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dc.contributor.authorFossen, Frank M.en_US
dc.date.accessioned2012-08-24en_US
dc.date.accessioned2012-08-27T12:52:36Z-
dc.date.available2012-08-27T12:52:36Z-
dc.date.issued2012en_US
dc.identifier.urihttp://hdl.handle.net/10419/61395-
dc.description.abstractWhy do people engage in entrepreneurship and commit large parts of their personal wealth to their business, despite comparably low returns and high risk? This paper connects several streams of literature to shed some light on this puzzle and suggests possible future research avenues. Key insights from the literature are that entrepreneurs may operate in imperfect financial markets and that entrepreneurs are less risk-averse than the rest of the population. A focus of this paper is, therefore, on the role of heterogeneous risk attitudes in entrepreneurial decisions, specifically portfolio choice and the entry and exit decisions. Nonpecuniary benefits of entrepreneurship, such as being independent in the workplace, also contribute to an explanation of entrepreneurial behavior.en_US
dc.language.isoengen_US
dc.publisherDeutsches Institut für Wirtschaftsforschung (DIW) Berlinen_US
dc.relation.ispartofseriesDiscussion Papers, German Institute for Economic Research, DIW Berlin 1209en_US
dc.subject.jelJ23en_US
dc.subject.jelG11en_US
dc.subject.jelL26en_US
dc.subject.ddc330en_US
dc.subject.keywordEntrepreneurshipen_US
dc.subject.keywordrisk aversionen_US
dc.subject.keywordportfolio choiceen_US
dc.titleRisk attitudes and private business equityen_US
dc.typeWorking Paperen_US
dc.identifier.ppn722232632en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:Publikationen von Forscherinnen und Forschern des DIW
DIW-Diskussionspapiere

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