Risk attitude, product innovation, and firm growth. Evidence from Italian manufacturing firms

被引：40

作者：

Cucculelli, Marco ^{[1
]}

Ermini, Barbara ^{[1
]}

机构：

[1] Marche P Univ, Dept Econ & Social Sci, Fac Econ Giorgio Fua, I-60100 Ancona, Italy

来源：

ECONOMICS LETTERS | 2013年 / 118卷 / 02期

关键词：

Risk attitude; Entrepreneurship; Product innovation; Firm growth;

D O I：

10.1016/j.econlet.2012.11.006

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We study the impact of individual risk attitude on the relationship between product innovation and firm performance, in a model of firm growth with endogenous product selection. We exploit a unique dataset collecting firm-level data on new product introductions and individual attitudes towards risk elicited from a lottery. Empirical evidence shows that the introduction of a new product affects firm growth significantly only in the sample of risk-loving individuals, thus supporting the hypothesis of a negative correlation between the firm growth and the risk aversion of the decision maker. (C) 2012 Elsevier B.V. All rights reserved.

引用

页码：275 / 279

页数：5

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