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Firm Lifespan and Entrepreneurial Reentry after Failure: The Moderating Role of Temporal Focus

Published online by Cambridge University Press:  20 November 2025

Xiaoyu Yu ,
Xiaoli Liu ,
Gang Cao ,
Xiaoyu Zhou Open the ORCID record for Xiaoyu Zhou [Opens in a new window]  and
Yajie Li
Xiaoyu Yu
Affiliation:
Shanghai University, China
Xiaoli Liu
Affiliation:
Shanghai University, China
Gang Cao*
Affiliation:
Anhui University of Finance and Economics, China
Xiaoyu Zhou*
Affiliation:
ShanghaiTech University, China
Yajie Li
Affiliation:
Shanghai University, China
*
Corresponding author: Gang Cao; Email: 120250019@aufe.edu.cn
Xiaoyu Zhou; Email: zhouxy@shanghaitech.edu.cn
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Abstract

Entrepreneurial reentry after business failure is an important area of research in the field of entrepreneurship. However, previous studies have largely overlooked the crucial role of time factors – both objective and subjective – in the context of failure and subsequent entrepreneurial endeavors. This study aims to fill this gap by examining the impact of firm lifespan on entrepreneurial reentry and the moderating effect of entrepreneurs’ temporal focus. Through manual matching across multiple databases, we obtain a sample of 368 entrepreneurs. The results show that a longer firm lifespan negatively influences entrepreneurial reentry and that a past focus further amplifies this negative relationship. This study contributes to research on the determinants of entrepreneurial reentry and provides theoretical insights into the role of time in entrepreneurial reentry.

摘要

摘要

创业失败后是否再创业是创业领域的一个重要研究方向。然而, 以往的研究大多忽略了时间因素——无论是客观存在的还是主观感知的——在失败情境下和随后创业活动中的关键作用。为了填补这个空白,本研究检验企业寿命(客观时间)对再创业行为的影响以及创业者时间导向(主观时间)所起的调节作用。通过手动匹配多个数据库, 本研究获得了368 位创业者的样本。研究结果表明, 企业寿命越长,再创业行为出现的可能性越低, 而且这种负面关系对于具有过去时间导向的创业者尤为强烈。本研究为再创业行为影响因素的研究做出了贡献, 并提供了时间在再创业行为中作用的理论见解。

Keywords

entrepreneurial failureentrepreneurial reentryfailure costsfirm lifespantemporal focus创业失败再创业行为企业寿命时间焦点失败成本

Information

Type
Article
Information
Management and Organization Review , Volume 22 , Special Issue 2: Special Issue on ‘Advancing Temporal Research in Chinese Management’ , April 2026 , pp. 329 - 356
Copyright
© The Author(s), 2025. Published by Cambridge University Press on behalf of International Association for Chinese Management Research.

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Footnotes

X.Y., G.C., and X.Z. contributed equally to the development of this research

The original version of this article was published with the incorrect title. A notice detailing with this has been published and the error rectified in the online PDF and HTML copies.

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