Beyond hubris: How highly confident entrepreneurs rebound to venture again

Mathew Hayward, William R Forster, Saras D Sarasvathy, Barbara L Fredrickson

Research output: Contribution to journalArticleResearchpeer-review

206 Citations (Scopus)

Abstract

This article outlines why highly confident entrepreneurs of focal ventures are better positioned to start and succeed with another venture; and therefore why overconfidence in one s capabilities functionally persists and pervades amongst entrepreneurs. By combining cognitive perspectives on confidence in decision making with Fredrickson s [Fredrickson, B.L. 1998. What good are positive emotions?. Review of General Psychology, 2, 300?319.; Fredrickson, B.L. 2001. The role of positive emotions in positive psychology: the broaden-and-build theory of positive emotions. American Psychologist, 56, 218?226.; Fredrickson, B.L. 2003. The value of positive emotions. American Scientist, 91: 330?335] `broaden-and-build? theory of positive emotions, this paper elaborates the manner in which such entrepreneurs can develop emotional, cognitive, social and financial resilience that can be marshaled and mobilized for a subsequent venture.
Original languageEnglish
Pages (from-to)569-578
Number of pages10
JournalJournal of Business Venturing
Volume25
Issue number6
DOIs
Publication statusPublished - 2010
Externally publishedYes

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