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

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

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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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
Contact details of provider: Web page: http://www.elsevier.com/locate/joep

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