Advances in Entrepreneurial Finance With Applications from Behaviora
Advances in Entrepreneurial Finance brings together contributions from researchers from the fields of entrepreneurship, behavioral finance, psychology, and neuroscience to shed new light on the dynamics of decision making and risk taking by entrepreneurs
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Advances in Entrepreneurial Finance With Applications from Behavioral Finance and Economics
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Advances in Entrepreneurial Finance
Rassoul Yazdipour
Advances in Entrepreneurial Finance With Applications from Behavioral Finance and Economics
Rassoul Yazdipour California State University Fresno, CA, USA [email protected]
ISBN 978-1-4419-7526-3 e-ISBN 978-1-4419-7527-0 DOI 10.1007/978-1-4419-7527-0 Springer New York Dordrecht Heidelberg London Library of Congress Control Number: 2010938798 © Springer Science+Business Media, LLC 2011 All rights reserved. This work may not be translated or copied in whole or in part without the written permission of the publisher (Springer Science+Business Media, LLC, 233 Spring Street, New York, NY 10013, USA), except for brief excerpts in connection with reviews or scholarly analysis. Use in connection with any form of information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed is forbidden. The use in this publication of trade names, trademarks, service marks, and similar terms, even if they are not identified as such, is not to be taken as an expression of opinion as to whether or not they are subject to proprietary rights. Printed on acid-free paper Springer is part of Springer Science+Business Media (www.springer.com)
Foreword
The study of entrepreneurship is vital to continued growth and innovation in our society. At its most basic level, entrepreneurship is a means for individuals to lift themselves out of poverty and to create jobs for others. The new businesses that are started each year offer the promise of wealth and independence to the entrepreneurs who take on the inherent risks. At a broader level, however, the entrepreneurs who bring truly new and innovative products and services to the market offer something even more important to all members of the community. These are the new businesses that are responsible for much of the economic growth in our economy and the progress in our standard of living. The long history of new business ideas that changed our daily lives is familiar to all of us. From the radio and the television to the personal computer and new medical technologies, these innovations benefited – and continue to benefit – many more people than the entrepreneurs and their employees. Innovations promise greater prosperity for society as a whole. A greater understanding of entrepreneurship and its drivers is critical to the continued growth of our economy. It is only through the study of new businesses and their founders that we will identify the motivation to start a business and understand the entrepreneurial process, the financing of these businesses, the challenges entrepreneurs face, and the policies and institutions that encourage greater entrepreneurial activity. The Ewing Marion Kauffman Foundation has devoted significant resources toward this effort at an academic level, working with economists and others who study this important phenomenon. In addi
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