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Please use this identifier to cite or link to this item: http://hdl.handle.net/1893/20110
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dc.contributor.authorHvide, Hans Ken_UK
dc.contributor.authorPanos, Georgiosen_UK
dc.date.accessioned2014-05-08T23:31:34Z-
dc.date.available2014-05-08T23:31:34Z-
dc.date.issued2014-01en_UK
dc.identifier.urihttp://hdl.handle.net/1893/20110-
dc.description.abstractA theoretical tradition argues that more risk tolerant individuals are more likely to become entrepreneurs but perform worse. We test and confirm these predictions with several risk tolerance proxies. Using investment data for 400,000 individuals, we find that common stock investors are around 50% more likely to subsequently start up a firm. Firms started up by common stock investors have about 25% lower sales and 15% lower return on assets. The results are similar using personal leverage and other risk-tolerance proxies. We do not find support for alternative explanations such as unobserved wealth or behavioral effects.en_UK
dc.language.isoenen_UK
dc.publisherElsevieren_UK
dc.relationHvide HK & Panos G (2014) Risk tolerance and entrepreneurship. Journal of Financial Economics, 111 (1), pp. 200-223. https://doi.org/10.1016/j.jfineco.2013.06.001en_UK
dc.rightsThe publisher does not allow this work to be made publicly available in this Repository. Please use the Request a Copy feature at the foot of the Repository record to request a copy directly from the author. You can only request a copy if you wish to use this work for your own research or private study.en_UK
dc.rights.urihttp://www.rioxx.net/licenses/under-embargo-all-rights-reserveden_UK
dc.subjectEntrepreneurial entryen_UK
dc.subjectEntrepreneurial performanceen_UK
dc.subjectRisk toleranceen_UK
dc.subjectRisk aversionen_UK
dc.subjectStock market participationen_UK
dc.titleRisk tolerance and entrepreneurshipen_UK
dc.typeJournal Articleen_UK
dc.rights.embargodate3000-01-01en_UK
dc.rights.embargoreason[Journal of Financial Economics 2014.pdf] The publisher does not allow this work to be made publicly available in this Repository therefore there is an embargo on the full text of the work.en_UK
dc.identifier.doi10.1016/j.jfineco.2013.06.001en_UK
dc.citation.jtitleJournal of Financial Economicsen_UK
dc.citation.issn0304-405Xen_UK
dc.citation.volume111en_UK
dc.citation.issue1en_UK
dc.citation.spage200en_UK
dc.citation.epage223en_UK
dc.citation.publicationstatusPublisheden_UK
dc.citation.peerreviewedRefereeden_UK
dc.type.statusVoR - Version of Recorden_UK
dc.author.emailgeorgios.panos@stir.ac.uken_UK
dc.contributor.affiliationUniversity of Bergenen_UK
dc.contributor.affiliationEconomicsen_UK
dc.identifier.isiWOS:000328233100010en_UK
dc.identifier.scopusid2-s2.0-84888379012en_UK
dc.identifier.wtid718173en_UK
dcterms.dateAccepted2014-01-31en_UK
dc.date.filedepositdate2014-05-08en_UK
rioxxterms.apcnot requireden_UK
rioxxterms.typeJournal Article/Reviewen_UK
rioxxterms.versionVoRen_UK
local.rioxx.authorHvide, Hans K|en_UK
local.rioxx.authorPanos, Georgios|en_UK
local.rioxx.projectInternal Project|University of Stirling|https://isni.org/isni/0000000122484331en_UK
local.rioxx.freetoreaddate3000-01-01en_UK
local.rioxx.licencehttp://www.rioxx.net/licenses/under-embargo-all-rights-reserved||en_UK
local.rioxx.filenameJournal of Financial Economics 2014.pdfen_UK
local.rioxx.filecount1en_UK
local.rioxx.source0304-405Xen_UK
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