Letting go or pushing forward: Director death and firm risk-taking

IF 7.4 2区管理学 Q1 BUSINESS Long Range Planning Pub Date : 2023-06-01 DOI:10.1016/j.lrp.2023.102322

David H. Weng , Kwang-Ho Kim

引用次数: 1

Abstract

We draw on behavioral strategy, terror management, and post traumatic growth theories to examine how a sudden director death may affect firm risk-taking. Two opposing predictions are developed. One is that a director death can trigger anxiety, prompting a CEO to become less committed to his or her job and decreasing a firm's risk-taking tendency. Alternatively, the passing of a director may evoke death reflection, inducing a CEO to pursue higher-order goals and initiate more projects with substantial uncertainties. Results based on a sample of publicly traded firms in the United States suggest that while a director death may diminish firm long-term investment, this event could fuel strategic nonconformity. Our findings suggest that the impact of director death on firm strategies could be more nuanced than the existing literature has suggested.

查看原文

微信好友朋友圈 QQ好友复制链接

本刊更多论文

放手还是前进:导演的死亡和坚定的冒险

我们利用行为策略、恐惧管理和创伤后成长理论来研究董事突然死亡如何影响公司的冒险行为。出现了两种相反的预测。一是董事去世会引发焦虑，促使首席执行官对自己的工作不那么投入，降低公司的冒险倾向。另一种情况是，一位董事的去世可能会引发死亡反思，促使CEO追求更高层次的目标，启动更多具有重大不确定性的项目。基于美国上市公司样本的结果表明，虽然董事死亡可能会减少公司的长期投资，但这一事件可能会加剧战略不一致性。我们的研究结果表明，董事死亡对公司战略的影响可能比现有文献所表明的更为微妙。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文去求助

来源期刊

Long Range Planning Multiple-

CiteScore

13.00

自引率

7.10%

发文量

期刊介绍： Long Range Planning (LRP) is an internationally renowned journal specializing in the field of strategic management. Since its establishment in 1968, the journal has consistently published original research, garnering a strong reputation among academics. LRP actively encourages the submission of articles that involve empirical research and theoretical perspectives, including studies that provide critical assessments and analysis of the current state of knowledge in crucial strategic areas. The primary user base of LRP primarily comprises individuals from academic backgrounds, with the journal playing a dual role within this community. Firstly, it serves as a platform for the dissemination of research findings among academic researchers. Secondly, it serves as a channel for the transmission of ideas that can be effectively utilized in educational settings. The articles published in LRP cater to a diverse audience, including practicing managers and students in professional programs. While some articles may focus on practical applications, others may primarily target academic researchers. LRP adopts an inclusive approach to empirical research, accepting studies that draw on various methodologies such as primary survey data, archival data, case studies, and recognized approaches to data collection.

期刊最新文献

Editorial Board Scaling-up, opening-up? Using open strategizing for navigating rapid growth Willingness to include: Enabling pro-social strategies in private settings The moderating effects of national cultural practices on the relationship between international diversification strategies and corporate environmental responsibility disclosures Editorial Board