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| Author: | Kan, K. Tsai, W-D. |
| Title: | Entrepreneurship and risk aversion |
| Journal: | Small business economics
2006 : JUN, VOL. 26:5, p. 465-474 |
| Index terms: | entrepreneurship risk aversion liquidity constraints self-employment wealth |
| Language: | eng |
| Abstract: | Evans and Jovanovic (hereafter as: E-and-J.) have found that wealth is an important determinant of business startups (here as: b-st-ups.) due to liquidity constraints. According to Cressy, one's wealth does not have any effect on b-st-ups. once the degree of risk aversion is accounted for. This paper investigates the validity of Cressy's conjecture. It is found that E-and-J.'s results are robust. |
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