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Do decision-makers in SMEs have higher risk aversion than in large enterprises?

Author

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  • Wüstermann, Ralf Peter

    (PhD.-Student Girne American University)

Abstract

In scientific discussion, it is widely assumed that decision-makersin SMEs have a higher risk aversion than those in large enterprises. This hypothesis will be evaluated with statistics to obtain a clear answer. Based on the keyfigureequity ratio, the risk aversion of decision-makersin SMEs and large companies can be statistically evaluated. The time series analysis revealed significant differences in risk aversion for different company sizes. Also the specific the company size-related environmental and market conditions influence the individual risk aversion of the decision makers. Therefore, the risk aversion of a decision-makerin an SME can be distinguished from the risk aversion in large companies.

Suggested Citation

  • Wüstermann, Ralf Peter, 2016. "Do decision-makers in SMEs have higher risk aversion than in large enterprises?," Zeitschrift für interdisziplinäre ökonomische Forschung, Allensbach Hochschule, issue 2, pages 72-78, November.
    • Handle: RePEc:ris:zfioef:0039
    as

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    More about this item

    Keywords

    Arrow-Pratt measure; risk aversion; statistics; financial statements; decision-makers;
    All these keywords.

    JEL classification:

    • C10 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - General
    • L20 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - General
    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General

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