How does the risk preference impact the need for achievement in business contexts

Carmen Păunescu and Ramona Cantaragiu
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Carmen Păunescu: Academy of Economic Studies, Bucharest, Romania
Ramona Cantaragiu: Academy of Economic Studies, Bucharest, Romania

Management & Marketing, 2012, vol. 7, issue 1

Abstract: This paper presents a descriptive, quantitative study devised in order to test hypothesis related to psychological traits of Romanian entrepreneurs and middle and top managers. The purpose of the present study is to describe the theoretical model proposed for the relationship between risk-taking and need for achievement in a business context and to test it against data gathered from Romanian business people. The sample consisted of 137 Romanian business people with managerial experience, who met at least one of the following sampling criteria: (1) founder or current owner of a Romanian company, (2) currently employed in a top management position, (3) currently employed on a position with managerial status. For testing the relation between variables we have used an independent sample test. The findings of the study reveal that it is very fruitful to consider the inclination towards risk taking as a determinant of the need for achievement, whereas most researches have considered the relationship to be the other way around

Keywords: risk preference; need for achievement; entrepreneur; business context; independent-test; Romanian companies. (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:eph:journl:v:7:y:2012:i:1:n:7

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