CEOs' general managerial skills and corporate risk taking subject to the moderator of CEO tenure

被引：0
|
作者：
Leng, Tiecheng [1 ]
Pan, Luyao [2 ]
机构：
[1] Harbin Inst Technol, Sch Management, Harbin, Peoples R China
[2] South China Normal Univ, Int Business Coll, Foshan, Peoples R China
来源：
EUROPEAN FINANCIAL MANAGEMENT | 2023年 / 29卷 / 05期
基金：
中国国家自然科学基金;
关键词：
CEO tenure; CEOs' general managerial skills; firm risk; WORK EXPERIENCE; OVERCONFIDENCE; LIFE; ACQUISITIONS; INCENTIVES; SPECIALIST; GOVERNANCE; RISKINESS; COST;
D O I：
10.1111/eufm.12401
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
In this study, we examine the relation between chief executive officers' (CEOs') general managerial skills and firms' risk-taking behaviour. We find that generalist CEOs are associated with significantly higher firm risk, with the association decreasing significantly with CEO tenure. We propose the following managerial skills transformation explanation: the longer a CEO stays with a firm, the less general and more firm specific the CEO's skills and knowledge become; therefore, any effect of the CEO's general managerial skills only appears in the early years of tenure.
引用
收藏
页码：1620 / 1656
页数：37
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