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.
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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|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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