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The influence of cognitive frames on small business entrepreneurs' perception of risk concepts

Author

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  • Mike Peters
  • Janette Walde
  • Johannes Brustbauer

Abstract

This study aims at analysing the influence of cognitive frames on small business entrepreneurs' perception of risk concepts in certain stages of their working life. A principal component analysis (PCA) based on the results of a survey questionnaire reveals that entrepreneurs perceive risk according to the entrepreneurship literature, i.e., as opportunity, as variance, and as downside loss. Analysis of variance (ANOVA) results show a statistically significant influence of cognitive frames, operationalised by personal characteristics, on one risk concept: While the perception of risk as downside loss increases with education and age, it decreases when reaching a certain level of experience. The approach also reveals that personal characteristics are practically not influencing the perception of risk concepts.

Suggested Citation

  • Mike Peters & Janette Walde & Johannes Brustbauer, 2018. "The influence of cognitive frames on small business entrepreneurs' perception of risk concepts," International Journal of Management and Enterprise Development, Inderscience Enterprises Ltd, vol. 17(3), pages 224-243.
    • Handle: RePEc:ids:ijmede:v:17:y:2018:i:3:p:224-243
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