Abstract

This study explores the effect of bankruptcy laws on the quality of entrepreneurship and the moderating role of an entrepreneur’s socio-cognitions in it. By adopting the pursuit of innovative opportunities to represent the quality of entrepreneurship, we find that stringent bankruptcy laws inhibit an entrepreneur from pursuing more innovative opportunities, and this effect is mitigated by the entrepreneur’s self-efficacy but does not vary with fear of failure. The findings help draw a more comprehensive picture of the linkage between bankruptcy laws and entrepreneurship and advance our knowledge on factors that influence the choice among different types of opportunity. Moreover, this study is one of the first attempts to combine insights of the institution-based view of entrepreneurship and the social cognitive theory.

中文翻译：

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破产法、企业家的社会认知和对创新机会的追求

摘要

本研究探讨破产法对创业质量的影响以及企业家社会认知在其中的调节作用。通过用追求创新机会来代表创业质量，我们发现严格的破产法会抑制企业家追求更多的创新机会，这种影响会被企业家的自我效能感所缓解，但不会随着对失败的恐惧而改变。这些发现有助于更全面地了解破产法与创业之间的联系，并增进我们对影响不同类型机会选择的因素的了解。此外，这项研究是首次尝试将基于制度的创业观与社会认知理论相结合。