The present study provides an understanding of the role of fear of failure in entrepreneurial decision making by examining the mediating role of appraisal dimensions through the study of the impact of fear (state and trait) on entrepreneurial risk perception and using the cognitive-motivational-relational process and the Appraisal Tendencies Framework as based theories. Using a sample of students, we confirmed that trait fear is significantly related with higher entrepreneurial risk perception and this relation is mediated by cognitive appraisal dimensions especially the certainty theme. The same relationship is not confirmed for the state fear, even the statistical difference between students in entrepreneurial risk perception due to state fear condition.
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