A successful businessman is not a gambler. Risk attitude and business performance among small enterprises in Nigeria

Daan Willebrands; Judith Lammers; Joop Hartog

doi:10.1016/j.joep.2011.03.006

A successful businessman is not a gambler. Risk attitude and business performance among small enterprises in Nigeria

Daan Willebrands, Judith Lammers, Joop Hartog^*

^*Corresponding author for this work

Research output: Contribution to journal › Article › peer-review

37 Citations (Scopus)

Abstract

This paper analyses the effect of risk attitudes of firm owners on business performance among small enterprises in Lagos, Nigeria. We find that there is no robust support for a positive effect of willingness to take risk through compensation for risk taking. Perception of risk does have a positive effect, suggesting that recognizing and cautiously dealing with risk is beneficial. The effect is robust under alternative specifications.

Original language	English
Pages (from-to)	342-354
Number of pages	13
Journal	Journal of Economic Psychology
Volume	33
Issue number	2
DOIs	https://doi.org/10.1016/j.joep.2011.03.006
Publication status	Published - Apr 2012
Externally published	Yes

Keywords

Business performance
Entrepreneurship
MSEs
Risk behavior
Risk perception

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10.1016/j.joep.2011.03.006

Cite this

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KW - MSEs

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KW - Risk perception

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A successful businessman is not a gambler. Risk attitude and business performance among small enterprises in Nigeria

Abstract

Keywords

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