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Strategic risk behaviour and its temporalities: between risk propensity and decision context

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  • T. K. Das
  • Bing‐Sheng Teng

Abstract

What are the determinants of strategic risk behaviour? Are they the dispositional characteristics of decision makers or the situational constraints? Or both? The empirical evidence is on all sides. We believe the issue has not been satisfactorily resolved so far because of the continued neglect of the fundamental role of time in risk behaviour. Given that risk is embedded in time, we need to recognize two critical aspects of the temporal dimension. The first is concerned with risk horizons, as in short‐range and long‐range risk horizons. The second temporal aspect relates to individual future orientations of the top managers, as in near‐future and distant‐future orientations. We propose in this article a temporal framework of strategic risk behaviour in which the two temporalities are integrated with risk propensity and perceived decision context. We then develop, based on this temporal framework, the contingent answers for the relative roles of dispositional characteristics and situational constraints in determining strategic risk behaviour.

Suggested Citation

  • T. K. Das & Bing‐Sheng Teng, 2001. "Strategic risk behaviour and its temporalities: between risk propensity and decision context," Journal of Management Studies, Wiley Blackwell, vol. 38(4), pages 515-534, June.
    • Handle: RePEc:bla:jomstd:v:38:y:2001:i:4:p:515-534
    DOI: 10.1111/1467-6486.00247
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    Cited by:

    1. Sharma, Dheeraj & Alford, Bruce L. & Bhuian, Shahid N. & Pelton, Lou E., 2009. "A higher-order model of risk propensity," Journal of Business Research, Elsevier, vol. 62(7), pages 741-744, July.
    2. repec:dau:papers:123456789/5246 is not listed on IDEAS
    3. Simon Gollisch & Barbara Hedderich & Ludwig Theuvsen, 2016. "Reference points and risky decision-making in agricultural trade firms: A case study in Germany," Department of Agricultural and Rural Development (DARE) Discussion Papers 260773, Georg-August-Universitaet Goettingen, Department of Agricultural Economics and Rural Development (DARE).
    4. Scott, Susan V. & Barrett, Michael I., 2002. "The development of electronic trading in the futures industry: strategic risk positioning in a globalising age," LSE Research Online Documents on Economics 33904, London School of Economics and Political Science, LSE Library.
    5. Thomas Klueter & Felipe Monteiro, 2017. "How Does Performance Feedback Affect Boundary Spanning in Multinational Corporations? Insights from Technology Scouts," Journal of Management Studies, Wiley Blackwell, vol. 54(4), pages 483-510, June.
    6. Vicente Safón & Alejandro Escribá-Esteve, 2011. "Antecedents and consequences of external risk perception in franchising: evidence from the hospitality industry," Service Business, Springer;Pan-Pacific Business Association, vol. 5(3), pages 237-257, September.
    7. Hoon S. Choi & Darrell Carpenter & Myung S. Ko, 2022. "Risk Taking Behaviors Using Public Wi-Fi™," Information Systems Frontiers, Springer, vol. 24(3), pages 965-982, June.
    8. Yuval Kalish & Amalya L. Oliver, 2022. "Reducing the cost of knowledge exchange in consortia: network analyses of multiple relations," The Journal of Technology Transfer, Springer, vol. 47(3), pages 775-803, June.
    9. Agnihotri, Arpita & Bhattacharya, Saurabh, 2015. "Determinants of export intensity in emerging markets: An upper echelon perspective," Journal of World Business, Elsevier, vol. 50(4), pages 687-695.
    10. Akie Iriyama & Weilei Shi & John Prescott, 2014. "Frequency and directional reversal of equity ownership change in international joint ventures," Asia Pacific Journal of Management, Springer, vol. 31(1), pages 215-243, March.
    11. Iancu Octavian IONESCU & Eugeniu TURLEA, 2011. "The Financial Auditor’s Risk Behavior – The Influence of Age on Risk Behavior in a Financial Audit Context," Journal of Accounting and Management Information Systems, Faculty of Accounting and Management Information Systems, The Bucharest University of Economic Studies, vol. 10(4), pages 444-458, December.
    12. Tobias Thomas Prietzel, 2020. "The effect of emotion on risky decision making in the context of prospect theory: a comprehensive literature review," Management Review Quarterly, Springer, vol. 70(3), pages 313-353, August.
    13. Knoben, Joris & Bakker, Rene M., 2019. "The guppy and the whale: Relational pluralism and start-ups' expropriation dilemma in partnership formation," Journal of Business Venturing, Elsevier, vol. 34(1), pages 103-121.
    14. Donal Crilly, 2017. "Time and Space in Strategy Discourse: Implications for Intertemporal Choice," Strategic Management Journal, Wiley Blackwell, vol. 38(12), pages 2370-2389, December.
    15. Scott, Susan V. & Walsham, Geoff, 2002. "Banking on trust: managing reputation risk in financial service organizations," LSE Research Online Documents on Economics 33902, London School of Economics and Political Science, LSE Library.
    16. Amit Saini & Kelly Martin, 2009. "Strategic Risk-Taking Propensity: The Role of Ethical Climate and Marketing Output Control," Journal of Business Ethics, Springer, vol. 90(4), pages 593-606, December.
    17. Han Jiang & Albert A. Cannella & Jie Jiao, 2018. "Does Desperation Breed Deceiver? A Behavioral Model of New Venture Opportunism," Entrepreneurship Theory and Practice, , vol. 42(5), pages 769-796, September.
    18. Scott, Susan V. & Walsham, Geoff, 2004. "The broadening spectrum of reputation risk in organizations: banking on risk and trust relationships," LSE Research Online Documents on Economics 33900, London School of Economics and Political Science, LSE Library.
    19. Grace, Debra & Weaven, Scott, 2011. "An Empirical Analysis of Franchisee Value-in-Use, Investment Risk and Relational Satisfaction," Journal of Retailing, Elsevier, vol. 87(3), pages 366-380.
    20. Hönl, Andreas & Meissner, Philip & Wulf, Torsten, 2017. "Risk attribution theory: An exploratory conceptualization of individual choice under uncertainty," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 67(C), pages 20-27.
    21. repec:bla:jomstd:v:47:y:2010:i:s1:p:814-836 is not listed on IDEAS
    22. Kang, Qiang & Liu, Qiao, 2023. "Eliciting managerial willingness to invest: A revealed-preference approach," Journal of Business Research, Elsevier, vol. 155(PB).
    23. Maximilian Weis & Patricia Klarner, 2022. "A CEO’s Future Temporal Depth and Organizational Resilience," Schmalenbach Journal of Business Research, Springer, vol. 74(4), pages 659-693, December.
    24. Gollisch, Simon & Hedderich, Barbara & Theuvsen, Ludwig, 2016. "Reference points and risky decision-making in agricultural trade firms: A case study in Germany," DARE Discussion Papers 1609, Georg-August University of Göttingen, Department of Agricultural Economics and Rural Development (DARE).
    25. Hamid Boustanifar & Edward J. Zajac & Flladina Zilja, 2022. "Taking chances? The effect of CEO risk propensity on firms’ risky internationalization decisions," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 53(2), pages 302-325, March.

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