Variable risk preferences in new firm growth and survival
Författare
Summary, in Swedish
We outline and test a decision-making theory of new venture growth and survival. Building upon research in entrepreneurship and decision making under risk, we hypothesize that entrepreneurs’ attention to survival and aspiration reference points changes based on venture age (experience-based learning), size (differences in decision complexity), and performance decision domain. Examining a panel of 14,760 new ventures in the professional services sector, our findings show how risk preferences change as a venture ages and increases in size. This approach offers a more nuanced view of decision making under risk and provides a theoretical explanation for the common patterns of new ventures’ probability of exit and growth diminishing with age and size.
Avdelning/ar
Publiceringsår
2016
Språk
Engelska
Sidor
408-427
Publikation/Tidskrift/Serie
Journal of Business Venturing
Volym
31
Issue
4
Länkar
Dokumenttyp
Artikel i tidskrift
Förlag
Elsevier
Ämne
- Economics and Business
Nyckelord
- entreprenörskap
- tillväxt
- beslutsfattande
- Growth
- Survival
- Aspiration levels
- Focus of attention
- New ventures
- Risk preferences
Status
Published
ISBN/ISSN/Övrigt
- ISSN: 0883-9026