Emotion Appraisals Driving the Formation of Opportunity Desirability and Feasibility Beliefs (WITHDRAWN)

Abstract

Desirability and feasibility beliefs about an entrepreneurial opportunity are antecedents of entrepreneurial action, but the way such beliefs form and the distinctive cognitive–emotional mechanisms underlying their formation remain unclear. Using evidence about belief-specific cognitive contents from an entrepreneurial action model and belief-specific cognitive processes from construal-level theory, the current study empirically demonstrates the need to disentangle desirability and feasibility opportunity beliefs; it also investigates the indirect effects of three distinct emotions (anger, fear, and happiness) on the formation of both desirability and feasibility beliefs, through the cognitive appraisals of controllability. An experimental study (N = 191) affirms the distinctiveness and interconnectedness of desirability and feasibility beliefs and reveals a significant, positive, direct effect of anger on opportunity desirability belief. Anger, fear, and happiness have significant, negative, indirect effects on desirability belief through cognitive appraisals of controllability; however, no significant indirect effects emerge from these three emotions to feasibility belief. The results thus shed new light on entrepreneurs’ inner cognitive and emotional belief formation processes.