Economic and financial system dynamics in the relationship between entrepreneurial risk perception and the decision-making process of Greek investors
by George S. Parikakis, Andreas Merikas, George S. Vozikis
International Journal of Business and Systems Research (IJBSR), Vol. 1, No. 4, 2007

Abstract: The levels of economic development in Greece along with other country specific institutional factors have been responsible for the decline on investment projects. Contrary to the conventional theory, this paper argues that perception of entrepreneurial risk is closely related to the leverage undertaken by an investment project. Our analysis suggests that entrepreneurial risk perception can be adequately understood, only if it is conceptualised as a multidimensional concept in specific financial dynamics. Also, jobs subsidised during the investment period have an adverse impact on investor's risk perception. These findings bear economic implications for economies that experience accelerated unemployment rates.

Online publication date: Fri, 28-Dec-2007

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