Which executive characteristics influence risk-taking behaviours: evidence from Taiwanese companies

Drawing on motivation and behavioural theories, this study develops a three-way interactive model to examine the antecedents and moderators regarding chief executive officer (CEO) risk-taking. Our sample consists of 136 observations of Taiwanese firms from primary and secondary sources. Using hierarchical regression analysis, we confirm that the relationship between CEO shareholdings and CEO risk-taking is positively moderated by approach orientation but negatively moderated by avoidance orientation. Furthermore, firm complexity strengthens the positive moderating effect of approach orientation.