Study on the Managerial Risk Preference of Chinese Listed Companies
The managerial risk preference has direct influence on corporate investment and financing decisions. We select variables under 6 aspects to construct the comprehensive evaluation system of managerial risk preference, such as manager’s asset structure, company’s asset structure, the source of the asset, the debt term structure, the matching relationship between financing and investment, the source of the profit, and so on. Then, we employ principal component analysis to evaluate the degree of listed companies’ managerial risk preference in different environments. The empirical study shows that managers with low level of risk preference are more than those with high level of risk preference. The managerial risk preference is lowest in 2008 and appears to have an initial ascent after a decline.
risk preference managers principal component analysis
WANG Yang ZHENG Chunyan HAN Weihe
School of management, China University of Mining & Technology (Beijing), China,100083 Post-doctoral Workstation, Bank of Beijing, Beijing, China,100033
国际会议
大连
英文
540-544
2012-07-07（万方平台首次上网日期，不代表论文的发表时间）