“I can't get it out of my mind” - Why, how, and when crisis rumination leads entrepreneurs to act and pivot during crises

Bach Nguyen, Hai-Anh Tran, Ute Stephan, Van Ha Nguyen, Hoang Anh Pham

Research output: Contribution to journalReview articlepeer-review

Abstract

Why do some entrepreneurs pivot their business models in a crisis, while others are more passive? Integrating Conservation of Resources theory with work on crisis rumination, we developed a micro-level model to explain why entrepreneurs who are under strain due to a crisis, as indicated by experiencing crisis rumination, adopt an active approach – i.e., using active coping and engaging in pivoting. Moreover, prevention-focused entrepreneurs who are habitually more sensitive to losses are especially stimulated by crisis rumination to pivot to prevent (further) resource losses. We tested our model in an experiment and an eight-month longitudinal study with entrepreneurs during an inflation crisis.
Original languageEnglish
Article number106395
JournalJournal of Business Venturing
Volume39
Issue number4
Early online date9 Apr 2024
DOIs
Publication statusE-pub ahead of print - 9 Apr 2024

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