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

Macroeconomic Uncertainty and Risk: Collective Optimism of Small-Business Owners 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. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Entrepreneurship Theory and Practice SAGE

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

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References (56)

Publisher
SAGE
Copyright
© The Author(s) 2021
ISSN
1042-2587
eISSN
1540-6520
DOI
10.1177/1042258720985475
Publisher site
See Article on Publisher Site

Abstract

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.

Journal

Entrepreneurship Theory and PracticeSAGE

Published: Sep 1, 2022

Keywords: risk; uncertainty; collective optimism

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