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Entrepreneurship, risk perception and firm performance

Martijn Boermans and Daan Willebrands

No 17-04, Working Papers from Utrecht School of Economics

Abstract: Risk attitudes of entrepreneurs are well-established drivers of business performance. Most empirical studies in this field only take into account risk propensity, leaving out the complementary concept of risk perception. Using data on 611 entrepreneurs from Tanzania, we show that risk perception is positively associated with business performance. In addition, we classify the entrepreneurs in four different groups based on their risk profile. The results show that the worst performing entrepreneurs are those with low risk perception and high risk propensity.

Keywords: risk attitude; risk perception; risk propensity; entrepreneurship; business performance; Africa (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-afr, nep-cse, nep-ent, nep-ino and nep-sbm
Date: 2017-04
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