The effects of CEO equity ownership and firm diversification on risk taking

被引：139
|
作者：
Eisenmann, TR [1 ]
机构：
[1] Harvard Univ, Grad Sch Business Adm, Boston, MA 02163 USA
来源：
STRATEGIC MANAGEMENT JOURNAL | 2002年 / 23卷 / 06期
关键词：
risk taking; governance; CEO equity ownership; diversification;
D O I：
10.1002/smj.236
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This research explores the effects of CEO equity ownership and corporate diversification on firms' risk-taking and risk avoidance behaviors. Hypotheses regarding these effects are tested through econometric analysis of mergers in the U.S. cable television industry. Risk taking and avoidance are measured as horizontal expansion through acquisitions and as the divestiture of assets, respectively, in the face of increasing environmental turbulence. Copyright (D 2002 John Wiley Sons, Ltd.
引用
收藏
页码：513 / 534
页数：22
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