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Credit rationing or entrepreneurial risk aversion? : a comment
Bonilla, Claudio A.; Vergara, Marcos - In: Economics letters 120 (2013) 2, pp. 329-331
Persistent link: https://www.econbiz.de/10010128922
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Credit rationing or entrepreneurial risk aversion? A comment
Bonilla, Claudio A.; Vergara, Marcos - In: Economics Letters 120 (2013) 2, pp. 329-331
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.
Persistent link: https://www.econbiz.de/10010678828
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Credit rationing or entrepreneurial risk aversion? A comment
Vergara, Marcos; Bonilla, Claudio A. - Facultad de Economía y Negocios, Universidad del Desarrollo - 2012
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.
Persistent link: https://www.econbiz.de/10011188891