Premium
Attitude toward Risk and Risk‐Taking Behavior of Business‐Owning Families
Author(s) -
XIAO JING J.,
ALHABEEB M. J.,
HONG GONGSOOG,
HAYNES GEORGE W.
Publication year - 2001
Publication title -
journal of consumer affairs
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.582
H-Index - 62
eISSN - 1745-6606
pISSN - 0022-0078
DOI - 10.1111/j.1745-6606.2001.tb00116.x
Subject(s) - affect (linguistics) , family business , business , marketing , business risks , survey data collection , net worth , actuarial science , demographic economics , economics , psychology , finance , risk analysis (engineering) , debt , communication , statistics , mathematics
Using data from the 1995 Survey of Consumer Finances, this study found that family business owners are more risk tolerant than nonowners. Among family business owners, age, race, net worth, and the number of employees in the business affect risk‐taking attitudes and behavior. In addition, the following factors are associated with risk‐taking behaviors: number of years of ownership, gross sales, who started the business, and sole proprietorship. Education influences risk‐taking attitudes.