Abstract
The term entrepreneur was introduced by Richard Cantillon (1755), by identifyingthe category of entrepreneurs as “the only one characterized by an actual risk,that is, by the fact or condition of buying at a certain price and selling to anuncertain price” (Blaug, 2000).The purpose of this study, as well as the main objective, is the analysis of theentrepreneur's attitude towards the risk. In particular, we will try to answer thefollowing questions: How is the behavior of the entrepreneur studied in situationsof risk? How is the behavior of the entrepreneur in situations of risk, in thecontext of SMEs?From the methodological point of view, it was decided to carry out a systematicreview of literature, with a narrative and critical chronological approach (Booth et al., 2012). A deductive approach was used in order to define a theoreticalframework on the subject that is being studied (Saunders et al., 2016) and amilestone for future research, also taking into account any empirical aspects.References
Ahunov, M. & Yusupov, N. (2017). Risk attitudes and entrepreneurial
motivations: Evidence from transition economies. Economics Letters, 160, 7-11.doi.org/10.1016/j.econlet.2017.08.016
Andersen, S., Di Girolamo, A., Harrison, G. & Lau, M. (2014). Risk and time
preferences of entrepreneurs: evidence from a Danish field experiment.
Theory and Decision, 77(3), 341-357.doi.org/10.1007/s11238-014-9446-z
Barber, D. (2015). An experimental analysis of risk and entrepreneurial
attitudes of university students in the USA and Brazil.Journal of InternationalEntrepreneurship, 13(4), 370-389.doi.org/10.1007/s10843-015-0161-9
Bauman, Z. (2014). La società dell’incertezza. Bologna: Il Mulino.
Beck, U. (2018). La società del rischio. Verso una seconda modernità. Roma:Carocci editore.
Blaug, M. (2000). Entrepreneurship before and after Schumpeter, in
Entrepreneurship. In Swedberg, R. (a cura di).The social science view.
Oxford: Oxford University Press, 78-124.
Block, J., Sandner, P. & Spiegel, F. (2013). How Do Risk Attitudes Differ
within the Group of Entrepreneurs? The Role of Motivation and Procedural
Utility. Journal of Small Business Management, 53(1), 183-206.
Boermans, M. & Willebrands, D. (2017). Entrepreneurship, risk perception
and firm performance. International Journal of Entrepreneurship and Small
Business, 31(4), 557.
Booth, A., Papaioannou, D. & Sutton, A. (2012).Sistematic Approaches to a
Successful Literature Review. London, Sage Publications.
Bouncken, R., Cesinger, B. & Kraus, S. (2014). The role of entrepreneurial
risks in the intercultural context: a study of MBA students in four nations.
European J. of International Management, 8(1),
20.doi.org/10.1504/EJIM.2014.058483
Brachert, M., Hyll, W. & Titze, M. (2016).On the simultaneity bias in the
relationship between risk attitudes, entry into entrepreneurship and
entrepreneurial survival. Applied Economics Letters, 24(7), 477-
480.doi.org/10.1080/13504851.2016.1203056
Caggese, A. (2012). Entrepreneurial risk, investment, and innovation. Journalof Financial Economics, 106(2), 287-307.doi.org/10.1016/j.jfineco.2012.05.009
Caliendo, M., Fossen, F. & Kritikos, A. (2007). Risk attitudes of nascent
entrepreneurs–new evidence from an experimentally validated survey. Small Business Economics, 32(2), 153-167.doi.org/10.1007/s11187-007-9078-6
Caliendo, M., Fossen, F. & Kritikos, A. (2010).The impact of risk attitudes on
entrepreneurial survival. Journal of Economic Behavior & Organization, 76(1), 45-63.doi.org/10.1016/j.jebo.2010.02.012
Cantillon, R. (1755). Essai sur la Nature du Commerce en Géneral. London:
Macmillan for the Royal Economic Society, 1931 [trad. it. Saggio sulla natura del commercio in generale. Torino, Einaudi, 1974].
Carney, S.M. &Geddes, J.R. (2002). Systematic Reviews and Meta-analyses. Evidence in Mental Health Care. Hove: Brunner Routledge.
Costa, L. & Mainardes, E. (2015).The role of corruption and risk aversion in
entrepreneurial intentions. Applied Economics Letters, 23(4), 290-
293.doi.org/10.1080/13504851.2015.1071462
Cramer, J., Hartog, J., Jonker, N. & Van Praag, C. (2002). Low risk aversion
encourages the choice for entrepreneurship: an empirical test of a truism.
Journal of Economic Behavior & Organization, 48(1), 29-36.doi.org/10.1016/S0167-2681(01)00222-0
Cui, Y., Sun, C., Xiao, H. & Zhao, C. (2016). How to become an excellent
entrepreneur: The moderating effect of risk propensity on alertness to
business ideas and entrepreneurial capabilities. Technological Forecasting
and Social Change, 112, 171-177.doi.org/10.1016/j.techfore.2016.08.002
Dai, L., Maksimov, V., Gilbert, B. & Fernhaber, S. (2014). Entrepreneurial
orientation and international scope: The differential roles of innovativeness,
proactiveness, and risk-taking. Journal of Business Venturing, 29(4), 511-
524.doi.org/10.1016/j.jbusvent.2013.07.004
Denyer, D. & Tranfield, D. (2009).‘Producing a Systematic Review’, in
Buchanan, D.A. & Bryman, A. (eds), The Sage Handbook of Organisational
Research Methods. London: Sage, 671-689.
Dimov, D. (2007). From opportunity insight to opportunity intention: the
importance of person situation learning match. Entrepreneurship Theory and Practice, 31(4), 561–583.doi.org/10.1111/j.1540-6520.2007.00188.x
Dowling, G. (1986). Perceived risk: The concept and its measurement.
Psychology and Marketing,3, 193–210.doi.org/10.1002/mar.4220030307
Dyer, W.G. (1994). Toward a theory of entrepreneurial careers.
Entrepreneurship Theory and Practice, 19(2), 7–
21.doi.org/10.1177/104225879501900202
Elston, J. & Audretsch, D. (2010). Risk attitudes, wealth and sources of
entrepreneurial start-up capital. Journal of Economic Behavior & Organization, 76(1), 82-89.doi.org/10.1016/j.jebo.2010.02.014
Fairlie, R. & Holleran, W. (2012). Entrepreneurship training, risk aversion and other personality traits: Evidence from a random experiment. Journal of Economic Psychology, 33(2), 366-378.doi.org/10.1016/j.joep.2011.02.001
Faragó, K., Kiss, O. & Boros, J. (2008). Risk-taking in entrepreneurs,
compared to criminals and students: The role of uncertainty and stakes. The Journal of Socio-Economics, 37(6), 2231 2241.doi.org/10.1016/j.socec.2008.04.004
Forbes, D.P. (2007). Reconsidering the strategic implications of decision
comprehensiveness. Academy of Management Review,32(3), 361–
376 doi.org/10.5465/amr.2007.24349585
Forlani, D. & Mullins, J. (2000). Perceived risks and choices in entrepreneurs'new venture decisions. Journal of Business Venturing, 15(4), 305-322 doi.org/10.1016/S0883-9026(98)00017-2
Fossen, F. (2012). Gender differences in entrepreneurial choice and risk
aversion – a decomposition based on a microeconometric model. Applied
Economics, 44(14), 1795-1812.doi.org/10.1080/00036846.2011.554377
Frisch, D. & Baron, J. (1988). Ambiguity and rationality. Journal of Behavioral Decision Making,1(3), 149–157.doi.org/10.1002/bdm.3960010303
Giddens, A. (1990). Le conseguenze della modernità. Fiducia e rischio,
sicurezza e pericolo. Bologna: Il Mulino.
Gimeno, J., Folta, T.B., Cooper, A.C. & Woo, C.Y. (1997). Survival of the
fittest? Entrepreneurial human capital and the persistence of underperforming firms. Administrative Science Quarterly, 42(4), 750–783. DOI:10.2307/2393656
Giordano Martínez, K., Herrero Crespo, Á. & Fernández-Laviada, A. (2015).
Influence of perceived risk on entrepreneurial desirability and feasibility:
multidimensional approach for nascent entrepreneurs. Journal of Risk
Research, 20(2), 218-236.doi.org/10.1080/13669877.2015.1042506
Gomez-Mejia, L.R. & Balkin, D.B. (1989).Effectiveness of individual and
aggregate compensation strategies. Industrial Relations, 28(3), 431-
445.doi.org/10.1111/j.1468-232X.1989.tb00736.x
Grant, M.J. & Booth, A (2009). A typology of reviews: an analysis of 14 review types and associated methodologies. Health Information and Libraries Journal, 26(2), 91-108.doi.org/10.1111/j.1471-1842.2009.00848.x
Hamböck, C., Hopp, C., Keles, C. & Vetschera, R. (2017). Risk aversion in
Entrepreneurship Panels: Measurement Problems and Alternative
Explanations. Managerial and Decision Economics, 38(7), 1046-
1057.doi.org/10.1002/mde.2844
Hormiga, E. & Bolívar-Cruz, A. (2012). The relationship between the migration experience and risk perception: A factor in the decision to become an entrepreneur. International Entrepreneurship and Management Journal, 10(2), 297-317.doi.org/10.1007/s11365-012-0220-9
House, R., Hanges, P., Javidan, M., Dorfman, P., & Gupta, V. (2004).Culture,
Leadership, and Organizations: The Globe Study of 62Societies. London:
Sage.
Huybrechts, J., Voordeckers, W. & Lybaert, N. (2012). Entrepreneurial Risk
Taking of Private Family Firms. Family Business Review, 26(2), 161-
179.doi.org/10.1177/089448651246925220
Hvide, H. & Panos, G. (2014). Risk tolerance and entrepreneurship. Journal of Financial Economics, 111(1), 200-223.doi.org/10.1016/j.jfineco.2013.06.001
Janney, J. & Dess, G. (2006). The risk concept for entrepreneurs
reconsidered: New challenges to the conventional wisdom. Journal of
Business Venturing, 21(3), 385-400.doi.org/10.1016/j.jbusvent.2005.06.003
Kahneman, D. (2015). “Pensieri lenti e veloci”. Milano, Mondadori.
Kahneman, D. & Tversky, A. (1979). Prospect theory: An analysis of decision under risk. Econometrica,47(2), 263–290.
Kelley, D., Bosma, N. & Amorós, J.E. (2011).Global Entrepreneurship Monitor 2010 Global Report.
Knight, F.H. (1921) [2002].Risk, Uncertainty and Profit. Washington, DC:
Beard Books.
Kokinov, B. (2007). Can mass media and the educational institutions change the entrepreneurial culture? A study of how a single story can change the risktaking behaviour of individuals. Global Business and Economics Review,9(2/3), 286.
Koudstaal, M., Sloof, R. & van Praag, M. (2016). Risk, Uncertainty, and
Entrepreneurship: Evidence from a Lab-in-the-Field Experiment. Management Science, 62(10), 2897-2915.doi.org/10.1287/mnsc.2015.2249
Kreiser, P., Marino, L., Dickson, P. & Weaver, K. (2010). Cultural Influences
on Entrepreneurial Orientation: The Impact of National Culture on Risk Taking and Proactiveness in SMEs. Entrepreneurship Theory and Practice, 34(5),959-983.doi.org/10.1111/j.1540-6520.2010.00396.x
Kreiser, P., Marino, L., Kuratko, D. & Weaver, K. (2012). Disaggregating
entrepreneurial orientation: the non-linear impact of innovativeness,
proactiveness and risk-taking on SME performance. Small Business
Economics, 40(2), 273-291.doi.org/10.1007/s11187-012-9460-x
Lamin, A., McCarthy, D. & Puffer, S. (2018). Entrepreneurial orientation in a
hostile and turbulent environment: risk and innovativeness among successful Russian entrepreneurs. European J. of International Management, 12(1/2), 191.doi.org/10.1504/EJIM.2018.089033
Liesch, P., Welch, L. & Buckley, P. (2011).Risk and Uncertainty in
Internationalisation and International Entrepreneurship Studies. Management International Review, 51(6), 851-873.doi.org/10.1057/9781137402387_3
Lopera, M. & Marchand, S. (2018). Peer effects and risk-taking among
entrepreneurs: Lab-in-the-field evidence. Journal of Economic Behavior &
Organization, 150, 182-201.doi.org/10.1016/j.jebo.2018.04.011
March, J.G. & Shapira, Z. (1987).Managerial perspectives on risk and risk
taking. Management Science,33(11), 1404–
1418.doi.org/10.1287/mnsc.33.11.1404
McCarthy, B. (2000). The cult of risk taking and social learning: a study of
Irish entrepreneurs. Management Decision, 38(8), 563-575.doi.org/10.1108/00251740010378291
McGrath, R., MacMillan, I. & Scheinberg, S. (1992). Elitists, risk-takers, and
rugged individualists? An exploratory analysis of cultural differences between entrepreneurs and non-entrepreneurs. Journal of Business Venturing, 7(2), 115-135 doi.org/10.1016/0883-9026(92)90008-F
21
Memili, E., Eddleston, K., Kellermanns, F., Zellweger, T. & Barnett, T. (2010).
The critical path to family firm success through entrepreneurial risk taking and image. Journal of Family Business Strategy, 1(4), 200-209 doi.org/10.1016/j.jfbs.2010.10.005
Moher, D., Liberati, A., Tetzlaff, J. & Altman, D.G. (2009). Preferred reporting for systematic reviews and meta-analyses: The PRISMA statement. British Medical Journal, 338, b2535.
Murmann, J. & Sardana, D. (2012). Successful entrepreneurs minimize risk.
Australian Journal of Management, 38(1), 191-215 doi.org/10.1177/0312896212444114
Naldi, L., Nordqvist, M., Sjöberg, K. & Wiklund, J. (2007). Entrepreneurial
Orientation, Risk Taking, and Performance in Family Firms. Family Business
Review, 20(1), 33-47 doi.org/10.1111/j.1741-6248.2007.00082.x
Norton, W. & Moore, W. (2006).The Influence of Entrepreneurial Risk
Assessment on Venture Launch or Growth Decisions.Small Business
Economics, 26(3), 215-226 doi.org/10.1007/s11187-004-5612-y
Palich, L. & Ray Bagby, D. (1995). Using cognitive theory to explain
entrepreneurial risk-taking: Challenging conventional wisdom. Journal of
Business Venturing, 10(6), 425-438 doi.org/10.1016/0883-9026(95)00082-J
Parikakis, G., Merikas, A. &Vozikis, G. (2007).Economic and financial system dynamics in the relationship between entrepreneurial risk perception and the decision-making process of Greek investors. International Journal of Business and Systems Research, 1(4), 381 doi.org/10.1504/IJBSR.2007.016419
Petrakis, P. (2007). The effects of risk and time on entrepreneurship.
International Entrepreneurship and Management Journal, 3(3), 277-
291 doi.org/10.1007/s11365-006-0026-8
Podoynitsyna, K., Van der Bij, H. & Song, M. (2011). The Role of Mixed
Emotions in the Risk Perception of Novice and Serial Entrepreneurs.
Entrepreneurship Theory and Practice, 36(1), 115-140.doi.org/10.1111/j.1540-6520.2011.00476.x
Rauch, A. & Frese, M. (2007). Let’s put the person back into entrepreneurship research: a meta-analysis on the relationship between business owners’personality traits, business creation, and success. European Journal of Work and Organizational Psychology, 16, 353–
385 doi.org/10.1080/13594320701595438
Runde, J. (1998). Clarifying Frank Knight’s discussion of the meaning of risk and uncertainty. Cambridge Journal of Economics,22(5), 539–
546 doi.org/10.1093/cje/22.5.539
Sakkthivel, A. & Sriram, B. (2012). Modelling the determinants that impact
risk-taking and entrepreneurship behaviour in emerging economies.
International Journal of Entrepreneurship and Small Business, 15(3),
376.doi.org/10.1504/IJESB.2012.045632
Salvato, C. (2002). Antecedents of entrerpeneurship in three types of family firms. JIBS Research Reports,2002-1 Jönköping, Sweden: Jönköping
International Business School.
Sarasvathy, D., Simon, H. & Lave, L. (1998). Perceiving and managing
business risks: differences between entrepreneurs and bankers. Journal of
22 Economic Behavior & Organization, 33(2), 207-225 doi.org/10.1016/S0167-2681(97)00092-9
Saunders, M., Lewis, P. & Thornhill, A. (2016).Research Methods for
Business Students. Seventh edition, Edinburgh, Pearson.
Sepúlveda, J. & Bonilla, C. (2014). The factors affecting the risk attitude in
entrepreneurship: evidence from Latin America. Applied Economics Letters,
21(8), 573-581 doi.org/10.1080/13504851.2013.875104
Sharma, P. (2004). An overview of the field of family business studies:
Current status and directions for the future. Family Business Review, 17(1),
1–36 doi.org/10.1111/j.1741-6248.2004.00001.x
Sitkin, S.B. & Pablo, A.L. (1992). Reconceptualizing the Determinants of Risk Behavior. Academy of Management Review, 17(1), 9–38 doi.org/10.5465/amr.1992.4279564
Sohn, K. (2016). The risk preferences of entrepreneurs in Indonesia. Bulletin of Economic Research, 69(3), 271-287.doi.org/10.1111/boer.12088
Tan, J. (2001). Innovation and risk-taking in a transitional economy. Journal of Business Venturing, 16(4), 359-376 doi.org/10.1016/S0883-9026(99)00056-7
Thaler, R.H. (2018). “Misbehaving. La nascita dell’economia comportamentale”. Torino, Einaudi.
Tyszka, T., Cieślik, J., Domurat, A. & Macko, A. (2011). Motivation, selfefficacy,and risk attitudes among entrepreneurs during transition to a market economy. The Journal of Socio-Economics, 40(2), 124-
131 doi.org/10.1016/j.socec.2011.01.011
Ucbasaran, D., Westhead, P. & Wright, M. (2008). Opportunity identification
and pursuit: does an entrepreneur’s human capital matter?.Small Business
Economics, 30(2), 153–173 doi.org/10.1007/s11187-006-9020-3
Van Praag, C. & Cramer, J. (2001). The Roots of Entrepreneurship and
Labour Demand: Individual Ability and Low Risk Aversion. Economica,
68(269), 45-62 doi.org/10.1111/1468-0335.00232
Vereshchagina, G. & Hopenhayn, H. (2009). Risk Taking by Entrepreneurs.
American Economic Review, 99(5), 1808-1830 DOI: 10.1257/aer.99.5.1808
Wu, B. & Knott, A. (2006). Entrepreneurial Risk and Market Entry. Management Science, 52(9), 1315-1330.doi.org/10.1287/mnsc.1050.0543
Xu, H. & Ruef, M. (2004). The myth of the risk-tolerant entrepreneur. Strategic Organization, 2(4), 331-355 doi.org/10.1177/1476127004047617
Zahra, S. (2005).Entrepreneurial Risk Taking in Family Firms. Family
Business Review, 18(1), 23-40 doi.org/10.1111/j.1741-6248.2005.00028.x
Zahra, S. (2018). Entrepreneurial Risk Taking in Family Firms: The Wellspringof the Regenerative Capability. Family Business Review, 31(2), 216-226 doi.org/10.1111/j.1741-6248.2005.00028.x
motivations: Evidence from transition economies. Economics Letters, 160, 7-11.doi.org/10.1016/j.econlet.2017.08.016
Andersen, S., Di Girolamo, A., Harrison, G. & Lau, M. (2014). Risk and time
preferences of entrepreneurs: evidence from a Danish field experiment.
Theory and Decision, 77(3), 341-357.doi.org/10.1007/s11238-014-9446-z
Barber, D. (2015). An experimental analysis of risk and entrepreneurial
attitudes of university students in the USA and Brazil.Journal of InternationalEntrepreneurship, 13(4), 370-389.doi.org/10.1007/s10843-015-0161-9
Bauman, Z. (2014). La società dell’incertezza. Bologna: Il Mulino.
Beck, U. (2018). La società del rischio. Verso una seconda modernità. Roma:Carocci editore.
Blaug, M. (2000). Entrepreneurship before and after Schumpeter, in
Entrepreneurship. In Swedberg, R. (a cura di).The social science view.
Oxford: Oxford University Press, 78-124.
Block, J., Sandner, P. & Spiegel, F. (2013). How Do Risk Attitudes Differ
within the Group of Entrepreneurs? The Role of Motivation and Procedural
Utility. Journal of Small Business Management, 53(1), 183-206.
Boermans, M. & Willebrands, D. (2017). Entrepreneurship, risk perception
and firm performance. International Journal of Entrepreneurship and Small
Business, 31(4), 557.
Booth, A., Papaioannou, D. & Sutton, A. (2012).Sistematic Approaches to a
Successful Literature Review. London, Sage Publications.
Bouncken, R., Cesinger, B. & Kraus, S. (2014). The role of entrepreneurial
risks in the intercultural context: a study of MBA students in four nations.
European J. of International Management, 8(1),
20.doi.org/10.1504/EJIM.2014.058483
Brachert, M., Hyll, W. & Titze, M. (2016).On the simultaneity bias in the
relationship between risk attitudes, entry into entrepreneurship and
entrepreneurial survival. Applied Economics Letters, 24(7), 477-
480.doi.org/10.1080/13504851.2016.1203056
Caggese, A. (2012). Entrepreneurial risk, investment, and innovation. Journalof Financial Economics, 106(2), 287-307.doi.org/10.1016/j.jfineco.2012.05.009
Caliendo, M., Fossen, F. & Kritikos, A. (2007). Risk attitudes of nascent
entrepreneurs–new evidence from an experimentally validated survey. Small Business Economics, 32(2), 153-167.doi.org/10.1007/s11187-007-9078-6
Caliendo, M., Fossen, F. & Kritikos, A. (2010).The impact of risk attitudes on
entrepreneurial survival. Journal of Economic Behavior & Organization, 76(1), 45-63.doi.org/10.1016/j.jebo.2010.02.012
Cantillon, R. (1755). Essai sur la Nature du Commerce en Géneral. London:
Macmillan for the Royal Economic Society, 1931 [trad. it. Saggio sulla natura del commercio in generale. Torino, Einaudi, 1974].
Carney, S.M. &Geddes, J.R. (2002). Systematic Reviews and Meta-analyses. Evidence in Mental Health Care. Hove: Brunner Routledge.
Costa, L. & Mainardes, E. (2015).The role of corruption and risk aversion in
entrepreneurial intentions. Applied Economics Letters, 23(4), 290-
293.doi.org/10.1080/13504851.2015.1071462
Cramer, J., Hartog, J., Jonker, N. & Van Praag, C. (2002). Low risk aversion
encourages the choice for entrepreneurship: an empirical test of a truism.
Journal of Economic Behavior & Organization, 48(1), 29-36.doi.org/10.1016/S0167-2681(01)00222-0
Cui, Y., Sun, C., Xiao, H. & Zhao, C. (2016). How to become an excellent
entrepreneur: The moderating effect of risk propensity on alertness to
business ideas and entrepreneurial capabilities. Technological Forecasting
and Social Change, 112, 171-177.doi.org/10.1016/j.techfore.2016.08.002
Dai, L., Maksimov, V., Gilbert, B. & Fernhaber, S. (2014). Entrepreneurial
orientation and international scope: The differential roles of innovativeness,
proactiveness, and risk-taking. Journal of Business Venturing, 29(4), 511-
524.doi.org/10.1016/j.jbusvent.2013.07.004
Denyer, D. & Tranfield, D. (2009).‘Producing a Systematic Review’, in
Buchanan, D.A. & Bryman, A. (eds), The Sage Handbook of Organisational
Research Methods. London: Sage, 671-689.
Dimov, D. (2007). From opportunity insight to opportunity intention: the
importance of person situation learning match. Entrepreneurship Theory and Practice, 31(4), 561–583.doi.org/10.1111/j.1540-6520.2007.00188.x
Dowling, G. (1986). Perceived risk: The concept and its measurement.
Psychology and Marketing,3, 193–210.doi.org/10.1002/mar.4220030307
Dyer, W.G. (1994). Toward a theory of entrepreneurial careers.
Entrepreneurship Theory and Practice, 19(2), 7–
21.doi.org/10.1177/104225879501900202
Elston, J. & Audretsch, D. (2010). Risk attitudes, wealth and sources of
entrepreneurial start-up capital. Journal of Economic Behavior & Organization, 76(1), 82-89.doi.org/10.1016/j.jebo.2010.02.014
Fairlie, R. & Holleran, W. (2012). Entrepreneurship training, risk aversion and other personality traits: Evidence from a random experiment. Journal of Economic Psychology, 33(2), 366-378.doi.org/10.1016/j.joep.2011.02.001
Faragó, K., Kiss, O. & Boros, J. (2008). Risk-taking in entrepreneurs,
compared to criminals and students: The role of uncertainty and stakes. The Journal of Socio-Economics, 37(6), 2231 2241.doi.org/10.1016/j.socec.2008.04.004
Forbes, D.P. (2007). Reconsidering the strategic implications of decision
comprehensiveness. Academy of Management Review,32(3), 361–
376 doi.org/10.5465/amr.2007.24349585
Forlani, D. & Mullins, J. (2000). Perceived risks and choices in entrepreneurs'new venture decisions. Journal of Business Venturing, 15(4), 305-322 doi.org/10.1016/S0883-9026(98)00017-2
Fossen, F. (2012). Gender differences in entrepreneurial choice and risk
aversion – a decomposition based on a microeconometric model. Applied
Economics, 44(14), 1795-1812.doi.org/10.1080/00036846.2011.554377
Frisch, D. & Baron, J. (1988). Ambiguity and rationality. Journal of Behavioral Decision Making,1(3), 149–157.doi.org/10.1002/bdm.3960010303
Giddens, A. (1990). Le conseguenze della modernità. Fiducia e rischio,
sicurezza e pericolo. Bologna: Il Mulino.
Gimeno, J., Folta, T.B., Cooper, A.C. & Woo, C.Y. (1997). Survival of the
fittest? Entrepreneurial human capital and the persistence of underperforming firms. Administrative Science Quarterly, 42(4), 750–783. DOI:10.2307/2393656
Giordano Martínez, K., Herrero Crespo, Á. & Fernández-Laviada, A. (2015).
Influence of perceived risk on entrepreneurial desirability and feasibility:
multidimensional approach for nascent entrepreneurs. Journal of Risk
Research, 20(2), 218-236.doi.org/10.1080/13669877.2015.1042506
Gomez-Mejia, L.R. & Balkin, D.B. (1989).Effectiveness of individual and
aggregate compensation strategies. Industrial Relations, 28(3), 431-
445.doi.org/10.1111/j.1468-232X.1989.tb00736.x
Grant, M.J. & Booth, A (2009). A typology of reviews: an analysis of 14 review types and associated methodologies. Health Information and Libraries Journal, 26(2), 91-108.doi.org/10.1111/j.1471-1842.2009.00848.x
Hamböck, C., Hopp, C., Keles, C. & Vetschera, R. (2017). Risk aversion in
Entrepreneurship Panels: Measurement Problems and Alternative
Explanations. Managerial and Decision Economics, 38(7), 1046-
1057.doi.org/10.1002/mde.2844
Hormiga, E. & Bolívar-Cruz, A. (2012). The relationship between the migration experience and risk perception: A factor in the decision to become an entrepreneur. International Entrepreneurship and Management Journal, 10(2), 297-317.doi.org/10.1007/s11365-012-0220-9
House, R., Hanges, P., Javidan, M., Dorfman, P., & Gupta, V. (2004).Culture,
Leadership, and Organizations: The Globe Study of 62Societies. London:
Sage.
Huybrechts, J., Voordeckers, W. & Lybaert, N. (2012). Entrepreneurial Risk
Taking of Private Family Firms. Family Business Review, 26(2), 161-
179.doi.org/10.1177/089448651246925220
Hvide, H. & Panos, G. (2014). Risk tolerance and entrepreneurship. Journal of Financial Economics, 111(1), 200-223.doi.org/10.1016/j.jfineco.2013.06.001
Janney, J. & Dess, G. (2006). The risk concept for entrepreneurs
reconsidered: New challenges to the conventional wisdom. Journal of
Business Venturing, 21(3), 385-400.doi.org/10.1016/j.jbusvent.2005.06.003
Kahneman, D. (2015). “Pensieri lenti e veloci”. Milano, Mondadori.
Kahneman, D. & Tversky, A. (1979). Prospect theory: An analysis of decision under risk. Econometrica,47(2), 263–290.
Kelley, D., Bosma, N. & Amorós, J.E. (2011).Global Entrepreneurship Monitor 2010 Global Report.
Knight, F.H. (1921) [2002].Risk, Uncertainty and Profit. Washington, DC:
Beard Books.
Kokinov, B. (2007). Can mass media and the educational institutions change the entrepreneurial culture? A study of how a single story can change the risktaking behaviour of individuals. Global Business and Economics Review,9(2/3), 286.
Koudstaal, M., Sloof, R. & van Praag, M. (2016). Risk, Uncertainty, and
Entrepreneurship: Evidence from a Lab-in-the-Field Experiment. Management Science, 62(10), 2897-2915.doi.org/10.1287/mnsc.2015.2249
Kreiser, P., Marino, L., Dickson, P. & Weaver, K. (2010). Cultural Influences
on Entrepreneurial Orientation: The Impact of National Culture on Risk Taking and Proactiveness in SMEs. Entrepreneurship Theory and Practice, 34(5),959-983.doi.org/10.1111/j.1540-6520.2010.00396.x
Kreiser, P., Marino, L., Kuratko, D. & Weaver, K. (2012). Disaggregating
entrepreneurial orientation: the non-linear impact of innovativeness,
proactiveness and risk-taking on SME performance. Small Business
Economics, 40(2), 273-291.doi.org/10.1007/s11187-012-9460-x
Lamin, A., McCarthy, D. & Puffer, S. (2018). Entrepreneurial orientation in a
hostile and turbulent environment: risk and innovativeness among successful Russian entrepreneurs. European J. of International Management, 12(1/2), 191.doi.org/10.1504/EJIM.2018.089033
Liesch, P., Welch, L. & Buckley, P. (2011).Risk and Uncertainty in
Internationalisation and International Entrepreneurship Studies. Management International Review, 51(6), 851-873.doi.org/10.1057/9781137402387_3
Lopera, M. & Marchand, S. (2018). Peer effects and risk-taking among
entrepreneurs: Lab-in-the-field evidence. Journal of Economic Behavior &
Organization, 150, 182-201.doi.org/10.1016/j.jebo.2018.04.011
March, J.G. & Shapira, Z. (1987).Managerial perspectives on risk and risk
taking. Management Science,33(11), 1404–
1418.doi.org/10.1287/mnsc.33.11.1404
McCarthy, B. (2000). The cult of risk taking and social learning: a study of
Irish entrepreneurs. Management Decision, 38(8), 563-575.doi.org/10.1108/00251740010378291
McGrath, R., MacMillan, I. & Scheinberg, S. (1992). Elitists, risk-takers, and
rugged individualists? An exploratory analysis of cultural differences between entrepreneurs and non-entrepreneurs. Journal of Business Venturing, 7(2), 115-135 doi.org/10.1016/0883-9026(92)90008-F
21
Memili, E., Eddleston, K., Kellermanns, F., Zellweger, T. & Barnett, T. (2010).
The critical path to family firm success through entrepreneurial risk taking and image. Journal of Family Business Strategy, 1(4), 200-209 doi.org/10.1016/j.jfbs.2010.10.005
Moher, D., Liberati, A., Tetzlaff, J. & Altman, D.G. (2009). Preferred reporting for systematic reviews and meta-analyses: The PRISMA statement. British Medical Journal, 338, b2535.
Murmann, J. & Sardana, D. (2012). Successful entrepreneurs minimize risk.
Australian Journal of Management, 38(1), 191-215 doi.org/10.1177/0312896212444114
Naldi, L., Nordqvist, M., Sjöberg, K. & Wiklund, J. (2007). Entrepreneurial
Orientation, Risk Taking, and Performance in Family Firms. Family Business
Review, 20(1), 33-47 doi.org/10.1111/j.1741-6248.2007.00082.x
Norton, W. & Moore, W. (2006).The Influence of Entrepreneurial Risk
Assessment on Venture Launch or Growth Decisions.Small Business
Economics, 26(3), 215-226 doi.org/10.1007/s11187-004-5612-y
Palich, L. & Ray Bagby, D. (1995). Using cognitive theory to explain
entrepreneurial risk-taking: Challenging conventional wisdom. Journal of
Business Venturing, 10(6), 425-438 doi.org/10.1016/0883-9026(95)00082-J
Parikakis, G., Merikas, A. &Vozikis, G. (2007).Economic and financial system dynamics in the relationship between entrepreneurial risk perception and the decision-making process of Greek investors. International Journal of Business and Systems Research, 1(4), 381 doi.org/10.1504/IJBSR.2007.016419
Petrakis, P. (2007). The effects of risk and time on entrepreneurship.
International Entrepreneurship and Management Journal, 3(3), 277-
291 doi.org/10.1007/s11365-006-0026-8
Podoynitsyna, K., Van der Bij, H. & Song, M. (2011). The Role of Mixed
Emotions in the Risk Perception of Novice and Serial Entrepreneurs.
Entrepreneurship Theory and Practice, 36(1), 115-140.doi.org/10.1111/j.1540-6520.2011.00476.x
Rauch, A. & Frese, M. (2007). Let’s put the person back into entrepreneurship research: a meta-analysis on the relationship between business owners’personality traits, business creation, and success. European Journal of Work and Organizational Psychology, 16, 353–
385 doi.org/10.1080/13594320701595438
Runde, J. (1998). Clarifying Frank Knight’s discussion of the meaning of risk and uncertainty. Cambridge Journal of Economics,22(5), 539–
546 doi.org/10.1093/cje/22.5.539
Sakkthivel, A. & Sriram, B. (2012). Modelling the determinants that impact
risk-taking and entrepreneurship behaviour in emerging economies.
International Journal of Entrepreneurship and Small Business, 15(3),
376.doi.org/10.1504/IJESB.2012.045632
Salvato, C. (2002). Antecedents of entrerpeneurship in three types of family firms. JIBS Research Reports,2002-1 Jönköping, Sweden: Jönköping
International Business School.
Sarasvathy, D., Simon, H. & Lave, L. (1998). Perceiving and managing
business risks: differences between entrepreneurs and bankers. Journal of
22 Economic Behavior & Organization, 33(2), 207-225 doi.org/10.1016/S0167-2681(97)00092-9
Saunders, M., Lewis, P. & Thornhill, A. (2016).Research Methods for
Business Students. Seventh edition, Edinburgh, Pearson.
Sepúlveda, J. & Bonilla, C. (2014). The factors affecting the risk attitude in
entrepreneurship: evidence from Latin America. Applied Economics Letters,
21(8), 573-581 doi.org/10.1080/13504851.2013.875104
Sharma, P. (2004). An overview of the field of family business studies:
Current status and directions for the future. Family Business Review, 17(1),
1–36 doi.org/10.1111/j.1741-6248.2004.00001.x
Sitkin, S.B. & Pablo, A.L. (1992). Reconceptualizing the Determinants of Risk Behavior. Academy of Management Review, 17(1), 9–38 doi.org/10.5465/amr.1992.4279564
Sohn, K. (2016). The risk preferences of entrepreneurs in Indonesia. Bulletin of Economic Research, 69(3), 271-287.doi.org/10.1111/boer.12088
Tan, J. (2001). Innovation and risk-taking in a transitional economy. Journal of Business Venturing, 16(4), 359-376 doi.org/10.1016/S0883-9026(99)00056-7
Thaler, R.H. (2018). “Misbehaving. La nascita dell’economia comportamentale”. Torino, Einaudi.
Tyszka, T., Cieślik, J., Domurat, A. & Macko, A. (2011). Motivation, selfefficacy,and risk attitudes among entrepreneurs during transition to a market economy. The Journal of Socio-Economics, 40(2), 124-
131 doi.org/10.1016/j.socec.2011.01.011
Ucbasaran, D., Westhead, P. & Wright, M. (2008). Opportunity identification
and pursuit: does an entrepreneur’s human capital matter?.Small Business
Economics, 30(2), 153–173 doi.org/10.1007/s11187-006-9020-3
Van Praag, C. & Cramer, J. (2001). The Roots of Entrepreneurship and
Labour Demand: Individual Ability and Low Risk Aversion. Economica,
68(269), 45-62 doi.org/10.1111/1468-0335.00232
Vereshchagina, G. & Hopenhayn, H. (2009). Risk Taking by Entrepreneurs.
American Economic Review, 99(5), 1808-1830 DOI: 10.1257/aer.99.5.1808
Wu, B. & Knott, A. (2006). Entrepreneurial Risk and Market Entry. Management Science, 52(9), 1315-1330.doi.org/10.1287/mnsc.1050.0543
Xu, H. & Ruef, M. (2004). The myth of the risk-tolerant entrepreneur. Strategic Organization, 2(4), 331-355 doi.org/10.1177/1476127004047617
Zahra, S. (2005).Entrepreneurial Risk Taking in Family Firms. Family
Business Review, 18(1), 23-40 doi.org/10.1111/j.1741-6248.2005.00028.x
Zahra, S. (2018). Entrepreneurial Risk Taking in Family Firms: The Wellspringof the Regenerative Capability. Family Business Review, 31(2), 216-226 doi.org/10.1111/j.1741-6248.2005.00028.x
Copyright and licensing: The journal supports the principles contained in the Berlin Declaration on Open Access to scientific literature (2003), reiterated in the Italian CRUI Guidelines on Open Access journals. Copyright Notice: papers made open to the public are published under the CC BY--4.0 license.
Archiving : This journal uses the LOCKSS system to create an archiving system, which is distributed between participating libraries and enables them to search through the permanent archives of the journal for the purposes of conservation and restoration. All journal data and publications are also saved and stored directly on the platform