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A successful businessman is not a gambler. Risk attitude and business performance among small enterprises in Nigeria

Daan Willebrands, Judith Lammers () and Joop Hartog

Journal of Economic Psychology, 2012, vol. 33, issue 2, 342-354

Abstract: This paper analyses the effect of risk attitudes of firm owners on business performance among small enterprises in Lagos, Nigeria. We find that there is no robust support for a positive effect of willingness to take risk through compensation for risk taking. Perception of risk does have a positive effect, suggesting that recognizing and cautiously dealing with risk is beneficial. The effect is robust under alternative specifications.

Keywords: Entrepreneurship; Risk perception; Risk behavior; Business performance; MSEs (search for similar items in EconPapers)
JEL-codes: D12 L25 L26 (search for similar items in EconPapers)
Date: 2012
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DOI: 10.1016/j.joep.2011.03.006

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