Variable risk preferences in new firm growth and survival

Forskningsoutput: TidskriftsbidragArtikel i vetenskaplig tidskrift

Abstract

We outline and test a decision-making theory of new venture growth and survival. Building upon research in entrepreneurship and decision making under risk, we hypothesize that entrepreneurs’ attention to survival and aspiration reference points changes based on venture age (experience-based learning), size (differences in decision complexity), and performance decision domain. Examining a panel of 14,760 new ventures in the professional services sector, our findings show how risk preferences change as a venture ages and increases in size. This approach offers a more nuanced view of decision making under risk and provides a theoretical explanation for the common patterns of new ventures’ probability of exit and growth diminishing with age and size.

Detaljer

Författare
Enheter & grupper
Externa organisationer
  • Linköping University
  • Ratio - Näringslivets Forskningsinstitut
  • Syracuse University
Forskningsområden

Ämnesklassifikation (UKÄ) – OBLIGATORISK

  • Ekonomi och näringsliv

Nyckelord

  • entreprenörskap, tillväxt, beslutsfattande
Originalspråkengelska
Sidor (från-till)408-427
TidskriftJournal of Business Venturing
Volym31
Utgivningsnummer4
StatusPublished - 2016
PublikationskategoriForskning
Peer review utfördJa