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A successful businessman is not a gambler. Risk attitude and business performance among small enterprises in Nigeria

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  • Willebrands, Daan
  • Lammers, Judith
  • Hartog, Joop

Abstract

This paper analyses the effect of risk attitudes of firm owners on business performance among small enterprises in Lagos, Nigeria. We find that there is no robust support for a positive effect of willingness to take risk through compensation for risk taking. Perception of risk does have a positive effect, suggesting that recognizing and cautiously dealing with risk is beneficial. The effect is robust under alternative specifications.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Economic Psychology.

Volume (Year): 33 (2012)
Issue (Month): 2 ()
Pages: 342-354

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Handle: RePEc:eee:joepsy:v:33:y:2012:i:2:p:342-354

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Web page: http://www.elsevier.com/locate/joep

Related research

Keywords: Entrepreneurship; Risk perception; Risk behavior; Business performance; MSEs;

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References

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Cited by:
  1. Martijn Boermans & Daan Willebrands, 2012. "Financial constraints, risk taking and firm performance: Recent evidence from microfinance clients in Tanzania," DNB Working Papers 358, Netherlands Central Bank, Research Department.

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