Betting on the wrong horse: The antecedents and outcomes of entrepreneur’s opportunity regret

Abstract

We examine opportunity regret, which entrepreneurs may feel as they compare their own new venture opportunities with superior opportunities others have realized. We conjecture opportunity regret will be associated negatively with entrepreneurs’ equity stake in the venture and work–life satisfaction. In addition, we predict entrepreneurs with high personal accountability and female entrepreneurs will be less likely to experience opportunity regret. Structural equations modeling analysis of data collected from entrepreneurs in the United States who have launched a new venture provided support for all hypotheses. In conclusion, we argue entrepreneurs must be aware of the Januslike nature of regret, which may encourage the reassessment and readjustment of identified opportunities but also may hinder the discovery of new opportunities.