Van Gelder, J.-L., De Vries, R. E., Frese, M., & Goutbeek, J. P. (2007). Differences in psychological strategies of failed and operational business owners in the Fiji Islands. Journal of small business management, 45(3), 388–400. doi:10.1111/j.1540-627X.2007.00219.x
This study investigates the differences between failed and operational businesses from a psychological perspective. The sample included 71 operational and 20 failed business owners from Suva, the capital of Fiji. It was hypothesized that operational business owners more often employ a detailed and long-term planning strategy, whereas failed business owners more often pursue a reactive strategy, that operational business owners set more specific and more difficult goals, and that they have a higher degree of human capital than failed entrepreneurs. The data were analyzed using discriminant analysis. Results confirmed the hypotheses regarding planning and goal specificity.