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Top Management Diversity and Risk-Taking Behavior
Yosua Samuel Ramli and Ancella Anitawati Hermawan

Magister Manajemen Fakultas Ekonomi dan Bisnis Universitas Indonesia


Abstract

Risk-taking behavior is one of important thing in running the company. Risk-taking behavior is needed especially when the company faces difficult situation. However, excessive risk-taking behavior may negatively affect the company. Risk-taking behavior is based on risk preference which differs among companies as well as individuals. At management level, diversity may be one of important factor affects risk-taking behavior. Previous literature review studied about diversity in management such as diversity in gender, age, education, experience, etc shows inconsistent results towards risk-taking behavior. Based on inconsistency of previous researches, author is interested to analyze the association between top management diversity as decision maker in the company to risk taking behavior. This research is conducted to obtain empirical evidence whether top management diversity is associated with risk-taking behavior. This research uses regression on panel data from 333 Indonesian listed non-financial companies for 3 years period from 2015 to 2017. Dependent variable of this research is risk-taking behavior. Independent variables of this research are top management diversity in gender, age, nationality, education background, and experience. Control variables of this research are company size, profitability, and growth. The result of this research shows that top management diversity in gender, age, nationality, education background, and experience are not significantly associated with risk-taking behavior. However, company characteristic such as size, profitability, and growth are significantly associated with risk-taking behavior.

Keywords: Risk-taking behavior, management diversity, management characteristic, company characteristic.

Topic: Financial Management and Accounting

Link: https://ifory.id/abstract/uE32aWbAytq7

Conference: The 4th Global Conference on Business, Management and Entrepreneurship (GCBME 2019)

Plain Format | Corresponding Author (Yosua Samuel Ramli)

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