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This chapter examines the psychological processes involved in entrepreneurial exit, including both successful (harvest) and unsuccessful (failure) exits. The authors propose that a multi-stakeholder perspective is necessary to understand how failure unfolds, and suggest that ethnographic studies could be conducted at specialized bankruptcy and liquidation firms. They also highlight the importance of considering both positive and negative emotions in learning from failure, and suggest that studying the role of emotions in a harvest context could provide new insights into how entrepreneurs respond to failure and build resilience. The authors conclude that understanding the psychological processes underpinning entrepreneurial exit can have significant implications for entrepreneurs' well-being and future ventures.
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