Strategic Risk, Risk Perception and Risk Behaviour : Meta-Analysis

We examine the effects of strategic risk perception on behaviour through the meta-analysis of five studies. The extant literature suggests that if risk perception is high it can decrease risk-taking behaviour. The direction of the impact is generally accepted in the business and research community, however, the strength of that direction is not very clear. Using meta-analysis, five strategic risk studies are synthesized to gain clarity on this issue. The results reveal that high-risk perceptions exhibit a negative relationship with risk-taking behaviour. This effect should be understood and closely monitored when formally evaluating strategic risk in business decisions, projects and management