Resilience, risk and entrepreneurship

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dc.citation.issue2
dc.citation.volume19
dc.contributor.authorShadbolt NM
dc.contributor.authorOlubode-Awosola F
dc.date.available2016-05-01
dc.date.issued2016-05-01
dc.descriptionMade available with permission. View the publisher's site here http://www.ifama.org/files/IFAMR/Vol19/Iss2/220140117.pdf
dc.description.abstractFarmers worldwide face an increasingly turbulent environment. Successful farmers are those that adapt to shifts in the environment to capture the opportunities from such disturbance and outperform those who do not adapt. Such farmers, the literature would suggest, are entrepreneurs, catalysts for change with a risk-taking propensity. The paper presents analysis of farmers grouped with respect to their attitude to risk. It identifies that those farmers that are risk seekers would be more accurately described as gamblers based on their performance over six years of volatility. The most successful group of farmers were risk neutral, had a strong business focus and skills, managing quite high levels of debt to good effect. They had a positive attitude to change and an ability to successfully adapt to changing conditions so best fit the broader definition of entrepreneur. The risk averse group carried less debt and also outperformed the risk seeking group with strong cash results and retained earnings. Farmers cannot be assumed to be successful catalysts for change just from their attitude to risk and a belief in their ability to manage risk; instead they are those whose results prove that they are successfully taking risks, have strong business skills and run efficient farm businesses.
dc.description.confidentialfalse
dc.format.extent33 - 52
dc.identifierhttps://www.ifama.org/Volume-19-Issue-2
dc.identifier.citationInternational Food and Agribusiness Management Review, 2016, 19 (2), pp. 33 - 52
dc.identifier.elements-id261479
dc.identifier.harvestedMassey_Dark
dc.identifier.issn1559-2448
dc.publisherInternational Food and Agribusiness Management Association
dc.publisher.urihttps://www.ifama.org/Volume-19-Issue-2
dc.relation.isPartOfInternational Food and Agribusiness Management Review
dc.subjectrisk attitude, perceptions and management, entrepreneurship, dairy farmers, New Zealand
dc.subject.anzsrc0701 Agriculture, Land and Farm Management
dc.titleResilience, risk and entrepreneurship
dc.typeJournal article
pubs.notesNot known
pubs.organisational-group/Massey University
pubs.organisational-group/Massey University/College of Sciences
pubs.organisational-group/Massey University/College of Sciences/School of Agriculture & Environment
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