Credit rationing or entrepreneurial risk aversion? An alternative explanation for the Evans and Jovanovic finding

By R. Cressy. 2000

136 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics

View Paper: https://www.semanticscholar.org/paper/7c7e2ed39e9451140cab5d893cbe86869f2f327e

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Citations in the corpus

Entrepreneurship and Risk Aversion (2006, methodology): “The alternative explanation proposed by Cressy (2000) seems plausible.”
What do we know about entrepreneurial finance and its relationship with growth? (2015, background): “, 2004), entrepreneurial talent (Hurst and Lusardi, 2004), risk aversion (Cressy, 2000; Kan and Tsai, 2006), or entrepreneurial over-optimism (de Meza and Southey, 1996; Fraser and Greene, 2006).”
Founders' human capital and the growth of new technology-based firms: A competence-based view (2005, background): “If the greater financial resources of high human capital individuals are the main determinant of the above mentioned association, the effort of entrepreneurs, and the attention of policy makers should prevalently be drawn to how to fill the so called “funding gap” (Cressy, 2000).”
The Economics of Entrepreneurship: What We Know and What We Don't (2005, background): “Many alternative explanations that are not based on borrowing constraints can also explain such a relationship, including decreasing absolute risk aversion [53]; a preference for self-finance; over-optimism; and over-investment [58].”
Funding Gaps? Access To Bank Loans By High-Tech Start-Ups (2007, background): “6 Even in the absence of any correlation between individuals’ net worth and human capital, the positive relation between net worth and the likelihood of self-employment may be explained by the lower risk aversion of wealthier individuals (Cressy 2000).”
Drivers of Entrepreneurship and Post-Entry Performance of Newborn Firms in Developing Countries (2014, unknown): “However, some recent microeconometric studies have shown that the role of credit rationing has been somewhat over-emphasized and that entrepreneurial saving plans may be able to overcome borrowing constraints (Cressy 1996, 2000; Parker 2000; Hurst and Lusardi 2004).”
Risk Taking by Entrepreneurs (2009, background): “As an example, Cressy (2000) justifles risk-taking by entrepreneurs assuming that higher wealth makes agents less risk averse.”
Determinants of entrepreneurial engagement levels in Europe and the US (2008, background): “See Storey (1994), Davidsson, (2006) and Van der Zwan, Thurik and Grilo (2008).”
Schooling, Capital Constraints and Entrepreneurial Performance (2004, unknown): “For example, the empirical relationship might simply reflect decreasing absolute risk aversion (Cressy, 2000), or a positive competition externality (Black et al, 1996). obtained from bank file data.”
Entrepreneurs' human capital and the start-up size of new technology-based firms (2004, background): “Even in the absence of any correlation between individuals' net worth and human capital, the positive relation between net worth and the likelihood of self-employment may be explained by the lower risk aversion of richer individuals (see Cressy 2000).”