The influence of cognitive frames on small business entrepreneurs' perception of risk concepts

Mike Peters, Janette Walde and Johannes Brustbauer

International Journal of Management and Enterprise Development, 2018, vol. 17, issue 3, 224-243

Abstract: This study aims at analysing the influence of cognitive frames on small business entrepreneurs' perception of risk concepts in certain stages of their working life. A principal component analysis (PCA) based on the results of a survey questionnaire reveals that entrepreneurs perceive risk according to the entrepreneurship literature, i.e., as opportunity, as variance, and as downside loss. Analysis of variance (ANOVA) results show a statistically significant influence of cognitive frames, operationalised by personal characteristics, on one risk concept: While the perception of risk as downside loss increases with education and age, it decreases when reaching a certain level of experience. The approach also reveals that personal characteristics are practically not influencing the perception of risk concepts.

Keywords: SMEs; small and medium-sized enterprises; entrepreneurs; perception; risk concepts; cognitive frames. (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:ids:ijmede:v:17:y:2018:i:3:p:224-243

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