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Credit rationing or entrepreneurial risk aversion? A comment
Fecha
2013-05Registro en:
Economics Letters, 2013, August 2013, pages 329-331
Economics Letters, vol. 120, n° 2, p.329-331
Autor
Vergara, Marcos
Bonilla, Claudio A.
Institución
Resumen
Cressy (2000) argues that the positive correlation between assets and the rate of business startups is due to DARA preferences. We show however that the required property is prudence,and prudence is consistent with DARA, IARA or CARA