Risk attitudes and entrepreneurial motivations: Evidence from transition economies

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Economics Letters, ISSN: 0165-1765, Vol: 160, Page: 7-11

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Muzaffar Ahunov; Nurmukhammad Yusupov
Elsevier BV
Economics, Econometrics and Finance
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article description
Most studies on risk attitudes of entrepreneurs do not distinguish between those who want to be self-employed and those who have to run their own business for survival, or entrepreneurs by choice vs. by necessity. We examine the relationship between individual risk preferences and likelihood of entrepreneurial entry among these two groups in a cross section of countries with transition economies. We obtain robust results that those with higher degree of risk tolerance are more likely to be self-employed by choice.