Management Characteristics and Corporate Risk-taking: An Overall Review
Abstract
We review the literature on the relationships between management characteristics and corporate risk-taking over the period 1985~2015 and find that the two types of management characteristics: the physical characteristics and the psychological ones lead to different risk-taking behavior and firm outcomes. Generally, the physical traits have impact on taking risk by psychological bias and the psychological traits affect risk-taking behavior directly. We also find that the researchers always use the traits of CEO or top management as the proxies to explain management behaviors.
Keywords
Review, Management characteristics, Corporate risk-taking, Financial policies
DOI
10.12783/dteees/peem2016/5036
10.12783/dteees/peem2016/5036
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