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Characteristics of Risk Taking Executives
Abstract
More than 500 top-level business executives were studied to ascertain the validity of common stereotypes of who takes risks and who avoids risks. We began with 13 risk measures based on theoretical grounds, naturally occurring situations, and attitudes. These measures were formed into seven consolidated measures using factor analysis. Data were gathered on numerous socio-economic variables including ones relating to personal, financial, and professional characteristics. When these characteristics were subjected to factor analysis, four main factors emerged. Linear discriminant analysis was used to address the question of whether risk takers can be differentiated from risk averters. The results were surprisingly clearcut. The most successful executives were the biggest risk takers; the most mature executives were the most risk averse.
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Cited by
A domain‐specific risk‐attitude scale: measuring risk perceptions and risk behaviors
Weber, E. U., Blais, A., & Betz, N. E. (2002) · Journal of Behavioral Decision Making · doi:10.1002/bdm.414 · Cited by 2,936
Reconceptualizing the Determinants of Risk Behavior
Sitkin, S. B., & Pablo, A. L. (1992) · The Academy of Management Review · doi:10.2307/258646 · Cited by 2,057
A Domain-Specific Risk-Taking (DOSPERT) scale for adult populations
Blais, A.-R., & Weber, E. U. (2006) · Judgment and Decision Making · doi:10.1017/s1930297500000334 · Cited by 1,286
SITKIN, S. B., & WEINGART, L. R. (1995) · Academy of Management Journal · doi:10.2307/256844 · Cited by 1,206
Risk Culture in Public and Private Organizations
Bozeman, B., & Kingsley, G. (1998) · Public Administration Review · doi:10.2307/976358 · Cited by 462
Metadata
- Authors
- MacCrimmon, K. R., & Wehrung, D. A.
- Venue
- Management Science
- Published
- 1990-04
- Volume
- 36
- Issue
- 4
- Pages
- 422-435
- ISSN
- 0025-1909 (ISSN-L)
- 1526-5501
- OpenAlex
- W2080211169
- Cited by
- 533
- References
- 0
- FWCI
- 2.78
- Type
- journal article
- Language
- en
- Open access
- closed
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- MacCrimmon, K. R., & Wehrung, D. A. (1990). Characteristics of Risk Taking Executives. Management Science. https://doi.org/10.1287/mnsc.36.4.422
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
