failure is a common outcome for entrepreneurs. When entrepreneurs encounter business failure, they carry a financial, social, and emotional burden associated with the failure. However, the magnitude of this burden differs by institutions, influencing entrepreneurial decisions and behaviors. Although institutions governing the rules of business failure are a topic for a rapidly growing field of research, research on this topic is highly fragmented. Therefore, the purpose of this systematic review is to unpack the relationships between institutions—governing the rules of business failure—and entrepreneurial decisions/behaviors. The paper provides a fine-grained and comprehensive review of the relevant literature and develops an agenda to guide future research.

Keywords: Entrepreneurship; Business failure; Institution; Review; L26 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9)

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DOI: 10.1007/s11187-021-00495-4

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