Decoupling Risk Taking from Income Stream Uncertainty : A Holistic Model of Risk  

Oleh:

Palmer, Timothy B. ; Wiseman, Robert M.

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: Strategic Management Journal vol. 20 no. 11 (1999), page 1037-1062.
Topik: risk taking; risk - taking; performance volatility; risk -return; structural equation; modelling

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: SS30.4 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

This paper builds and tests a holistic model of risk in organizations. Using structural equations modelling, we disaggregated risk into two distinct components, managerial risk taking and income stream uncertainty, or organizational risk. This allowed us to identify an array of organizational and environmental antecedents that have either been examined in isolation or environmental factors promote risk taking. Further, we found strong support for behavioural theory of the firm and agency theory on risk but not upper echelons theory. Our data also suggest that environmental characteristics have a neglible direct effect on organizational risk. Instead, the environment's impact on risk occurs primarily through managerial choices.

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