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J Appl Psychol. 2004 Feb;89(1):3-13.

Risk propensity differences between managers and entrepreneurs and between low- and high-growth entrepreneurs: a reply in a more conservative vein.

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  • 1miner_john_b@msn.com

Abstract

A recent article (W. H. Stewart & P. L. Roth, 2001) in the Journal of Applied Psychology presented the conclusion from meta-analysis that entrepreneurs have a higher risk propensity than managers and that this propensity is particularly pronounced among the growth-oriented. A previously unresolved question was said to be laid to rest and a "vital component" of a theory of entrepreneurship established. The present article disagrees and cites data from 14 studies not included in the Stewart and Roth (2001) analysis, adding up to a conclusion (supported by new meta-analyses) that entrepreneurs (and those with a growth orientation) are more risk avoidant. Thus, a conservative view, retaining the position that the role of risk propensity in entrepreneurship remains unresolved, is upheld. Potential explanations for the conflicting results are explored.

((c) 2004 APA, all rights reserved)

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PMID:
14769116
[PubMed - indexed for MEDLINE]
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