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.
| Original language | English |
|---|---|
| Pages (from-to) | 1997-2023 |
| Number of pages | 27 |
| Journal | Small Business Economics |
| Volume | 58 |
| Issue number | 4 |
| DOIs | |
| Publication status | Published - 30 Apr 2021 |
Funding
The authors are grateful to Dr. J. Hessels and two anonymous reviewers for their kind support during the four revision periods in 2.5 years.
Keywords
- Business failure
- Entrepreneurship
- Institution
- Review
ASJC Scopus subject areas
- General Business,Management and Accounting
- Economics and Econometrics