The aftermath of new venture failure

New ventures are believed to have a pivotal role for economic development and job creation in societies. However, high proportion of new ventures fails within short period after their launch. Individuals as the main resources in entrepreneurial activities are affected by the failure. On one hand, the experience could be the basis for subsequent success in other organizational settings as departing individuals’ entrepreneurial experience can represent a beneficial resource. On the other hand, high uncertainty in startups and liabilities of newness and smallness may have negative consequences for individuals’ further career trajectory. In this dissertation I approach different groups of stakeholders in entrepreneurial activities and examine the consequences of new venture failure on these groups. The overall research question is: What are the consequences of new venture failure on different stakeholder groups involved in entrepreneurial activities? Four studies included in this dissertation present consequences of new venture failure on different groups of stakeholders from various perspectives based on qualitative and quantitative approach.