Data Quality Affects Meta-Analytic Conclusions: A Response to Miner and Raju (2004) Concerning Entrepreneurial Risk Propensity.

Abstract

J. B. Miner and N. S. Raju (2004) contended that there are additional studies that compare the risk propensity of entrepreneurs and managers, which, when added to the data from W. H. Stewart and P. L. Roth (2001) and meta-analyzed, produce relationships between risk propensity and entrepreneurial status that are substantially weaker than previously believed. This conclusion was evaluated by identifying and examining methodological problems associated with their inclusion of effect sizes (i.e., ds) from studies with variables not relevant to research questions, dependent samples, extraneous variance in outcome variables, and confusion of constructs. When these methodological issues were addressed, a new meta-analysis indicated an overall conclusion consistent with that of Stewart and Roth, but the results varied according to instrumentation, particularly objective instrumentation (observed d = 0.31) versus the Miner Sentence Completion Scale-Form T (observed d = -0.35).

Effectual versus predictive logics in entrepreneurial decision-making: Differences between experts and novices

“…This cumulative evidence speaks to the ongoing debate in psychology on the risk-propensity of entrepreneurs. Note for example two recent meta-analytical studies that point in contrasting directions on this debate (Miner and Raju, 2004;Stewart and Roth, 2004). Another important literature we hope the cumulation of the three studies on entrepreneurial expertise speak to is the one on behavioral decision-making.…”

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“…These discrepancies are business opportunities for Abbreviations: K, number of studies; N, total number of observations; r, mean correlation; r c , reliability-corrected and sample-size weighted mean correlation; r w , sample-size weighted mean correlation. b There was an exchange between Miner & Raju (2004) and Stewart & Roth (2001) that has been resolved by the meta-analysis by Stewart & Roth (2004).…”

Developing a Social Enterprise Performance Scale and Examining the Relationship Between Entrepreneurs’ Personality Traits and Their Perceived Enterprise Performance

“…Furthermore, previous studies have indicated that entrepreneurs are highly motivated to achieve goals (Stewart & Roth, 2004;Wang & Liang, 2015). In other words, they exhibit high levels of conscientiousness.…”