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An Operationalisation of Managerial Risk-Taking and its Performance Implications in the Tunisian Context

Author

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  • Amel Belanes

    (Amel Belanes, Fiesta, Institut Supérieur de Gestion Résidence Rym 1 Bloc P App 123 Cité Les oasis El Agba 0021698979275. E-mail: amel_bns@yahoo.fr)

  • Rym Hachana

    (Rym Hachana, Fiesta, Institut Supérieur de Gestion Résidence Donia Bloc Selma S5A 1013 El Menzah 9 B 0021621863057. E-mail: hachana_rym@yahoo.fr)

Abstract

This article assesses managerial risk-taking and their performance in the Tunisian context. Drawing on a Tunisian sample of 46 listed companies during 1997–2006, our modelling offers a factor score of managerial risk-taking which takes into account both financial and strategic dimensions. We find that the Tunisian firms tend to be more conservative and risk-averse, which might lead to performance decline. Our analysis also highlights a non-linear relationship between managerial risk-taking and performance.

Suggested Citation

  • Amel Belanes & Rym Hachana, 2009. "An Operationalisation of Managerial Risk-Taking and its Performance Implications in the Tunisian Context," Journal of Emerging Market Finance, Institute for Financial Management and Research, vol. 8(3), pages 289-314, September.
    • Handle: RePEc:sae:emffin:v:8:y:2009:i:3:p:289-314
    DOI: 10.1177/097265270900800303
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    References listed on IDEAS

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    Cited by:

    1. Benedict Valentine Arulanandam & Christo Selvan & Goh Xin Tong, 2023. "Critical Factors Influencing Firms' Risk-Taking Behaviour: CEO Characteristics and the Moderating Role of the Audit Committee," Central European Business Review, Prague University of Economics and Business, vol. 2023(5), pages 1-41.

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    More about this item

    Keywords

    JEL Classification: D81; JEL Classification: G30; JEL Classification: M13; Managerial risk-taking; entrepreneurial orientation; performance Tunisian firms;
    All these keywords.

    JEL classification:

    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups

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