Through historical reviews and case studies, this research seeks to understand why some initially successful entrepreneurs failed in the economic boom of past decades. Among various factors contributed to their downfalls are a unique political and business environment, fragile financial systems, traditional cultural influences and personal characteristics. Notwithstanding that these factors should be further tested through empirical studies, those high-profile entrepreneurs are oblivious but essential actors in the grand theatre of China's economic transformation and their failures have contributed to the swift development of the Chinese entrepreneurship over the last 30 years.
Zhang, Wenxian and Ilan Alon. Tao of Downfall: The Failures of High-Profile Entrepreneurs in the Chinese Economic Reform. International Journal of Entrepreneurship and Small Business, 11:2 (2010), 121-134.
International Journal of Entrepreneurship and Small Business