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Credit rationing or entrepreneurial risk aversion? A comment
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Credit rationing or entrepreneurial risk aversion? A comment
Bonilla, Claudio
;
Vergara, Marcos
URI:
http://dx.doi.org/10.1016/j.econlet.2013.05.008
http://hdl.handle.net/11447/4818
Date:
2013
Abstract:
Cressy (2000) argues that the positive correlation between assets and the rate of business startups is due to DARA preferences. We show however that the required property is prudence, and prudence is consistent with DARA, IARA or CARA.
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