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Factors influencing the risk appetite of SMEs: an exploratory study of Greek SMEs

Georgousopoulou, M., Chipulu, M., Ojiako, U. and Johnson, J.E. (2010) Factors influencing the risk appetite of SMEs: an exploratory study of Greek SMEs , Southampton, GB University of Southampton (Centre for Risk Research: Working Paper Series, CRR-10-03).

Record type: Monograph (Working Paper)


The management of risk within small and medium enterprises (SMEs) is complicated due to various structural and economic factors associated with the SME sector. This paper focuses on one aspect of risk management in SMEs, namely the risk appetite which underpins their investment decisions. Data is gathered, via a survey, from a sample of SMEs operating in Greece, using both questionnaires and diagrammatic probability allocations. The data is analyzed using a combination of regression models and binomial tests for differences in proportions. The results suggest that we cannot, as previous literature suggests, conclude that SMEs generally exhibit a negative risk appetite. In particular, we found that Greek SMEs risk appetite was dependent on factors such as the type of investment being considered.
Keywords: risk, appetite, SMEs, Greece

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Published date: March 2010
Keywords: risk, appetite, SMEs, greece


Local EPrints ID: 79273
PURE UUID: 59f77ffd-571e-4955-b2a6-13b76f1b1a2d
ORCID for M. Chipulu: ORCID iD

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Date deposited: 11 Mar 2010
Last modified: 18 Jul 2017 23:18

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Author: M. Georgousopoulou
Author: M. Chipulu ORCID iD
Author: U. Ojiako
Author: J.E. Johnson

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