A Risk Perception Primer: A Narrative Research Review of the Risk Perception Literature in Behavioral Accounting and Behavioral Finance

Ricciardi, Victor

doi:10.2139/ssrn.566802

Cited by 39 publications

(28 citation statements)

References 240 publications

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“…In contrast, holding a risk-as-a-threat schemata (the downside of risk and potential losses) would also lead individual's to see recession in a negative way (a threatening context). This is also consistent with Kahneman and Tversky's prospect theory which suggests that there are cognitive biases that influence people's choices (and hence perceptions) under risky conditions (see Boholm 1998;Ricciardi 2004;Roszkowski & Davey 2010). Moreover, Roszkowski and Davey (2010) highlight there is a mutual interdependence.…”

Section: Environmental Economic Contextsupporting

confidence: 82%

Considering business start-up in recession time

Nabi

Liñán

2013

International Journal of Entrepreneurial Behavior &Amp; Research

123

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Purpose-The purpose of this study is to examine under-researched psychological and environmental factors related to entrepreneurial motivation and intention. This helps us to explore the links between risk perception (risk as opportunity and risk as threat), economic context (in a recession), entrepreneurial motivation (personal attitudes and perceived behavioral control) and intention for new venture creation. Design/methodology/approach-A sample of 619 individuals from two European countries, Spain and Great Britain, is studied. A range of control variables have been considered, including demographics, human /social capital, and country effects. Structural Equation Modeling is used to analyze the relationships among the model constructs. Findings-The structural model broadly holds and adequately fits the data. Entrepreneurial risk perception is strongly linked with entrepreneurial motivation. Entrepreneurial motivation, in turn, is strongly linked with entrepreneurial intention. It suggests, therefore, an indirect effect of risk perception on intentions. Further, economic context is directly linked with entrepreneurial intention. Implications-Results from this exploratory study suggest a role of risk perception in establishing the entrepreneurial intention of individuals. Therefore, greater attention should be paid to this element in 2 entrepreneurship education programs. Similarly, perceptions about the economic (recessionary) environment also have to be taken into account, with the purpose of letting students understand the possibilities that are present in a recessionary situation. Originality/value-This is the first time that perceptions about risk and the economic context are tested within the theory of planned behavior, and they have been shown to significantly contribute to explaining intention.

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Section: Environmental Economic Contextsupporting

confidence: 82%

Considering business start-up in recession time

Nabi

Liñán

2013

International Journal of Entrepreneurial Behavior &Amp; Research

123

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“…With such work, a common ground will be forged between traditionalists and behaviouralists, while at the same time identifying contexts where behavioural research is expected to have the most predictive power. This is because the true significance of interdisciplinary research is providing scholars in the field a fuller understanding and improved body of knowledge concerning the past, present, and future direction (Ricciardi, 2004).…”

Section: Resultsmentioning

confidence: 99%

“…Framing issues occur when indistinguishable or equivalent depictions of outcomes or items result in different final decisions or inclinations (Ricciardi, 2004).…”

Section: Common Pointsmentioning

confidence: 99%

Behaviour of Individuals and Institutions in Relation to Finance and Accounting

Bali¹

2012

jisr

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This study seeks to delve into the depths of the behaviour of individuals and institutions in relation to finance and accounting and the end effects on markets performance. It is based on a research that digs up informations on the history, models and theories that sum up the whole concept. The research also seeks to determine the reliability of assumptions and neo classical thoughts of experts. Main relationships explored include consumers, market prices, attitudes and relationship between finance and accounting among others. The main topics explored throughout the article include models and counter criticisms. This article is thus geared towards shedding more light on these matters in the hope that a better understanding of the addressed topics will result in an informed and appropriate application of the same.

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“…Experiments in the burgeoning field of behavioral finance identify several other situational elements and heuristics [Ricciardi, 2003], each of which might assist an overpromoter to implant or spread disinformation. Glaeser [2003] notes that selfinterested investors are more likely to accept and to hold overlong to beliefs that make them happier (i.e., promise to make them wealthier) and more likely to indoctrinate others in these beliefs when their missionary work promises to increase the price of assets they hold.…”

Section: Hyper-rational Expectations Vs Herded Rationalitymentioning

confidence: 99%

Charles Kindleberger: An Impressionist in a Minimalist World

Kane

2005

Atl Econ J

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Minimalist economists stubbornly resist Charles Kindleberger’s characterization of investor expectations in a financial bubble as “irrational.” This paper seeks to resolve the controversy by imbedding Kindleberger’s well-researched, impressionistic theory of financial crises into an expanded, but still-minimalist model of rational expectations. Introducing the concepts of malicious disinformation and rational overpromotion creates an informational environment in which it is time-consuming and costly to distinguish fact from fiction. Rationality still requires that expectations and market fundamentals move together over long periods of time, but dishonorable overpromoters can earn substantial profits in the interim. Copyright IAES 2005

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A Risk Perception Primer: A Narrative Research Review of the Risk Perception Literature in Behavioral Accounting and Behavioral Finance

Cited by 39 publications

References 240 publications

Considering business start-up in recession time

Considering business start-up in recession time

Behaviour of Individuals and Institutions in Relation to Finance and Accounting

Charles Kindleberger: An Impressionist in a Minimalist World

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