The effects of CEO equity ownership and firm diversification on risk taking
研究了CEO股权持有和企业多元化如何影响公司的风险承担与规避行为，通过对美国有线电视行业并购的计量分析来检验假设。
Abstract This research explores the effects of CEO equity ownership and corporate diversification on firms' risk‐taking and risk avoidance behaviors. Hypotheses regarding these effects are tested through econometric analysis of mergers in the U.S. cable television industry. Risk taking and avoidance are measured as horizontal expansion through acquisitions and as the divestiture of assets, respectively, in the face of increasing environmental turbulence. Copyright © 2002 John Wiley & Sons, Ltd.