Credit rationing or entrepreneurial risk aversion? A comment

Cressy (2000) argues that the positive correlation between assets and the rate of business startups is due to DARA preferences. We show however that the required property is prudence, and prudence is consistent with DARA, IARA or CARA.

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Year of publication:	2013
Authors:	Bonilla, Claudio A. ; Vergara, Marcos
Published in:	Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 120.2013, 2, p. 329-331
Publisher:	Elsevier
Subject:	Credit rationing \| Risk aversion \| Prudence \| Entrepreneurship

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Type of publication:	Article
Classification:	M2 - Business Economics ; M13 - Entrepreneurship ; G3 - Corporate Finance and Governance ; L2 - Firm Objectives, Organization, and Behavior
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010678828