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Muzaffarjon Ahunov, Dilnovoz Abdurazzakova and Nurmukhammad Yusupov
''Who creates jobs in transition economies? The role of entrepreneurial risk preferences.''
( 2019, Vol. 39 No.3 )
Entrepreneurs create jobs, but hiring outsiders is a risky decision. In this paper, using a large cross-country survey data, we find that more risk-tolerant entrepreneurs indeed tend to hire outside labor. However, the relationship between risk tolerance and likelihood of hiring appears to be non-monotonic in transition economies. We offer both demand and supply side explanations for this result, which has important policy implications.
Keywords: entrepreneurs, risk preferences, demand for labor, hiring
JEL: J2 - Demand and Supply of Labor: General
L2 - Firm Objectives, Organization, and Behavior: General
Manuscript Received : Feb 17 2019 Manuscript Accepted : Aug 20 2019

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