Foreign Experience of CEOs and Managerial Risk Taking

Siew-Boey Yeoh () and Chee-Wooi Hooy
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Siew-Boey Yeoh: Universiti Sains Malaysia

Malaysian Journal of Economic Studies, 2021, vol. 58, issue 2, 239-265

Abstract: Our paper uses a multidimensional analysis to provide a better insight on the relationship between CEO foreign experience and corporate risk-taking. By decomposing the foreign experience of CEOs from developing economies such as Malaysia, we find that CEOs who have studied in OECD countries undertake higher levels of risk-taking and CEOs’ foreign working experience may have an adverse effect on risk-taking behaviour especially if the working experience is obtained from non-OECD countries. Additional analysis reveals that younger CEOs and family CEOs with foreign working experience matter in reinforcing the firms’ risk-taking activities. Overall, our findings provide implication for researchers and policymakers seeking to nurture risk-taking behaviours and innovativeness in emerging countries.

Keywords: CEOs foreign experience; risk-taking; spillover effect; OECD countries (search for similar items in EconPapers)
JEL-codes: G31 G32 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:mjr:journl:v:58:y:2021:i:2:p:239-265

DOI: 10.22452/MJES.vol58no2.4

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