Fang, Hongyan; Nofsinger, John R. - In: Journal of Entrepreneurial Finance 13 (2009) 2, pp. 25-55
risk preference than other measures that do not include business income. In supportive of the risk substitution hypothesis … compartmentalize different risks and consider them separately, called mental accounting. Alternatively, the risk substitution … hypothesis suggests that entrepreneurs would offset high business income risk by selecting a more conservative investment …