Abstract
The shame of entrepreneurial failure is a very common emotion for entrepreneurs, but its consequences have been limited to study. Based on the cognitive appraisal theory, this study investigates how the shame of entrepreneurial failure influence entrepreneurs’ psychological well-being, as well as the mechanism. This paper collects the data by tracking 96 entrepreneurs in Shandong Province, China who have experienced business failures by questionnaire. The results show that the shame of entrepreneurial failure is positively related to perceived stress, which then decreases an entrepreneur’s psychological well-being. Further, the indirect relationship between the shame of business failure and entrepreneurs’ psychological well-being (via perceived stress) will be moderated by the number of ventures started, such a relationship is less positive for those entrepreneurs who have more experience. This study contributes to the research of shame of failure in entrepreneurship, entrepreneurs’ well-being, and cognitive appraisal theory in entrepreneurship. In addition, this study also contributions to entrepreneurs, policymakers, and social media in practice.
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