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dc.contributor.authorFossen, Frank M.en
dc.date.accessioned2012-08-24-
dc.date.accessioned2012-08-27T12:52:36Z-
dc.date.available2012-08-27T12:52:36Z-
dc.date.issued2012-
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
dc.language.isoengen
dc.publisher|aDeutsches Institut für Wirtschaftsforschung (DIW) |cBerlinen
dc.relation.ispartofseries|aDIW Discussion Papers |x1209en
dc.subject.jelJ23en
dc.subject.jelG11en
dc.subject.jelL26en
dc.subject.ddc330en
dc.subject.keywordEntrepreneurshipen
dc.subject.keywordrisk aversionen
dc.subject.keywordportfolio choiceen
dc.titleRisk attitudes and private business equity-
dc.typeWorking Paperen
dc.identifier.ppn722232632en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:diw:diwwpp:dp1209en

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