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Entrepreneurial intention is regarded as a useful and practical approach to understanding actual entrepreneurial behavior. Planned behavior has been widely applied to examine entrepreneurial intention. Nevertheless, how risk aversion affects entrepreneurial intention using the model of planned behavior is not well understood. The purpose of this paper is to develop an integrated model based on planned behavior to examine the direct and indirect effect of risk aversion on entrepreneurial intention concurrently.

The paper first uses factor analysis to study the latent constructs underlying determinants of planned behavior, risk aversion, and entrepreneurial intention. Then, it applies the technique of structural equation modeling to explore relationships among latent constructs. There are 306 survey responses collected from dental school students to run the analysis.

The determinants of planned behavior are positively associated with entrepreneurial intention. There is no direct relationship between risk aversion and entrepreneurial intention. Risk aversion only indirectly reduces entrepreneurial intention through determinants of planned behavior.

The results of the integrated model may be constrained by the sample context of dental students. Replicating the model by using other samples with various educational backgrounds can strengthen the implication of the study. Another limitation is the weakness of the cross-sectional study design, leaving room for improvement by using longitudinal data in the future.

Risk aversion only indirectly reduces entrepreneurial intention. To establish an environment with a strong entrepreneurial intention, a focus on developing a positive attitude and strengthening entrepreneurial skills are perhaps more fruitful than lowering risk aversion. This study also suggests that non-business students may need additional business education to improve the perception of self-efficacy.

The integrated model of this paper is original. The development of the model draws support from planned behavior adjusted to the context of starting a business.

Agricultural insurance has become increasingly important to farmers' livelihood and production in rural China. Yet despite the enormous governmental subsidizing efforts, the insurance participation rate remains below expectations. This study revisits the linkage between farmers' risk attitudes and crop insurance utilization by providing a cross-cutting perspective such that the role of risk aversion is re-scrutinized in Chinese “kindred” village economies.

The authors administrated a lottery-based multiple price list (MPL) experiment by recruiting rice farmers from 12 villages in Sichuan province in southwestern China. Using the experimental data, farmers' risk attitudes are assessed and coefficients of risk aversion are estimated within the rank-dependent expected utility (RDEU) framework by maximizing a structured likelihood function.

This study provides substantiating evidence that rice farmers in southwestern China exhibit relatively high risk aversion. The authors also provide suggestive evidence of the positive relationship between farmers' risk aversion and crop insurance utilization. In addition, findings reveal that kinship network has a negative effect on crop insurance utilization, such that farmers who are connected in higher degree of kinship network have lower likelihood of crop insurance utilization, which suggests that kinship network may be substitute for formal crop insurance. Result also demonstrates that the incentive effect of risk aversion on farmers' crop insurance participation manifests differently depending on the degree of kinship network in rural China.

This study provides a cross-cutting perspective by scrutinizing the effects of farmers' risk attitudes and kinship network on crop insurance participation in rural China, which has received relatively little attention in the literature. Conclusions on the effects of risk aversion on crop insurance participation have been mixed in previous studies. In addition, to the best of our knowledge, little has been done to explicitly examine the influence of social proximity and networks on farmers' insurance uptake. This study attempts to fill both gaps. This study provides new insights which might shed lights on the understanding of farmers' crop insurance participation in rural China.

People differ in the extent to which they dispositionally monitor their projected images, expressive behavior and self-presentation according to the contingencies of the situations. Building on Snyder’s self-monitoring theory, this paper aims to assess the influences of self-monitoring on entrepreneurial intention and explain the process responsible for these effects. Because high self-monitors and low self-monitors differ in their ability to adapt their self-presentation and patterns of behaviors to the contingencies of the situation, it was reasonable to suspect that chameleon-like high self-monitors will be more prone to entrepreneurship than true-to-themselves low self-monitors.

Based on a sample of 296 respondents, a self-administered questionnaire assessing the attitude toward entrepreneurship, risk aversion, entrepreneurial intentions and the four dimensions of self-monitoring (acting ability, extraversion, other-directedness and speaking ability), and other control variables was conducted.

The findings of this study generally support that self-monitoring has relevance in predicting an individual’s entrepreneurial intentions. Because high self-monitors have more acting and speaking abilities, are more extroverted and are more concerned with how others perceive them than are low self-monitors, they would be more likely to start a business and become business owners as they possess favorable attitudes toward entrepreneurship. The overall result regarding risk aversion fails to support a mediating relationship between self-monitoring and entrepreneurial intentions. However, at the same time, the findings confirm that risk aversion directly reduces entrepreneurial intention.

The findings expand the implementation of Snyder’s self-monitoring theory in the entrepreneurship arena and make an important contribution to the many additions and alterations that have been implemented to the theory of planned behavior in the entrepreneurship literature to better explain entrepreneurial intentions and behaviors. The results add to these works by demonstrating that self-monitoring is a trait that influences the attitude toward entrepreneurship. Also, attitude toward entrepreneurship was found to be a mediator of the relationship between self-monitoring and entrepreneurial intentions. The limitation concerns the use of a convenience sample of students and cross-sectional data.

The outcomes of this study suggest greater utility for developers of educational curriculums, training programs and start-up knowledge in entrepreneurship. Targeting high self-monitors for training and educational programs in entrepreneurship and including the dimensions of self-monitoring, particularly acting abilities, speaking abilities, extraversion and other-directedness, in entrepreneurship training content will make these programs more successful, offered to the correct target and able to provide personalized content. Building on these results, governments, policymakers, nonprofit organizations and universities who are concerned about the encouragement of entrepreneurial spirit might take advantage of self-monitoring in their awareness advertising campaigns.

Past research in psychology, management and marketing has provided empirical support for the major propositions of Snyder’s self-monitoring theory. Largely unaddressed, however, is the question of whether self-monitoring might be a driver to take steps to start a business. To the best of the author’s knowledge, this study is among the first studies – if not the first – to provide evidence that self-monitoring leads to more favorable attitudes and intentions in the entrepreneurship domain. The positive effects found here increase the importance of self-monitoring as an individual-difference construct that broadens the knowledge of why some people are more predisposed to entrepreneurship.

The purpose of this paper is to establish a deterministic equivalent income model (DEIM) based on the risk cost (RC) and risk aversion of investors. The model fully considers both subjective and objective factors that affect risk investment and reasonably evaluates risk investment schemes to choose the correct investment scheme and gain greater investment returns.

The utility function is used to measure the extent to which an investor is satisfied by investment returns in various scenarios. Risk aversion expresses subjective attitude of investors to risk. RC represents risk loss in currency. This methodology is based on risk aversion function, utility function and RC theory to establish DEIM.

This study shows that investors with different risk preferences have different certainty equivalent returns (CER), so their choices of investment options change accordingly.

In this paper, the authors use DEIM to test an investment case and conclude that the CER and investment scheme both change with different risk preferences. At the same time, case analysis shows that DEIM is reasonable and stable when evaluating risk investment schemes.

In this study, the authors innovate by introducing both the RC and risk aversion degree into risk investment schemes evaluation and by deriving a utility function from the absolute risk aversion function to build a utility decision matrix and establish DEIM. The model combines the subjective and objective factors that influence risk investment decisions.

In this study, visitors' attitudes and behavioural intentions towards camping/glamping tourism in Turkey during the pandemic were investigated using the extended theory of planned behaviour (TPB). The model has been extended to include constructs such as risk perception and risk aversion attitudes that stem from COVID-19 to predict visitors' attitudes and behavioural intentions.

The data were collected through an online questionnaire from 432 participants who have experience and interest in camping/glamping tourism in Turkey. The responses were analysed using the structural equation modelling (SEM).

The findings show that besides the basic TPB structures, other added variables also significantly affect visitors' attitudes and intentions. Moreover, it has been observed that the risk perception and risk aversion attitude derived from COVID-19 increase negative emotions in visitors and decreased behavioural intentions.

The results of the study are discussed for future research as well as its academic and practical implications.

This theoretical expansion is thought to increase the theory's predictive power in predicting visitors' behaviour during the pandemic.

The purpose of this study is to examine the behaviour of retail investors while making an investment decision and how it gets affected by the behavioural biases of the investors using a moderated-mediation framework.

A mixed method approach has been used to fulfil the objectives of the study. In the first study, a qualitative analysis of the interviews with 15 retail investors was conducted. As part of the quantitative study, a total of 201 responses from Indian retail investors were collected using systematic sampling and analysed using structural equation modelling and Process Macro.

The results indicate that anchoring bias, availability bias, herding bias, switching cost, sunk cost, regret avoidance and perceived threat have a significant effect on retail investors’ investing intention. The attitude of the investors towards investing decisions mediates the effects of behavioural bias and the status quo on investment intention. The results of the moderated-mediation analysis indicate that mediating effect of attitude varied at the low and high-risk aversion of investors.

The findings of this study will help regulators and retail investors to understand the critical behavioural biases which affect the investors’ investing intention.

The paper contributes to the literature on investors’ behaviour, status quo bias theory (SQB) and behavioural bias. This study uniquely proposes a moderated-mediation framework to understand the effects of biases on retail investors’ investment intention.

The purpose of this paper is to examine the influence of social support on young adults with disabilities (YAWDs) independent mobility behavior with the aim of understanding how better to support this vulnerable consumer segment in their transition into the workforce.

A survey was conducted which examined how social support (high and low) influenced YAWD’s path to independent mobility behavior. The data were analyzed using partial least squares-SEM.

It was identified that different factors were more effective at influencing independent mobility behavior for high and low socially supported YAWDs. For high social support individuals, anticipated positive emotions and perceived behavioral control were found to drive attitudes to independent mobility with perceived behavioral control significantly stronger for this group than the low socially supported group. For the low socially supported group, all factors were found to drive attitudes which then drove individual behavior. One entire path (risk aversion to anticipated negative emotions to attitude to behavior) was found to be stronger for low supported individuals compared to high.

This study is unique in that it is the first to identify the theoretical constructs that drive vulnerable consumer’s independence behavior and understand how these factors can be influenced to increase independence. It is also the first to identify that different factors influence independent behavior for vulnerable consumers with high and low social support with anticipated negative emotions important for consumers with low social support and perceived behavioral control important for those with high social support.

Using the NBER Shared Capitalism Database comprised of over 40,000 employee surveys from 14 firms, we investigate worker attitudes toward employee ownership, profit sharing, and variable pay. Specifically, our study uses detailed survey questions on preferences over profit sharing, forms of employee ownership like company stock and stock option ownership, as well as preferences over variable pay in general, to explore how preferences for these different types of output-contingent pay vary with worker risk aversion, residual control, and views of co-workers and management. Our key results show that, on average, workers want at least a part of their compensation to be performance-related, with stronger preferences for output-contingent pay schemes among workers who have lower levels of risk aversion, greater residual control over the work process, and greater trust of co-workers and management.

This case study aims to explore the perceptions and attitudes towards risk within a UK local authority and the subsequent effects on decision-making. Through a qualitative analysis of both primary and secondary data, this study advances current understanding of the complex relationships between risk and decision-making. The study concludes by suggesting how local governments may better provide value to constituents.

This research follows a single case study approach. Data were collected through both a focused online survey and semi-structured interviews. Respondents were selected through purposive sampling in order to capture direct insights and understanding of the concepts under consideration. The study focuses on a single local authority within the UK.

Building on extant literature, this case study highlights both the individual and organisational considerations towards risk perception. Following the analysis of collected data, the study highlights the influence of risk aversion and public involvement within decision-making.

By aiming to improve and advance understanding of risk and decision-making in a local authority setting, the relevance of this research may be wider than internal organisational structures. The study provides recommendations for further research towards facilitating the inclusion of the citizen within decision-making processes.

This study aims to examine that personality traits are associated with the investor’s ability to exhibit disposition effect, herding behavior and overconfidence. It also explores how risk-attitude can modify investor behavior by moderating the association between personality traits, disposition effect, herding and overconfidence.

Data were collected from 396 respondents by using personally administrated survey. Confirmatory factor analysis (CFA) was used to confirm the validity and reliability of data. Regression analysis was used to test the proposed hypotheses.

The results supported the proposed hypotheses and showed that extravert investors were more likely to exhibit disposition effect, herding and overconfidence. The conscientiousness trait was associated with disposition effect and overconfidence, while neuroticism was associated with herding behavior. The results confirmed the moderating effect of risk aversion on the association between personality traits, disposition effect, herding and overconfidence.

This study demonstrates how risk aversion modes the strength of association between psychological characteristics (represented by personality traits) and cognitive biases (disposition effect, herding and overconfidence). The results support the “auction” interpretation of investors' behavior by suggesting that personality traits are associated with investment decision-making and that investors are marginal price setters.