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Foreign Experience of CEOs and Managerial Risk Taking

Author

Listed:
  • Siew-Boey Yeoh

    (Universiti Sains Malaysia)

  • Chee-Wooi Hooy

    (Universiti Sains Malaysia)

Abstract

Our paper uses a multidimensional analysis to provide a better insight on the relationship between CEO foreign experience and corporate risk-taking. By decomposing the foreign experience of CEOs from developing economies such as Malaysia, we find that CEOs who have studied in OECD countries undertake higher levels of risk-taking and CEOs’ foreign working experience may have an adverse effect on risk-taking behaviour especially if the working experience is obtained from non-OECD countries. Additional analysis reveals that younger CEOs and family CEOs with foreign working experience matter in reinforcing the firms’ risk-taking activities. Overall, our findings provide implication for researchers and policymakers seeking to nurture risk-taking behaviours and innovativeness in emerging countries.

Suggested Citation

  • Siew-Boey Yeoh & Chee-Wooi Hooy, 2021. "Foreign Experience of CEOs and Managerial Risk Taking," Malaysian Journal of Economic Studies, Faculty of Business and Economics, University of Malaya & Malaysian Economic Association, vol. 58(2), pages 239-265, December.
    • Handle: RePEc:mjr:journl:v:58:y:2021:i:2:p:239-265
    DOI: 10.22452/MJES.vol58no2.4
    as

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    More about this item

    Keywords

    CEOs foreign experience; risk-taking; spillover effect; OECD countries;
    All these keywords.

    JEL classification:

    • G31 - Financial Economics - - Corporate Finance and Governance - - - Capital Budgeting; Fixed Investment and Inventory Studies
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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