The Guanghua School of Management
Peking University
Department of Strategic Management
You are cordially invited to the following seminar hosted by the Department of Strategic Management (seminar 2009-2010 (06)) at the Guanghua School of Management.
Topic: RISK-TAKING IN ENTREPRENEURIAL DECISIONS: HOW AND WHEN
Venue: Room 110, The New Building of GSM, PKU
Time: 10:00 am -12:00 pm, April 14th, 2010 (Wednesday)
Speaker: Yan LI, Postdoctoral Research Fellow, Department of Management, City University of Hong Kong
Should you have any enquiries, please contact Ms. Xuan Wang of the Strategy Department: [email protected] .
Risk-taking in entrepreneurial decisions: how and when
Abstract
On the basis of the seminal work of Kahneman and Tversky (1979), this research extends the boundaries of prospect theory in investigating determinants and temporal variation of risk-taking in entrepreneurial decisions, such as creating a new business organization or investing a risky business project. The two experimental studies (1) identify entrepreneurial risk-taking in the gain situation and find reversal of risk preference after a dynamic entrepreneurial learning process, indicating that the framing effect of prospect theory in explaining entrepreneurial risk-taking is conditional. (2) Instead of weights, subjective judgment of the possibility of success of a risky project (subjective probability) consistently plays central moderating role in entrepreneurial decisions under uncertainty. (3) The slightly different effects of subjective probability between the two studies reveal that novice decision-makers are more value-driven, whereas experienced decision-makers tend to be risk averse regardless of the value of a risky project perceived as long as they lack of confidence of success.
CURRICULUM VITAE
Yan LI
April 2010
Postdoctoral Research Fellow
Department of Management
College of Business
City University of Hong Kong
Hong Kong SAR
Tel: (852) 3442-5677
FAX: (852) 2646-1546
Email: [email protected]
EDUCATION
2005-2008 PhD, Department of Management,
The Chinese University of Hong Kong
Hong Kong
2003-2005 MPhil, Department of Management,
The Chinese University of Hong Kong
Hong Kong
1993-1996 Master of Science, Department of Psychology,
Peking University,
