caa a22 4500 445877510 CHVBK 20180317145532.0 cr unu---uuuuu 170323e20110201xx s 000 0 eng 10.1007/s11187-009-9210-x doi (NATIONALLICENCE)springer-10.1007/s11187-009-9210-x Financing the entrepreneurial decision: an empirical approach using experimental data on risk attitudes [Elektronische Daten] [Julie Elston, David Audretsch] This paper empirically examines the role of personal capital in the entry decision for US high-technology entrepreneurs. Our innovative approach utilizes both survey data and data from economics-based field experiments, which enables us to elicit and control for the risk attitudes of individual entrepreneurs in the study. Empirical findings suggest that (1) Small Business Innovation Research (SBIR) grants, (2) credit cards, and (3) earnings from a salaried job are among the most important sources of funds for entrepreneurs in their decision to start up a firm. Our findings support Evans and Jovanovic (Journal of Political Economy 97(4):808-827, 1989) in that wealth appears to have a positive impact on the probability of starting up a firm, even when controlling for risk attitudes; however, risk attitudes do not appear to have a strong role to play in the entry decision overall. Policy implications suggest that firm start-ups are dependent on access to capital in both initial and early stages of development, and that government funding, including SBIR grants, is an important source of capital for potential and nascent high-technology entrepreneurs. Springer Science+Business Media, LLC., 2009 Entry nationallicence Experimental data nationallicence High-technology entrepreneurs nationallicence Liquidity constraints nationallicence Personal capital nationallicence Risk attitudes nationallicence SBIR nationallicence Elston Julie Oregon State University, Corvallis, OR, USA aut Audretsch David Indiana University, Bloomington, IN, USA aut Small Business Economics Springer US; http://www.springer-ny.com 36/2(2011-02-01), 209-222 0921-898X 36:2<209 2011 36 11187 https://doi.org/10.1007/s11187-009-9210-x text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1007/s11187-009-9210-x text/html Onlinezugriff via DOI NATIONALLICENCE 700 1- Elston Julie Oregon State University, Corvallis, OR, USA aut NATIONALLICENCE 700 1- Audretsch David Indiana University, Bloomington, IN, USA aut NATIONALLICENCE 773 0- Small Business Economics Springer US; http://www.springer-ny.com 36/2(2011-02-01), 209-222 0921-898X 36:2<209 2011 36 11187 Metadata rights reserved Springer special CC-BY-NC licence nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-springer