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| A Study on the Mechanism of the Effect of Learning from Entrepreneurial Failure on Entrepreneurial Knowledge and New Venture Performance |
| Hao Xiling1,Zhu Zhaozhen2,Liu Yiran3,4 |
| (1.Anhui University of Finance & Economics, School of Business Administration; 2.Anhui University of Finance & Economics, School of Accounting, Bengbu 233030, China;3.School of Education, Tianjin University; 4.Research Center of Educational Science, Tianjin University, Tianjin 300071, China) |
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Abstract Entrepreneurial failure presents a situation where there is a deviation from expectations or the original goals, which is more likely to activate refection and learning. However, it is still unclear that the micro mechanism and path of how entrepreneurs learn to acquire more entrepreneurial knowledge to improve their performance. Basing on the unique nature of the entrepreneurial failure, this paper looks deep into the micro mechanism of entrepreneurial learning from failure. 203 valid questionnaires were used to test the hypothesis. Results show that the ways of entrepreneurial learning is divided into single loop learning and double loop learning. Single loop learning helps to obtain knowledge on opportunity recognition, while double loop learning facilitates obtaining knowledge on opportunity recognition, as well as coping liability of newness. Double loop learning is a more effective way to the acquisition of entrepreneurial knowledge than single loop learning. Results show that Entrepreneurs can perform better in subsequent entrepreneurial activities through double loop learning.
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Received: 13 March 2019
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