Universität zu Köln

Schulz, Matthias ORCID: 0000-0002-2391-8442, Schwens, Christian ORCID: 0000-0002-4576-5520 and Fisch, Christian ORCID: 0000-0003-3609-7193 (2021). Bankruptcy Regulation and Self-Employment Entry: The Moderating Roles of Income Share, Parenthood, and Hybrid Entrepreneurship. Entrepreneurship theory and practice ET&P, 45 (6). 1522 - 1550. THOUSAND OAKS: SAGE PUBLICATIONS INC. ISSN 1540-6520

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Abstract

We investigate how individual factors moderate the impact of bankruptcy exemption levels-that is, the amount of wealth individuals can keep in case of bankruptcy-on entry into self-employment. Conceptually, we combine Prospect Theory's axiom of diminishing sensitivity with insights from research on entrepreneurial failure. We hypothesize that individuals who face higher financial, social, or psychological costs because of bankruptcy will be less sensitive to higher exemption levels than will those who face lower costs across these dimensions. Our empirical results, which are based on a quasi-natural experiment in the United States, support our theoretical predictions.

Item Type:	Journal Article
Creators:	Creators Email ORCID ORCID Put Code Schulz, Matthias UNSPECIFIED orcid.org/0000-0002-2391-8442 UNSPECIFIED Schwens, Christian UNSPECIFIED orcid.org/0000-0002-4576-5520 UNSPECIFIED Fisch, Christian UNSPECIFIED orcid.org/0000-0003-3609-7193 UNSPECIFIED
URN:	urn:nbn:de:hbz:38-584909
DOI:	10.1177/10422587211026856
Journal or Publication Title:	Entrepreneurship theory and practice ET&P
Volume:	45
Number:	6
Page Range:	1522 - 1550
Date:	2021
Publisher:	SAGE PUBLICATIONS INC
Place of Publication:	THOUSAND OAKS
ISSN:	1540-6520
Language:	English
Faculty:	Faculty of Management, Economy and Social Sciences
Divisions:	Faculty of Management, Economics and Social Sciences > Business Administration > Corporate Development > Professur für Innovation Management and Entrepreneurship
Subjects:	Management and auxiliary services
Uncontrolled Keywords:	Keywords Language PROSPECT-THEORY; PERSONAL BANKRUPTCY; BUSINESS FAILURE; GRIEF RECOVERY; LAWS; UNCERTAINTY; DECISION; GENDER; FAMILY; LEVEL English Business English
Refereed:	Yes
URI:	http://kups.ub.uni-koeln.de/id/eprint/58490