Demographics/Job Characteristics of Top Managers, Corporate Risk and Organizational Outcomes

This study aims to analyze the relationship between demographics and job characteristics of top managers and their tolerance or aversion to corporate risk. From the Amadeus -Bureau van Dijk database were collected data about the gender, age, educational background, job duality and job tenure of 1,045 top managers. The results suggest that executives (CEOs and non-CEOs) with formal education in the areas of management and law, as well as the tenure in the organization, are negatively related to risk-propensity behaviors. On the other hand, the age and female gender of top managers are characteristics that are positively related to risk propensity.