Replication data for: Risk Taking by Entrepreneurs

Principal Investigator(s):  View help for Principal Investigator(s) Galina Vereshchagina; Hugo A. Hopenhayn

Version:  View help for Version V1

Name File Type Size Last Modified
LICENSE.txt text/plain 14.6 KB 10/12/2019 06:00:AM
Tgl.m text/plain 1.4 KB 10/12/2019 06:00:AM
Vkl.m text/plain 1.6 KB 10/12/2019 06:00:AM
Wg.m text/plain 397 bytes 10/12/2019 06:00:AM
benchmark_simulation_results.mat application/octet-stream 13.9 MB 10/12/2019 06:00:AM
parameters.m text/plain 361 bytes 10/12/2019 06:00:AM
premium.m text/plain 1.3 KB 10/12/2019 06:00:AM
readme.txt text/plain 418 bytes 10/12/2019 06:00:AM
risk_taking.m text/plain 4.2 KB 10/12/2019 06:00:AM
u.m text/plain 208 bytes 10/12/2019 06:00:AM

Project Citation: 

Vereshchagina, Galina, and Hopenhayn, Hugo A. Replication data for: Risk Taking by Entrepreneurs. Nashville, TN: American Economic Association [publisher], 2009. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E113334V1

Project Description

Summary:  View help for Summary Entrepreneurs bear substantial risk, but empirical evidence shows no sign of a positive premium. This paper develops a theory of endogenous entrepreneurial risk taking that explains why self-financed entrepreneurs may find it optimal to invest in risky projects offering no risk premium. Consistently with empirical evidence, the model predicts that poorer entrepreneurs are more likely to undertake risky projects. It also finds that incentives for risk taking are stronger when agents are impatient. (JEL G31, G32, L25, L26)

Scope of Project

JEL Classification:  View help for JEL Classification
      G31 Capital Budgeting; Fixed Investment and Inventory Studies; Capacity
      G32 Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
      L25 Firm Performance: Size, Diversification, and Scope
      L26 Entrepreneurship


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V1 [2019-10-12]

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