The DOI matches its Crossref record; 8 of the 8 references it cites were found in a registry or an index.
A Hubris Theory of Entrepreneurship
Abstract
This paper develops a hubris theory of entrepreneurship to explain why so many new ventures are created in the shadow of high venture failure rates: More confident actors are moved to start ventures, and then act on such confidence when deciding how to allocate resources in their ventures. Building on theory and evidence from the behavioral decision-making literature, we describe how founders’ socially constructed confidence affects the manner in which they interpret information about their prior and current ventures. We then link founders’ propensity to be overconfident to their decisions to allocate, use, and attain resources. In our model, founders with greater socially constructed confidence tend to deprive their ventures of resources and resourcefulness and, therefore, increase the likelihood that their ventures will fail.
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Citations
Cites
Managing Legitimacy: Strategic and Institutional Approaches
Suchman, M. C. (1995) · The Academy of Management Review · doi:10.2307/258788 · Cited by 19,903
Illusion and well‐being: A social psychological perspective on mental health
Taylor, S. E., & Brown, J. D. (1988) · Psychological Bulletin · doi:10.1037/0033-2909.103.2.193 · Cited by 7,814
Differentiation and Integration in Complex Organizations
Lawrence, P. R., & Lorsch, J. W. (1967) · Administrative Science Quarterly · doi:10.2307/2391211 · Cited by 3,937
Task complexity: Definition of the construct
Wood, R. E. (1986) · Organizational Behavior and Human Decision Processes · doi:10.1016/0749-5978(86)90044-0 · Cited by 1,393 · cited 2×
“For example, some industries have high environmental complexity, whereby founders consider a large number of relevant factors in making judgments (Dess and Beard 1984; Wood 1986, p. 375).”
BackgroundPatents and Innovation: An Empirical Study
Mansfield, E. (1986) · Management Science · doi:10.1287/mnsc.32.2.173 · Cited by 1,128
Subjective Construal, Social Inference, and Human Misunderstanding
Griffin, D. W., & Ross, L. (1991) · Advances in Experimental Social Psychology · doi:10.1016/s0065-2601(08)60333-0 · Cited by 404
Self-citationLichtenstein, S., & Fischhoff, B. (1980) · Organizational Behavior and Human Performance · doi:10.1016/0030-5073(80)90052-5 · Cited by 375
The calibration of expert judgment: heuristics and biases beyond the laboratory
Koehler, D. J., Brenner, L., & Griffin, D. (2002) · Heuristics and Biases · doi:10.1017/cbo9780511808098.041 · Cited by 146
Self-citation
Cited by
Does self-efficacy affect entrepreneurial investment?
Cassar, G., & Friedman, H. (2009) · Strategic Entrepreneurship Journal · doi:10.1002/sej.73 · Cited by 255
Baron, R. A., Mueller, B. A., & Wolfe, M. T. (2016) · Journal of Business Venturing · doi:10.1016/j.jbusvent.2015.08.002 · Cited by 185
Overconfidence among beginners: Is a little learning a dangerous thing?
Sanchez, C., & Dunning, D. (2018) · Journal of Personality and Social Psychology · doi:10.1037/pspa0000102 · Cited by 177
Optimism, overconfidence and entrepreneurial activity
Trevelyan, R. (2008) · Management Decision · doi:10.1108/00251740810890177 · Cited by 165
Self‐regulation and effort in entrepreneurial tasks
Trevelyan, R. (2011) · International Journal of Entrepreneurial Behavior & Research · doi:10.1108/13552551111107507 · Cited by 70
Metadata
- Authors
- Hayward, M. L. A., Shepherd, D. A., & Griffin, D.
- Venue
- Management Science
- Published
- 2006-02
- Volume
- 52
- Issue
- 2
- Pages
- 160-172
- ISSN
- 0025-1909 (ISSN-L)
- 1526-5501
- OpenAlex
- W2107753258
- Cited by
- 815
- References
- 8
- FWCI
- 36.46
- Type
- journal article
- Language
- en
- Open access
- closed
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