Failing role models and the formation of fear of entrepreneurial failure: a study of regional peer effects in German regions
研究德国区域数据发现，观察成功创业者降低他人对失败的恐惧，而观察失败创业者则增加这种恐惧，揭示了区域同伴效应在创业决策中的作用。
Entrepreneurial role models influence decisions to start firms. This effect is even stronger if peers and observers live in the same region. However, most studies remain silent about the role of entrepreneurial failure for the direction of role modeling. Failed role models can trigger a deterrence of entrepreneurship in others of the same region. We hypothesize that observing successful entrepreneurs reduces fear of failure, while observing business failure increases fear of failure. By using data on regional entries and exits, we find considerable support for our hypothesis and contribute to literature on regional entrepreneurship. © 2019 The Author(s) (2018). Published by Oxford University Press.