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Determinants of the Risk Attitude in Entrepreneurship: Evidence from Latin America

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dc.contributor.author Sepúlveda, Jean P.
dc.contributor.author Bonilla, Claudio A.
dc.date.accessioned 2015-07-07T18:50:03Z
dc.date.available 2015-07-07T18:50:03Z
dc.date.issued 2014
dc.identifier.uri http://hdl.handle.net/11447/104
dc.description.abstract This paper departs from the traditional analysis of the effects of risk aversion in entrepreneurship to study the determinants of entrepreneurial risk aversion in developing a new venture and becoming an entrepreneur. We took fear of failing as a proxy for risk aversion and applied our analysis to the most important Latin American economies. We observed that being male, having more years of formal education and believing to have the necessary skills to develop a new venture decreased the probability of feeling a fear of failing and, thus, eventually increased the probability of developing a new venture. Age affects risk quadratically (first positively, but after some point, negatively), and if there is a prior experience of having shut down a business, risk aversion increases, that is, the probability of feeling a fear of failing, which reduces the probability of becoming an entrepreneur es_CL
dc.format.extent 23 es_CL
dc.language.iso en_US es_CL
dc.publisher School of Business and Economics, Universidad del Desarrollo es_CL
dc.relation.ispartofseries Past Working Paper;18
dc.subject Risk Aversion es_CL
dc.subject Entrepreneurship es_CL
dc.subject Fear of Failing es_CL
dc.title Determinants of the Risk Attitude in Entrepreneurship: Evidence from Latin America es_CL
dc.type Documento de trabajo es_CL


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