Risk perception of family and non-family firm managers

Johannes K. Brustbauer and Mike Peters

International Journal of Entrepreneurship and Small Business, 2013, vol. 20, issue 1, 96-116

Abstract: Family and non-family firm managers' perception of risk in general and of both internal and external risks in particular have rarely been considered in the literature. Based on the results of a survey questionnaire, a principal component analysis reveals that managers perceive risk as a form of opportunity, uncertainty, and threat. Moreover, employees, IT, online support, and financing are major internal risk factors whereas legislation, politics, customers, and competitors are important external risk factors for both company types. However, family firm managers consider the firm's location, raw materials, and employee discretion as additional risk factors. This does not hold for non-family firm managers. These results have implications for a better understanding of risk perception in family and non-family firms.

Keywords: family firms; family businesses; non-family firms; entrepreneurship; risk perception; internal risk factors; external risk factors; regional context; Austria; manager perceptions; principal component analysis; PCA; risk assessment. (search for similar items in EconPapers)
Date: 2013
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