The purpose of this study was to answer the question of how risk aversion affects entrepreneurial learning and tourism business intention among the failed tourism entrepreneurs.
The theories of Kolb’s experiential learning (1984) and Mezirow’s transformative learning (1997) have been applied to build the research model. On the basis of objectives of study, 312 questionnaires were collected from failed tourism entrepreneurs. The hypotheses were tested using PLS-SEM.
The findings revealed a mediating role of risk aversion between entrepreneurial learning and entrepreneurial intention.
This study proved that learning from failure can motivate an individual to re-enter entrepreneurship, but high-risk aversion may weaken this effect, thereby discouraging new ventures. Understanding these dynamics helps in developing interventions such as training, mentoring and entrepreneurial activity to reduce risk aversion and support entrepreneurial resilience.
This study enriches the existing literature and provides a better understanding of how risk aversion affects the relationship between entrepreneurial learning and entrepreneurial intention of failed tourism entrepreneurs. Based on the theories of Kolb’s experiential learning (1984) and Mezirow’s transformative learning (1997), the findings have been validated.
