CEO Tenure and Risk-Taking

This paper conducts a systematic analysis of the effect of CEO tenure on risk-taking. We document an overall positive relation between tenure and risk-taking. The results are inconsistent with viewing tenure primarily as an indicator of human capital investment. Though we can not rule out the explanations based on the power and experience effects of tenure, our results are more consistent with interpreting tenure as the career concerns of a manager. Consistent with this interpretation and recent theoretical work, we show that the effect of CEO tenure on risk-taking depends on the information asymmetry about CEO ability

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Year of publication:	2014
Authors:	Chen, Dong
Other Persons:	Zheng, Yudan (contributor)
Publisher:	[2014]: [S.l.] : SSRN
Subject:	Führungskräfte \| Managers \| Betriebszugehörigkeit \| Job tenure \| Risikopräferenz \| Risk attitude \| Risiko \| Risk \| Corporate Governance \| Corporate governance

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Extent:	1 Online-Ressource (26 p)
Type of publication:	Book / Working Paper
Language:	English
Notes:	In: Global Business and Finance Review, 2014, vol. 19, issue 1, p1-27 Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments August 10, 2014 erstellt
Other identifiers:	10.2139/ssrn.2038064 [DOI]
Classification:	G30 - Corporate Finance and Governance. General ; G34 - Mergers; Acquisitions; Restructuring; Corporate Governance
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10013066261