Maintaining life satisfaction when faced with multiple crisis episodes: the role of entrepreneurs’ goal orientation
International Journal of Entrepreneurial Behavior & Research
ISSN: 1355-2554
Article publication date: 11 April 2024
Abstract
Purpose
The aim is to understand how goal orientation may help entrepreneurs maintain life satisfaction when faced with multiple crisis episodes. To do so, the authors study the early impact of COVID-19 on the life satisfaction of entrepreneurs who were previously faced with venture distress.
Design/methodology/approach
Data on 164 Belgian entrepreneurs, who were faced with previous venture distress, are used. The analysis is quantitative, and uses survey data, in combination with databases. The survey was administered in the beginning of the COVID-19 pandemic (June 2020).
Findings
Entrepreneurs high in learning goal orientation are less likely, and those high in performance-avoidance orientation are more likely to experience a decline in life satisfaction. Additionally, the time span between the two crises moderates the relationship between learning goal orientation and life satisfaction. Particularly, entrepreneurs high in learning goal orientation are less likely to experience a decline in life satisfaction if more time has passed between venture distress and the COVID-19 crisis.
Practical implications
Often, entrepreneurs are faced with multiple episodes of distress. The authors study entrepreneurs who have been in venture distress before and are then confronted with the COVID-19 crisis. The study shows that goal orientation, which is a type of self-regulation, plays an important role in how entrepreneurs’ life satisfaction is affected. Also, the authors find that the time between distress events matters. These are important insights for practitioners, including entrepreneurs and support providers.
Originality/value
The study adds to the emerging discussion on the impact of crises on entrepreneurs. It studies life satisfaction (a measure of well-being) and complements studies that examine the impact of crises, on entrepreneurs’ actions and firm performance.
Keywords
Acknowledgements
The authors would like to thank Dyzo for the help in data access and collection and would like to express their gratitude to all participants to the survey used in this study. They would further like to thank the participants of the Babson Entrepreneurship Research Conference (2021-online edition), just as Yasmine Van Heghe for providing feedback and comments to an earlier version of the paper.
Citation
Knockaert, M., DeTienne, D., Coppens, K. and Lambrecht, J. (2024), "Maintaining life satisfaction when faced with multiple crisis episodes: the role of entrepreneurs’ goal orientation", International Journal of Entrepreneurial Behavior & Research, Vol. ahead-of-print No. ahead-of-print. https://doi.org/10.1108/IJEBR-09-2022-0834
Publisher
:Emerald Publishing Limited
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