The Influence of Entrepreneurial Risk Assessment on Venture Launch or Growth Decisions

Entrepreneurs are thought to engage in riskier behavior than nonentrepreneurs, yet little empirical evidence supports that intuitively appealing notion. We argue instead that differences in information, not risk aversion, may explain the decision to launch or grow a venture. We separately test risk taking propensity and risk assessment. We hypothesize that entrepreneurs will not differ from nonentrepreneurs on risk taking propensity. Additionally, we propose and test a model of risk assessment. The sample size for this exploratory study is n=53 with 30 respondents declaring themselves as entrepreneurs and 23 declaring themselves as nonentrepreneurs. The study’s design is a simulation. Each respondent is provided with data on a potential acquisition that would result in either the launch of a new venture or significant growth for an existing firm. Consistent with the hypotheses, the results show no difference between entrepreneurs and nonentrepreneurs on the risk taking measure. We also find that we can predict entrepreneurial behavior based on risk assessment. We close with a discussion of limitations and directions for future research.     

The pot snack market – are today's consumers demanding health as well as convenience?

Identifying the target audience for hot pot snacks and which factors influence their buyer behaviour is vital information for product developers and manufacturers. The reported market research evaluated the effect of changing lifestyles on the growth of the pot snack market and investigated consumer opinion of pot snacks with particular regard to their nutritional status. This information is of particular interest to health professionals involved in improving the nation's health. A consumer questionnaire measured the opinion of pot snacks, frequency of consumption and influences on the growth of the pot snack market. The 150 consumers comprised 86 males and 64 females aged 11–74 years. The data was analysed using chi‐square (Statistical Package for Social Sciences). Results indicated that within the pot snack market, there are a variety of reasons determining the demand for pot snacks. The frequency of consumption is influenced by knowledge and opinion about the nutritional content of the pot snack product, suggest‐ing that consumers are now demanding health as well as convenience.     

Entrepreneurial Risk: Have We Been Asking the Wrong Question?

Entrepreneurs are often thought to engage in "risky" behaviors. Thus, they may be seen as more willing than average to take risks. We offer a dissenting view. Central to entrepreneurship is the alertness perspective which suggests that entrepreneurs may assess opportunities and threats differently than non-entrepreneurs. That differential assessment may be understood in terms of Bayesian probability. The Bayesian model argues that differing assessments of prospective outcomes may be attributable to differences in prior information. This perspective on risk assessment has implications for entrepreneurial decision making, whether to launch a new venture or adopt a growth strategy. The literature is reviewed, a synthesis is offered, a numerical example is developed, and a research agenda is proposed.     

Understanding postorganic fresh fruit and vegetable consumers at participatory farmers’ markets in Ireland: reflexivity,trust and social movements

This paper examines how trusting relations between consumers and vendors of organic fresh fruits and vegetables (FFVs) in a particular type of farmers’ market (FM) in Ireland are established and maintained, and what the implications of this are. First, the food system is outlined, and then its attendant problems. These problems have led to various solutions, two of which are organic food and FMs. Then, the growth in these two areas is outlined, as is the accompanying growth in the academic literature on these two areas, some of which overlaps. Various pressures, including in particular the increasing distance food travels and disconnected stallholders and products at the FM, are suggested. In light of this, a need to apply an understanding of the reflexive consumer, trust and social movements is suggested. It is found that the consumers interviewed act reflexively by choosing to go to these FMs. They prioritize the trusting relationships built up through repeated personal contact at these FMs over and above organic certification. Along with and as part of this, they prioritize local, fresh, seasonal ‘chemical‐free’ FFVs over and above imported certified organic produce. Various aspects of collective identity formation, including modes of behaviour, objects and stories, and language, are involved in this process. These elements, to some extent, act as a buffer against the pressures of distance and disconnection. Along with this, the essential meaning of the word organic is, in this particular context, reconstructed to include various socio‐environmental values missing from some certified organic produce. The word postorganic is suggested. The main methodologies used are semistructured in‐depth interviews and participant observation.     

Children and the Changing World of Advertising

Concerns about children's ability to fully comprehend and evaluate advertising messages has stimulated substantial research and heated debate among scholars, business leaders, consumer advocates, and public policy makers for more than three decades. During that time, some very fundamental questions about the fairness of marketing to children have been raised, yet many remain unresolved today. With the emergence of increasingly sophisticated advertising media, promotional offers and creative appeals in recent years, new issues have also developed. This paper provides a basis for further examination of some the key questions in this area, and suggests how children's advertising research can be employed to illuminate them.     

Salt or Sludge? Exploring Preferences for Potable Water Sources

Decision makers often use information about public preferences to guide public policy. Several disciplines gather information on preferences through surveys by asking respondents to make hypothetical choices over potential policies. However the context of the choice question differs between approaches, with some failing to make the full consequences of the respondent’s choice explicit in the question. In this study we investigate whether question context matters, by exploring whether economic and psychology approaches yield a similar understanding of community preferences towards a large-scale recycled wastewater scheme. We find that stated preferences differ depending on whether the preference question is contextualised using economic incentives. The findings provide insight into the implications of inappropriately contextualised preference questions, methodological considerations in attitude identification and estimation, and the diversity of values and public attitudes towards recycled wastewater.     

Interim Realities

Abstract

This paper presents findings from a study of information technology implementation practices in National Health Service hospitals in England. The results suggest that there is a general direction of travel, which involves the progressive linking together of individual systems, so that they are interoperable. We argue that the findings are consistent with meta-governance arguments, but that it is necessary to complement this perspective with an understanding of the nature of information technologies in order to understand them properly. We suggest that ‘interim systems’ will be the reality on the ground for many health care organizations for the foreseeable future.     

Multiracialism and Meritocracy: Singapore's Approach to Race and Inequality

This paper characterizes Singapore's efforts to tackle the problem of persistent racial inequality in terms of the notion of fair meritocracy. Singapore's race policy attempts to level the playing field through its unique race-based self-help organizations and a comprehensive, racially integrated, public housing program. Individuals are then sorted by the ostensibly objective mechanism of a standardized test based educational system. The social and economic implications of this policy are examined and, using summary data from the 1980 and 1990 censuses, the extent to which Singapore has been successful in creating a fair multiracial meritocracy is assessed.     

The Valuation of Equity Futures on the Tokyo Stock Exchange: 1920–1923

The futures price of an asset should depend on the spot price of that asset, the interest rate, cash flows during the contract term, the convenience yield, and storage costs. Despite many tests of the spot–future relation for commodities in historical periods, there have been no tests of this historical relation for equities. We price single‐stock equity futures on the Tokyo Stock Exchange between 1920 and 1923 and find that mispricing is considerably worse than in contemporary U.S. markets, after adjusting for (unavoidable) asynchronous data issues. The main cause of the mispricing is short‐sales constraints, rather than investor naivety. © 2012 Wiley Periodicals, Inc. Jrl Fut Mark     

Social Status,Entry and Predation: The Case of British Shipping Cartels 1879–1929

The authors incorporate social status and regional affiliation—two variables of central sociological interest—into an economic analysis of entry and predation. They build on Scott Morton’s [1997] examination of entry and predation in the merchant shipping industry and examine whether the social status of an entrant owner impacts on the predation behavior of the incumbent cartels. They find that high social status entrants are significantly less likely (40%) to be preyed upon than the low social status entrants. They discuss several interpretations of this result. Subsequent analysis supports the hypothesis that cartel members use social status as an indicator of an entrant’s propensity to be a cooperative cartel participant.