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Focusing on the risk attitudes of family businesses, this academic paper analyzes their willingness and aversion to risk through the lens of New Institutional Economics. It synthesizes findings from various economic theories and models, presenting a systematic literature review that compiles and condenses evidence from other scientific studies. The research aims to provide insights into how family businesses navigate risk in their decision-making processes.
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Risk Aversion in Family Firms in the Context of Economic Theories and Models, Daniel Ehrmann
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- 2020
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