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| Ruminative Thinking and Entrepreneurship Resilience in Entrepreneurial Failure Context：Evidence from the Internet Industry |
| Wang Ying1,Zhang Hongru2,Liang Qi2 |
| (1.Economic School of ChangZhou University；2.Business School of Changzhou University，Changzhou 213161，China) |
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Abstract Entrepreneurial success is not easy and failure is usually inevitable. For entrepreneurs, it is vial to stimulate resilience and quickly recover from failure so as to realize entrepreneurial expectations. As the ability to maintain mental health after negative events, resilience is often closely related to individual emotions and thinking styles, such as rumination. Rumination is a thinking activity that repeats the details of the thinking process after an individual experiences a negative event, and is closely related to future cognition, behavior and development. Most previous studies believe that rumination will increase the psychological burden of entrepreneurs, which is not conducive to their recovery from failure events and hinders entrepreneurial resilience. While this study argues that rumination is a multi-dimensional concept, and it includes intrusive rumination of a negative nature and active rumination of a positive nature. Therefore, the relationship between rumination and entrepreneurial resilience needs to be further studied.#br#This study believes that intrusive rumination emphasizes that entrepreneurs passively and continuously replay their failures in their minds, causing them to fall into repeated experiences and pent-up negative emotions such as self-blame and anxiety, which may reduce self-esteem and increase negative evaluation of entrepreneurial role performance. In addition, when entrepreneurs immersed in intrusive rumination are disturbed by negative cognition for a long time, it will not only make difficult to form the internal drive to solve problems, but also weaken the ability, trust and support of stakeholders, and induce self-denial or self-contempt. Entrepreneurs with low self-confidence lack the intrinsic motivation to resolve the crisis, and they will choose to retreat in the face of challenges, which has a negative effect on recovery and growth after failure. Entrepreneurs who take the initiative to ruminate focus on solving problems, evaluation and improvement of entrepreneurial failures. This thinking activity similar to contemplative learning will help to enhance the entrepreneur's problem-solving ability and self-confidence. Once the entrepreneur has a firm belief in overcoming adversity, self-efficacy will promote the entrepreneur's recovery, adjustment and improvement after failure from many aspects, such as initiating positive self-awareness, improving the level of effort to learn from failure, and maintaining a positive impression management motivation. These factors are positively promote entrepreneurial resilience.#br#This study defines entrepreneurial failure as the behavior of entrepreneurs failing to achieve their expected goals, terminating new ventures or withdrawing from new ventures. Compared with other industries, entrepreneurs in the Internet industry have the characteristics of high failure rate, rapid recovery and reorganization. Therefore，this study collects the data of entrepreneurs with entrepreneurial failure experience in the Internet industry in the Yangtze River Delta region (mainly including Suzhou, Wuxi, Shanghai and Hangzhou). By a questionnaire survey of 323 entrepreneurs with failure experience, it is found that intrusive rumination negatively affects entrepreneurial resilience by weakening self-efficacy; active rumination positively affects entrepreneurial resilience by strengthening self-efficacy; self-efficacy has mediating effect between rumination thinking and entrepreneurial resilience; social support not only regulates the relationship between the two types of ruminant thinking and self-efficacy, but also has a moderating effect on the mediating role of self-efficacy.#br#Further, it is found that entrepreneurial education design in management practice can encourage entrepreneurs to increase active rumination and benefit from failure. In addition, Social support helps entrepreneurs to increase the effectiveness of active rumination and promote entrepreneurial resilience. So, efforts should be made to build an objective and effective social support system to explore the financial subsidy system and special policy preferences for entrepreneurial failures, create a social culture that tolerates failure, etc.These measures can help entrepreneurs to promote entrepreneurial resilience. #br#Future research can examine the impact of social support consistency on entrepreneurial resilience; In future research, experimental methods or second-hand data can be used for comparative verification to improve the robustness of the conclusions. Moreover this study examines the effect of rumination on entrepreneurial resilience, but there are other important variables at the individual and situational levels, such as entrepreneurial commitment, social culture, etc. Future research can integrate these variables and conduct multi-level interactive research. Finally, this study uses the self-report method to collect data. The recall bias and subjective preferences of the respondents may question the objectivity of the data. Future research can use experimental methods or second-hand data for comparison and verification to improve the robustness of the conclusions.#br#
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Received: 08 December 2021
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