Macroeconomic Uncertainty and Risk : Collective Optimism of Small-Business Owners

Patel, Pankaj C. and Tsionas, Mike (2022) Macroeconomic Uncertainty and Risk : Collective Optimism of Small-Business Owners. Entrepreneurship Theory and Practice, 46 (5). pp. 1402-1422. ISSN 1042-2587

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How small-business owners assess uncertainty and risk in the macroeconomic environment to report optimism toward their business activity is an important research question for policymakers and academics alike. Drawing on a monthly optimism index and a variety of uncertainty and volatility (risk) trackers from January 1986 to June 2017, in line with the expectation that business owners dislike uncertainty in economic policy, economic policy uncertainty may lower optimism. Business investment and sentiment volatility, however, contributed positively to optimism. The findings provide preliminary implications for policymakers in targeting indicators salient to the optimism index of small-business owners.

Item Type:
Journal Article
Journal or Publication Title:
Entrepreneurship Theory and Practice
Additional Information:
The final, definitive version of this article has been published in the Journal, Entrepreneurship Theory and Practice, 46 (5), 2022, © SAGE Publications Ltd, 2022 by SAGE Publications Ltd at the Entrepreneurship Theory and Practice page: on SAGE Journals Online:
Uncontrolled Keywords:
?? riskuncertaintycollective optimismeconomics and econometricsbusiness and international management ??
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Deposited On:
07 Oct 2021 13:35
Last Modified:
15 Jul 2024 22:00