 Generation effects and managerial risk takingSiew-Boey Yeoh and Chee-Wooi Hooy Journal of Business Research, 2022, vol. 139, issue C, 918-934 Abstract: This study examines the generation effects on managerial risk-taking by decomposing between-generation variation and within-generation variation. Using 6,169 firm-year observations in Malaysia data from 2009 to 2017, for the between-generation effect, we find that Pre-War II and Pre-Independence CEOs undertake lower levels of risk-taking while Post-Independence and Development-Era CEOs undertake higher levels of risk-taking. For the within-generation effect, we find that CEOs who have experienced the traumatic event during their impressionable year are relatively risk averse, which implies that among Pre-War II, Pre-Independence and Post-Independence CEOs, those who were pre-adulthood at the time of the event will be the most risk adverse. The cumulative impression, however, only significantly affects the Pre-War II CEOs because the layers of history may erode the traces of older time periods, while more recent cohort of CEOs have fewer new layers that can attenuate the strength of imprints over time; hence, significant effects were not observed. Keywords: Managerial risk-taking; CEO generation; Between-generation; Within-generation (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:jbrese:v:139:y:2022:i:c:p:918-934 DOI: 10.1016/j.jbusres.2021.09.063 Access Statistics for this article Journal of Business Research is currently edited by A. G. Woodside More articles in Journal of Business Research from Elsevier |
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