The influence of cognitive frames on small business entrepreneurs' perception of risk concepts
by Mike Peters; Janette Walde; Johannes Brustbauer
International Journal of Management and Enterprise Development (IJMED), Vol. 17, No. 3, 2018

Abstract: This study aims at analysing the influence of cognitive frames on small business entrepreneurs' perception of risk concepts in certain stages of their working life. A principal component analysis (PCA) based on the results of a survey questionnaire reveals that entrepreneurs perceive risk according to the entrepreneurship literature, i.e., as opportunity, as variance, and as downside loss. Analysis of variance (ANOVA) results show a statistically significant influence of cognitive frames, operationalised by personal characteristics, on one risk concept: While the perception of risk as downside loss increases with education and age, it decreases when reaching a certain level of experience. The approach also reveals that personal characteristics are practically not influencing the perception of risk concepts.

Online publication date: Fri, 27-Jul-2018

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