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JOURNAL OF APPLIED BUSINESS AND ECONOMICS
Part-Time Entrepreneurship and Risk Tolerance
Author(s): Kameliia Petrova
Citation: Kameliia Petrova, (2018) "Part-Time Entrepreneurship and Risk Tolerance," Journal of Applied Business and Economics, Vol. 20, Iss.1, pp.120-131
Article Type: Research paper
Publisher: North American Business Press
Abstract:
This paper looks at the relationship between part-time entrepreneurship and risk tolerance. Part-time entrepreneurs split their time between entrepreneurial ventures and wage employment. I offer a simple model of entrepreneurial entry where individuals choose part-time, instead of full-time, entrepreneurship because they want to gain basic experience. This might be product, industry or market experience; or one related to individual-specific characteristics. People with a lower level of risk tolerance will need to first spend time acquiring this experience, and hence opting for an initial part-time involvement, before growing a full-size business. Empirical tests of the model implications are included.
