Journal of Scientific Papers


© CSR, 2008-2019
ISSN 2071-789X

91th percentile
Powered by  Scopus

Directory of Open Access Journals (DOAJ)

Strike Plagiarism

  • General Founder and Publisher:

    Centre of Sociological Research


  • Publishing Partners:

    University of Szczecin (Poland)

    Széchenyi István University, (Hungary)

    Mykolas Romeris University (Lithuania)

    Alexander Dubcek University of Trencín (Slovak Republic)

  • Membership:

    American Sociological Association

    European Sociological Association

    World Economics Association (WEA)




Entrepreneurial alertness and profitability of micro firms: The role of risk-taking

Vol. 14, No 4, 2021

Hieu Minh Vu


Van Lang University

Ho Chi Minh, Vietnam


ORCID 0000-0001-9525-2013

Entrepreneurial alertness and profitability of micro firms: The role of risk-taking


Chijioke Nwachukwu*


Horizons University Paris, France;

Department of Financial Technologies South Ural State University Chelyabinsk, 

Russian Federation


ORCID 0000-0002-7982-2810

*Corresponding author 


Abstract. This study provides insights on entrepreneurial alertness (EA), risk-taking and profitability of micro-sized firms. The direct effects of entrepreneurial alertness on profitability, risk-taking on entrepreneurial alertness and the moderating mechanism of risk-taking are assessed. This research uses surveys completed by micro-sized firms in Ghana. Hypotheses were developed based on the literature review and were validated using data from 150 firms. It was observed that entrepreneurial alertness has significant influence on the profitability of microfirms. Similarly, risk-taking has a predictive impact on entrepreneurial alertness. The connection between entrepreneurial alertness and profitability is not enhanced when risk-taking is added as a moderator. Theoretically, our paper adds to the entrepreneurship literature by using the contingency theory to explain the moderating impact of risk-taking on the entrepreneurial alertness-profitability relationship. Further, the study informs entrepreneurs in developing countries who operate in challenging and volatile business environments of the importance of alertness and risk-taking to profitability.


Received: March, 2021

1st Revision: October, 2021

Accepted: November, 2021


DOI: 10.14254/2071-789X.2021/14-4/6

JEL ClassificationD02, O17, P31

Keywords: risk taking, entrepreneurial alertness, profitability