Browsing by Subject "Risk-taking"

Now showing 1 - 4 of 4

Open Access
Adolescent risk-taking as a function of prenatal cocaine exposure and biological sex
(Elsevier Inc., 2014) Allen, J. W. P.; Bennett, D. S.; Carmody, D. P.; Wang Y.; Lewis, M.
Objective: To examine the effects of prenatal cocaine exposure and biological sex on adolescent risk-taking while controlling for early environmental risk. Methods: Adolescents (n. = 114, mean age. = 16) were grouped according to high and low risk-taking propensity as measured by the Balloon Analogue Risk Task (BART). Prenatal cocaine exposure was assessed at birth, while environmental risk was assessed at three points during early childhood. Results: A binary regression analysis indicated that males were 3.5 times more likely than females to be high risk-takers. Biological sex and prenatal cocaine exposure interacted such that exposed males were most likely to be high risk-takers while exposed females were the least likely to be high risk-takers. This pattern held after controlling for prenatal alcohol exposure and early environmental risk. Early environmental risk did not predict adolescent risk-taking. Conclusions: These findings complement and extend earlier research demonstrating that prenatal cocaine exposure interacts with biological sex in domains related to inhibitory control, emotion regulation, antisocial behavior, and health risk behaviors during preadolescence.
Open Access
Aviation risk perception: a comparison between experts and novices
(Wiley-Blackwell Publishing, 2004) Thomson, M. E.; Önkal D.; Avcioǧlu, A.; Goodwin, P.
This article describes an exploratory investigation of the risk perceptions of experts and novices in relation to helicopter operations, under conditions where the participants are matched on various characteristics previously found to affect perceptions, such as demographic, gender, and background factors. The study reports considerable evidence of perceptual differences between the two participant groups (i.e., expert pilots and candidate pilots). We find that the experts' perceptions of relative risks are more veridical, in terms of their higher correlation with the true relative frequencies. A significant positive correlation between the flight hours and the contextual risk-taking tendency is also shown, leading the experienced pilots' choices toward risky alternatives in scenarios - a potential result of their overconfidence based on superior task performance. Possible explanations are offered for the findings and potential avenues for future research are identified.
Open Access
Collusion or governance? common ownership and corporate risk-taking
(Wiley, 2023-09-13) Yao, Shouyu; Guo, Xinyu; Şensoy, Ahmet; Goodell, John W.
Research Question Disputes over the corporate governance impacts of common ownership continue. Differentiating from existing studies, we focus on the Chinese stock market, exploiting the Top 10 Shareholding File, which includes various investors besides institutional investors, to study the impact of common ownership built through blockholders on corporate risk-taking behavior. Research Findings We find that firms with higher common ownership are less likely to engage in corporate risk-taking, with concomitant decreases in future growth rates. Mechanism analysis shows that blockholders' common ownership exerts its influence through increasing market concentration, with concomitant lessening of market competition. Interestingly, further analyses indicate that, in contrast to blockholders, ownership connectedness built by mutual fund families significantly raises corporate risk-taking along with growth. However, individual investors' common ownership does not show the significant statistical relationship with corporate risk-taking. Theoretical Implications We add to the debate on common ownership on corporate governance. Consistent with the anti-competition stream of literature, the risk-taking-reduction role we identify for blockholder common ownership supports the theory of anti-competition. Our results highlight the need to consider the heterogeneity of common ownership. Policy Implications While blockholder common ownership is evidenced to have a negative effect on corporate risk-taking, with, by extension, a negative impact on economic development, our results also suggest that efficient monitoring mitigates these effects. We also document an interesting heterogeneity in investor types. Mutual fund common ownership, in contrast to blockholder common ownership, is associated with higher risk-taking and more robust firm growth. This suggests the positive role of institutions in corporate governance and the necessity of considering the heterogeneity of common ownership.
Open Access
Gender, risk-taking and entrepreneurial intentions: assessing the impact of higher education longitudinally
(Emerald Publishing Limited, 2021-04-29) Gürel, Eda; Madanoglu, M.; Altinay, L.
Purpose This longitudinal study assesses whether higher education has the same impact on the entrepreneurial intentions of women and men with regard to their propensity to risk-taking in particular. Design/methodology/approach A self-administrated survey instrument was used to collect data from students studying business and engineering at five selected universities in Turkey. The survey was carried out in two intervals: first year and fourth year of studies. A total of 215 student participated in both waves. Findings The findings indicate that the impact of education is stronger for women than for men as the relationship between gender and entrepreneurial intention is moderated by education and risk-taking propensity in that the entrepreneurial intention of women with high or low risk-taking propensity increases when they acquire higher education. In particular, the boost is more noticeable for women with low risk-taking propensity. On the contrary, the effect of education is negative for men with both high risk-taking propensity and low risk-taking propensity. Practical implications This study has identified that the impact of education is different for women and men. Based on these findings, Turkey could offer gender-specific entrepreneurship education in higher education for individuals who could then exploit their entrepreneurial capacity and thus contribute to the social and economic well-being of the country. Originality/value This paper makes two distinct contributions. First, this is one of the few longitudinal studies in the literature which demonstrates the differences between females and males in terms of their entrepreneurial intention and shows how risk-taking and education influence entrepreneurial intention. Second, it offers new insights into entrepreneurship research from a developing-country but emerging-economy context.