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| Author: | Psaltopoulos, D. Stathopoulou, S. Skuras, D. |
| Title: | The location of markets, perceived entrepreneurial risk, and start-up capital of micro rural firms |
| Journal: | Small business economics
2005 : SEP, VOL. 25:2, p. 147-158 |
| Index terms: | location of industry risk rural development |
| Freeterms: | start-up capital |
| Language: | eng |
| Abstract: | It has been argued that when founders of SMEs perceive the probability to be greater, they are more likely to provide a greater proportion of the start-up capital. This study provides an empirical examination of two concurrent hypotheses. Firstly, that the size of the debt or equity is affected by factors influencing perceived entrepreneurial risk. Secondly, that the location of the market for the company's output is a major factor of the start-up capital. A statistical analysis based on the simultaneous tobit model is used. Results indicate that significant factors influencing risk perception include the size of the new business and the sector of economic activity, as well as entrepreneurial experience and the location of the markets for the company's output. |
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