haku: @indexterm rationality / yhteensä: 141
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Tekijä:Cassar, G.
Otsikko:Are individuals entering self-employment overly optimistic? An empirical test of plans and projections on nascent entrepreneur expectations
Lehti:Strategic Management Journal
2010 : AUG, VOL. 31:8, p. 822-840
Asiasana:new enterprise
entrepreneurship
small business
self-employment
finance
sales
forecasting
planning
rationality
expectations
Vapaa asiasana:overoptimism
Kieli:eng
Tiivistelmä:This study explores the rationality of the expectations (hereafter as: expts.) of nascent entrepreneurs (henceforth as: n-eprs). Consistent with assumptions as to entry into self-employment, there is found substantial overoptimism in n-eprs.' expts. as they overestimate the probability of their nascent activity to be resulting in an operating venture. Furthermore, for those ventures getting into operation, the expected future sales and employment are overestimated. To explain variations in overoptimism, it is argued that those individuals adopting an inside view to forecasting via usage of plans and financial projections will show greater ex-ante bias in their expts. Consistent with the inside view causing overoptimism in expts., it is found that the preparation of projected financial statements results in more over-optimistic forecasts of venture sales.
SCIMA tietueen numero: 274093
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