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New Venture Risk Taking – Perceptions and Preferences?

Douglas, Evan J. (2006) New Venture Risk Taking – Perceptions and Preferences? In Babson College Entrepreneurial Research Conference, June 8-10 2006, USA, Indiana.

Abstract

This paper clarifies and expands the ‘perceptions’ view of entrepreneurial risk taking and provides two additional concepts to explain why entrepreneurs undertake risky new ventures. The utility-maximizing model of entrepreneurship is extended to include these additional concepts. We argue that entrepreneurs will truncate risk-reducing information-search, firstly because the delay involved in search activity may cause the loss of additional income associated with first-mover advantages, and secondly because the entrepreneur’s psychic involvement in the process of becoming an entrepreneur and/or pioneer might be so important that he/she trades off risk reduction to become an entrepreneur sooner

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574 since deposited on 24 Nov 2006
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ID Code: 5532
Item Type: Conference Paper
Keywords: Douglas, E, risk taking, risk perceptions
Subjects: Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > BUSINESS AND MANAGEMENT (150300) > Organisational Planning and Management (150312)
Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > BUSINESS AND MANAGEMENT (150300)
Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > BUSINESS AND MANAGEMENT (150300) > Small Business Management (150314)
Divisions: Current > Research Centres > Australian Centre for Entrepreneurship
Current > QUT Faculties and Divisions > QUT Business School
Copyright Owner: Copyright 2006 (The author)
Deposited On: 24 Nov 2006
Last Modified: 05 Jan 2011 23:28

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