A successful businessman is not a gambler. Risk attitude and business performance among small enterprises in Nigeria
Judith Lammers () and
Journal of Economic Psychology, 2012, vol. 33, issue 2, 342-354
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)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:joepsy:v:33:y:2012:i:2:p:342-354
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