CEO Personal Risk-Taking and Corporate Policies

By Matthew D. Cain, Stephen B. McKeon. 2016

400 citations recorded by the source corpus.

Subfields: Accounting, Finance, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/7516a6840a25073a825949e85bebbafce38e3151

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Accounting

1. Shavin Malhotra
2. Usman Ali
3. M. Humphery‐Jenner
4. Jonathan Bundy
5. Vikram K. Nanda
6. Lorenz Graf‐Vlachy
7. Pengcheng Zhu
8. T. Reus

In Finance

1. Usman Ali
2. M. Humphery‐Jenner
3. Vikram K. Nanda
4. Suman Banerjee
5. T. Reus
6. E. Roelofsen
7. Lorenz Graf‐Vlachy
8. David A. Hirshleifer

In Strategy and Management

1. Jonathan Bundy
2. Shavin Malhotra
3. Lorenz Graf‐Vlachy
4. T. Reus
5. M. Humphery‐Jenner
6. David A. Hirshleifer
7. R. Davidson
8. Usman Ali

Citations in the corpus

• The Acquisitive Nature of Extraverted CEOs (2017, background): “Risk-taking CEOs may also be more acquisitive, and in accordance with Cain and McKeon (2016), we measured CEO risk-taking preference by identifying CEOs who hold aircraft pilot licenses.”
• Executives' “off-the-job” behavior, corporate culture, and financial reporting risk (2015, positive): “Cain and McKeon (2012) argue that overconfidence leads to increased overall risk-taking and more frequent M&A activity, while Schrand and Zechman (2012) find that overconfident CEOs are more likely to initially overstate earnings by small, within Generally Accepted Accounting Principles (GAAP) amoun”
• Pilot CEOs and Corporate Innovation (2017, neutral): “More recently, Cain and McKeon (2016) employ pilot certification to proxy for CEO personal risk-taking.”
• Corporate Policies of Republican Managers (2014, neutral): “…evidence of behavioral consistency in corporate decisions, where behavioral patterns of managers are identified based on personal home mortgage leverage (Cronqvist et al. (2012)), personal tax decisions (Chyz (2013)), and sensation seeking proxied by a pilot license (Cain and McKeon (2014)).”
• Effects of an Advancing Tenure on CEO Cognitive Complexity (2020, methodology): “Among our moderators, to measure systemic industry dynamism we took inspiration from the finance literature (Cain and McKeon 2016, Guenther et al. 2016) and constructed a measure based on the long-term, or inherent, degree of volatility of stock returns in each industry.”
• Opportunism as a Firm and Managerial Trait: Predicting Insider Trading Profits and Misconduct (2017, background): “Cain and McKeon (2016) report that firms managed by CEOs who personally pilot small aircraft have higher leverage and return volatility, consistent with sensation seeking.”
• Restraining Overconfident CEOs through Improved Governance: Evidence from the Sarbanes-Oxley Act (2015, positive): “Overconfident CEOs also engage in increased personal and corporate risk-taking (see e.g., Cain and McKeon, 2013).”