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The private equity premium puzzle revisited: new evidence on the role of heterogeneous risk attitudes
Fossen, Frank M. - 2008
The empirical finding that entrepreneurs tend to invest a large share of their wealth in their own firms despite comparably low returns and high risk has become known as the private equity premium puzzle. This paper provides evidence supporting the hypothesis that lower risk aversion of...
Persistent link: https://www.econbiz.de/10010271074
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The Private Equity Premium Puzzle Revisited : New Evidence on the Role of Heterogeneous Risk Attitudes
Fossen, Frank M. - 2009
The empirical finding that entrepreneurs tend to invest a large share of their wealth in their own firms despite comparably low returns and high risk has become known as the private equity premium puzzle. This paper provides evidence supporting the hypothesis that lower risk aversion of...
Persistent link: https://www.econbiz.de/10013158383
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The Private Equity Premium Puzzle Revisited: New Evidence on the Role of Heterogeneous Risk Attitudes
Fossen, Frank M. - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2008
The empirical finding that entrepreneurs tend to invest a large share of their wealth in their own firms despite comparably low returns and high risk has become known as the private equity premium puzzle. This paper provides evidence supporting the hypothesis that lower risk aversion of...
Persistent link: https://www.econbiz.de/10005068887
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Risk Attitudes of Nascent Entrepreneurs: New Evidence from an Experimentally Validated Survey
Caliendo, Marco; Fossen, Frank M.; Kritikos, Alexander S. - 2006
The in°uence of risk aversion on the decision to become self-employed is a much discussed topic in the entrepreneurial … importantly and in contrast to previous research, we are able to examine whether the decision of starting a business is in …°uenced by objectively measurable risk attitudes at the time when this decision is made. Our results show that in general …
Persistent link: https://www.econbiz.de/10010297253
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Personality characteristics and the decision to become and stay self-employed
Caliendo, Marco; Fossen, Frank M.; Kritikos, Alexander S. - 2011
This paper systematically investigates whether different kinds of personality characteristics influence entrepreneurial development. On the basis of a large, representative household panel survey, we examine the extent to which the Big Five traits and further personality characteristics, which...
Persistent link: https://www.econbiz.de/10010304696
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Would a flat tax stimulate entrepreneurship in Germany? A behavioural microsimulation analysis allowing for risk
Fossen, Frank M. - 2008
When possible income tax reforms are debated, the suspected impact on entrepreneurship is often used as an argument in favour or against a certain policy. Quantitative ex-ante evaluations of the effect of certain tax reform options on entrepreneurship based on microeconometric research have not...
Persistent link: https://www.econbiz.de/10010324255
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Stated and revealed heterogeneous risk preferences in educational choice
Fossen, Frank M.; Glocker, Daniela - 2014
Stated survey measures of risk preferences are increasingly being used in the literature, and they have been compared to revealed risk aversion primarily by means of experiments such as lottery choice tasks. In this paper, we investigate educational choice, which involves the comparison of risky...
Persistent link: https://www.econbiz.de/10010331957
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Stated and revealed heterogeneous risk preferences in educational choice
Fossen, Frank M.; Glocker, Daniela - 2014
Stated survey measures of risk preferences are increasingly being used in the literature, and they have been compared to revealed risk aversion primarily by means of experiments such as lottery choice tasks. In this paper, we investigate educational choice, which involves the comparison of risky...
Persistent link: https://www.econbiz.de/10010333109
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Stated and Revealed Heterogeneous Risk Preferences in Educational Choice
Fossen, Frank M.; Glocker, Daniela - 2014
Stated survey measures of risk preferences are increasingly being used in the literature, and they have been compared to revealed risk aversion primarily by means of experiments such as lottery choice tasks. In this paper, we investigate educational choice, which involves the comparison of risky...
Persistent link: https://www.econbiz.de/10010333257
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Stated and revealed heterogeneous risk preferences in educational choice
Fossen, Frank M.; Glocker, Daniela - 2014
Stated survey measures of risk preferences are increasingly being used in the literature, and they have been compared to revealed risk aversion primarily by means of experiments such as lottery choice tasks. In this paper, we investigate educational choice, which involves the comparison of risky...
Persistent link: https://www.econbiz.de/10010334238