We use survey data on individual risk attitude and discount rates to test the impact of individual risk profile on the firm innovation activity and firm performance. Empirical evidence from 163 Italian entrepreneurs shows that risk-loving individuals and individuals with smaller than average discount rates introduce products that affect firm growth rates significantly.
Individual risk attitude, product innovation and firm performance. Evidence from survey data / Cucculelli, Marco; Ermini, Barbara. - In: ECONOMICS BULLETIN. - ISSN 1545-2921. - ELETTRONICO. - Vol. 32:No. 4(2012), pp. 3197-3212.