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| Author: | Makhija, M.V. Stewart, A.C. |
| Title: | The effect of national context on perception of risk: a comparison of planned versus free-market managers |
| Journal: | Journal of International Business Studies
2002 : VOL. 33.4, p. 737-756 |
| Index terms: | Country comparisons Economic conditions Perception Risk Czech Republic USA |
| Language: | eng |
| Abstract: | A model is developed to explain the effect of national context on risk-related decisions. An essential feature of risk-related decisions is substantial uncertainty, or inadequate information, as well as significant consequences regarding future outcomes. It is argued that differences in information flows and conseqences across national institutional environments affect the perceived uncertainty of decision situations. For this reason, the institutional environment in which managers reside should play a fundamental and systematic role in influencing their perceptions of risk. The model is tested on managers from two environments that contrast in terms of information and consequences related to risk, a free-market economy (the U.S.) and a centrally planned economy (the Czech Republic in 1992). |
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