Risk tolerance and entrepreneurship

Abstract

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Personality Traits of Entrepreneurs: A Review of Recent Literature

“…Ahn (2010) and Levine and Rubenstein (2017) are examples of innovative and impressive studies that utilize the National Longitudinal Survey of Youth (NLSY), although the NLSY's small sample generates constraints. Hvide and Panos (2014) and Caliendo et al (2014) also show frontier examples that build upon longitudinal administrative records and national surveys. Even with this gold standard in mind, the practical limits of building such platforms-especially the off-the-shelf tradeoff of using administrative records that provide universal employment histories but limited collection of personality traits-suggest that there is still much to gain from carefully conducted surveys that focus on narrow and clearly specified groups of interest and define a relevant comparison group that entrepreneurs are contrasted with.…”

The Specific Character Traits of Young Entrepreneurs in Slovakia

“…It is even more evident in the field of start-ups because of the higher risk level. Hvide and Panos (2014) declare that individuals who are more risk tolerant are more likely to open a start-up. Knőrr et al (2013) and Soininen et al (2012) classified the risk taking as the personal predisposition of becoming an entrepreneur.…”

“…This fact was also confirmed by Kvietok (2013) who stated that only a specific type of people is able to make the decision to take the risk of doing business, which is more evident for start-ups due to the higher risk level. Hvide and Panos (2014) declared that individuals who are more risk tolerant are more likely to start-up firms.…”

“…Belás at al. 2016, Deáková et al 2010, Korauš at al.2015, Frese and Gielnik, 2014, Mura and Machová, 2015, Sidik, 2012, Sharma, Bozatzis and Jain, 2011, Tu et al, 2012, Soomro and Shah, 2015, Hvide and Panos, 2014, Knőrr et al, 2013and Soininen et al, 2012, Košičiarová and Vincúrová, 2015 state that entrepreneurs have to have special personal qualities and characteristics to be successful in business. Sobeková et al (2015) along with many other authors declare that entrepreneurs and SMEs are an important part of each market economy.…”

The Most Important Attributes of Entrepreneurs. Case Study of the Environment of Czech SMEs.

“…In this context Omerzel and Kušce (2013) indicate that the inclination to take risks, self-efficacy and the need for independence are the most important factors affecting personal performance of the businessman. Individuals who demonstrate increased risk aversion are more likely to become entrepreneurs (Hvide, Panos, 2014). …”