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.
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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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| 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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