Societal well-being, self-control and entrepreneurial re-entry

Abstract

Purpose This study aims to examine the influence of societal levels of well-being and self-control on re-entry of entrepreneurs who have had unfavorable exits during an external crisis.

Design/methodology/approach Using 5,351 survey responses from the Global Entrepreneurship Monitor obtained from 29 countries post the 2008 economic crisis and supplementing with data from the World Values Survey, the authors show how well-being at the societal level influences entrepreneurial re-entry.

Findings The study finds that societal-level dimensions of hedonic and eudaimonic well-being positively influence entrepreneurial re-entry. Further, this influence is mediated by societal-level self-control.

Originality/value The study invokes the psychological dimensions of well-being and self-control as higher-order societal constructs that influence entrepreneurial re-entry. The novelty lies in suggesting the mechanisms through which societal-level well-being influences entrepreneurial re-entry after an exit during a crisis. While societal-level dimensions of well-being function as distal drivers of entrepreneurial re-entry, self-control acts as a proximal driver, and the effect of well-being in influencing re-entry is felt through self-control.