Entrepreneurial growth aspirations at re-entry after failure

Purpose Utilising the Theory of Planned Behaviour as conceptual framework, authors argue that entrepreneurial financial failure enhances growth aspirations for subsequent start-up projects. Furthermore, this effect is particularly strong individuals rich in human capital, both general and specific; them, an business likely to be subsequently transformed into higher aspirations. Design/methodology/approach The employ multilevel estimation techniques applied Global Entrepreneurship Monitor data consisting annual subsamples, each with at least 2,000 observations drawn from working age population 95 countries, period 2007–2019. Findings results confirm experience failure, individual societal, leads ventures, while exit opportunity reasons has even stronger positive on education enhance impact start-ups. Originality/value demonstrate Behaviour, which centres intentions, can successfully utilised understand why may high projects enhanced by capital entrepreneur. apply methods a large international dataset produce novel empirical evidence supporting their theoretical predictions.