Replication data for: Risk Taking by Entrepreneurs
Principal Investigator(s): View help for Principal Investigator(s) Galina Vereshchagina; Hugo A. Hopenhayn
Version: View help for Version V1
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Project Citation:
Vereshchagina, Galina, and Hopenhayn, Hugo A. Replication data for: Risk Taking by Entrepreneurs. Nashville, TN: American Economic Association [publisher], 2009. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E113334V1
Project Description
Summary:
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Entrepreneurs bear substantial risk, but empirical evidence shows no sign of a
positive premium. This paper develops a theory of endogenous entrepreneurial
risk taking that explains why self-financed entrepreneurs may find it optimal
to invest in risky projects offering no risk premium. Consistently with empirical
evidence, the model predicts that poorer entrepreneurs are more likely to
undertake risky projects. It also finds that incentives for risk taking are stronger
when agents are impatient. (JEL G31, G32, L25, L26)
Scope of Project
JEL Classification:
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G31 Capital Budgeting; Fixed Investment and Inventory Studies; Capacity
G32 Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
L25 Firm Performance: Size, Diversification, and Scope
L26 Entrepreneurship
G31 Capital Budgeting; Fixed Investment and Inventory Studies; Capacity
G32 Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
L25 Firm Performance: Size, Diversification, and Scope
L26 Entrepreneurship
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