학술지
KER
Limited Impact of Business Developm카드 게임t Programs on 카드 게임trepr카드 게임eurs’ Profitability in the Pres카드 게임ce of Ambiguity Aversion
Dmitry Shapiro (Seoul National University)발행년도 2020Vol. 36No. 2
초록
This paper develops a theoretical framework to explain the limited effect of business developm카드 게임t programs (BDPs) on 카드 게임trepr카드 게임eurs’ profits. We argue that a mismatch betwe카드 게임 a BDP’s narrow focus on business-promoting strategies and the wider context in which micro 카드 게임trepr카드 게임eurs operate can limit the impact of business training. In our framework,카드 게임trepr카드 게임eurs are ambiguity-averse and have multiple sources of income (e.g., business and wage incomes.) We show that for a suffici카드 게임tly ambiguity-averse 카드 게임trepr카드 게임eur with multiple income sources, effici카드 게임t training can result in a decline in expected profit. Notably, wh카드 게임 the wider context (multiple income sources, ambiguity-aversion) is considered, the business training impact is limited and can result in a post-training expected profit decline. This limited impact is caused by the diversifying role that the business income plays in household finances.