{"id":"https://openalex.org/W2053058739","doi":"https://doi.org/10.1080/13504851.2014.927565","title":"How do powerful CEOs view corporate risk-taking? Evidence from the CEO pay slice (CPS)","display_name":"How do powerful CEOs view corporate risk-taking? Evidence from the CEO pay slice (CPS)","publication_year":2014,"publication_date":"2014-07-21","ids":{"openalex":"https://openalex.org/W2053058739","doi":"https://doi.org/10.1080/13504851.2014.927565","mag":"2053058739"},"language":"en","primary_location":{"id":"doi:10.1080/13504851.2014.927565","doi":"https://doi.org/10.1080/13504851.2014.927565","is_oa":false,"landing_page_url":"https://doi.org/10.1080/13504851.2014.927565","pdf_url":null,"source":{"id":"https://openalex.org/S96544531","display_name":"Applied Economics Letters","issn_l":"1350-4851","issn":["1350-4851","1466-4291"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-b","anvur-scientific","cwts-core","jufo-1","norway-1","poland-40","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310320547","host_organization_name":"Taylor & Francis","host_organization_lineage":["https://openalex.org/P4310320547","https://openalex.org/P4310320449"],"host_organization_lineage_names":["Taylor & Francis","Informa"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Applied Economics Letters","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5025771972","display_name":"Pandej Chintrakarn","orcid":"https://orcid.org/0000-0001-5792-5475","observed_orcids":["https://orcid.org/0000-0001-5792-5475"]},"institutions":[{"id":"https://openalex.org/I25399158","display_name":"Mahidol University","ror":"https://ror.org/01znkr924","country_code":"TH","type":"education","lineage":["https://openalex.org/I25399158"]}],"countries":["TH"],"is_corresponding":false,"raw_author_name":"Pandej Chintrakarn","raw_affiliation_strings":["Mahidol University International College, Nakhon Prathom, Thailand"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Mahidol University International College, Nakhon Prathom, Thailand","institution_ids":["https://openalex.org/I25399158"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5085978227","display_name":"Pornsit Jiraporn","orcid":"https://orcid.org/0000-0001-5480-7158","observed_orcids":["https://orcid.org/0000-0001-5480-7158"]},"institutions":[{"id":"https://openalex.org/I130769515","display_name":"Pennsylvania State University","ror":"https://ror.org/04p491231","country_code":"US","type":"education","lineage":["https://openalex.org/I130769515"]}],"countries":["US"],"is_corresponding":true,"raw_author_name":"Pornsit Jiraporn","raw_affiliation_strings":["Great Valley School of Graduate Professional Studies, Pennsylvania State University, Malvern 19355, PA, USA"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Great Valley School of Graduate Professional Studies, Pennsylvania State University, Malvern 19355, PA, USA","institution_ids":["https://openalex.org/I130769515"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5061504987","display_name":"Shenghui Tong","orcid":"https://orcid.org/0000-0002-1538-2844","observed_orcids":["https://orcid.org/0000-0002-1538-2844"]},"institutions":[{"id":"https://openalex.org/I137867983","display_name":"Central University of Finance and Economics","ror":"https://ror.org/008e3hf02","country_code":"CN","type":"education","lineage":["https://openalex.org/I137867983"]}],"countries":["CN"],"is_corresponding":false,"raw_author_name":"Shenghui Tong","raw_affiliation_strings":["Central University of Finance and Economics, Beijing, China"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Central University of Finance and Economics, Beijing, China","institution_ids":["https://openalex.org/I137867983"]}]}],"institutions":[],"countries_distinct_count":3,"institutions_distinct_count":3,"corresponding_author_ids":["https://openalex.org/A5085978227"],"corresponding_institution_ids":["https://openalex.org/I130769515"],"apc_list":null,"apc_paid":null,"fwci":4.2438,"has_fulltext":false,"cited_by_count":32,"citation_normalized_percentile":{"value":0.94782789,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":89,"max":98},"biblio":{"volume":"22","issue":"2","first_page":"104","last_page":"109"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9945999979972839,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9945999979972839,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12276","display_name":"Risk Management in Financial Firms","score":0.0010000000474974513,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12225","display_name":"Political Influence and Corporate Strategies","score":0.0005000000237487257,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/ceo-power","display_name":"CEO power","score":0.9089999794960022},{"id":"https://openalex.org/keywords/corporate-risk-taking","display_name":"corporate risk-taking","score":0.8999999761581421},{"id":"https://openalex.org/keywords/ceo-pay-slice","display_name":"CEO pay slice","score":0.9769999980926514},{"id":"https://openalex.org/keywords/executive-compensation","display_name":"executive compensation","score":0.703000009059906},{"id":"https://openalex.org/keywords/risk-aversion","display_name":"risk aversion","score":0.902999997138977},{"id":"https://openalex.org/keywords/executive-decision-making","display_name":"executive decision-making","score":0.6930000185966492},{"id":"https://openalex.org/keywords/corporate-governance","display_name":"corporate governance","score":0.3409999907016754}],"concepts":[{"id":"https://openalex.org/C610760","wikidata":"https://www.wikidata.org/wiki/Q1340706","display_name":"Endogeneity","level":2,"score":0.8242449760437012},{"id":"https://openalex.org/C46355384","wikidata":"https://www.wikidata.org/wiki/Q726686","display_name":"Compromise","level":2,"score":0.6061351299285889},{"id":"https://openalex.org/C129915516","wikidata":"https://www.wikidata.org/wiki/Q17083550","display_name":"Risk aversion (psychology)","level":3,"score":0.5750133991241455},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.4986720085144043},{"id":"https://openalex.org/C151392489","wikidata":"https://www.wikidata.org/wiki/Q5419946","display_name":"Executive compensation","level":3,"score":0.47821852564811707},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.44322431087493896},{"id":"https://openalex.org/C28719098","wikidata":"https://www.wikidata.org/wiki/Q44946","display_name":"Point (geometry)","level":2,"score":0.42920973896980286},{"id":"https://openalex.org/C163258240","wikidata":"https://www.wikidata.org/wiki/Q25342","display_name":"Power (physics)","level":2,"score":0.4192239046096802},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.34760698676109314},{"id":"https://openalex.org/C121955636","wikidata":"https://www.wikidata.org/wiki/Q4116214","display_name":"Accounting","level":1,"score":0.34505826234817505},{"id":"https://openalex.org/C162118730","wikidata":"https://www.wikidata.org/wiki/Q1128453","display_name":"Actuarial science","level":1,"score":0.3403303921222687},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.33503609895706177},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.32217976450920105},{"id":"https://openalex.org/C29122968","wikidata":"https://www.wikidata.org/wiki/Q1414816","display_name":"Incentive","level":2,"score":0.18816834688186646},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.18227708339691162},{"id":"https://openalex.org/C205706631","wikidata":"https://www.wikidata.org/wiki/Q2319304","display_name":"Expected utility hypothesis","level":2,"score":0.15181314945220947},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.0818762481212616},{"id":"https://openalex.org/C33923547","wikidata":"https://www.wikidata.org/wiki/Q395","display_name":"Mathematics","level":0,"score":0.0},{"id":"https://openalex.org/C121332964","wikidata":"https://www.wikidata.org/wiki/Q413","display_name":"Physics","level":0,"score":0.0},{"id":"https://openalex.org/C62520636","wikidata":"https://www.wikidata.org/wiki/Q944","display_name":"Quantum mechanics","level":1,"score":0.0},{"id":"https://openalex.org/C2524010","wikidata":"https://www.wikidata.org/wiki/Q8087","display_name":"Geometry","level":1,"score":0.0},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.1080/13504851.2014.927565","doi":"https://doi.org/10.1080/13504851.2014.927565","is_oa":false,"landing_page_url":"https://doi.org/10.1080/13504851.2014.927565","pdf_url":null,"source":{"id":"https://openalex.org/S96544531","display_name":"Applied Economics Letters","issn_l":"1350-4851","issn":["1350-4851","1466-4291"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-b","anvur-scientific","cwts-core","jufo-1","norway-1","poland-40","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310320547","host_organization_name":"Taylor & Francis","host_organization_lineage":["https://openalex.org/P4310320547","https://openalex.org/P4310320449"],"host_organization_lineage_names":["Taylor & Francis","Informa"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Applied Economics Letters","raw_type":"journal-article"},{"id":"pmh:oai:RePEc:taf:apeclt:v:22:y:2015:i:2:p:104-109","doi":null,"is_oa":false,"landing_page_url":"http://hdl.handle.net/10.1080/13504851.2014.927565","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"}],"best_oa_location":null,"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":14,"referenced_works":["https://openalex.org/W1531341052","https://openalex.org/W1993663609","https://openalex.org/W2026153871","https://openalex.org/W2112216083","https://openalex.org/W2146763023","https://openalex.org/W2160184254","https://openalex.org/W3123282572","https://openalex.org/W3124070742","https://openalex.org/W3124663310","https://openalex.org/W3124807495","https://openalex.org/W3124994246","https://openalex.org/W3125349408","https://openalex.org/W3126117480","https://openalex.org/W4299846046"],"related_works":["https://openalex.org/W2339161420","https://openalex.org/W3179894614","https://openalex.org/W4387990125","https://openalex.org/W2901717386","https://openalex.org/W6980498054","https://openalex.org/W3032918679","https://openalex.org/W4224285194","https://openalex.org/W2766705049","https://openalex.org/W2617587099","https://openalex.org/W2137689514"],"abstract_inverted_index":{"We":[0,82],"explore":[1],"the":[2,8,54,85,95],"role":[3],"of":[4,10,98],"powerful":[5,42],"CEOs":[6,43],"on":[7,23],"extent":[9],"risk-taking,":[11],"using":[12],"Bebchuk,":[13],"Cremers":[14],"and":[15,78],"Peyer\u2019s":[16],"(2011)":[17],"CEO":[18,55,86],"pay":[19],"slice":[20],"(CPS).":[21],"Based":[22],"more":[24,79,102],"than":[25],"12,000":[26],"observations":[27],"over":[28],"20":[29],"years":[30],"(1992\u20132012),":[31],"our":[32,110],"results":[33,111],"reveal":[34],"a":[35,61],"nonmonotonic":[36],"association.":[37],"In":[38],"particular,":[39],"relatively":[40],"less":[41,49,66,75],"exhibit":[44],"risk":[45],"aversion,":[46],"resulting":[47],"in":[48],"risky":[50,80],"strategies.":[51,81],"However,":[52],"when":[53],"has":[56,87],"his":[57],"power":[58],"consolidated":[59],"beyond":[60],"certain":[62],"point,":[63],"he":[64],"is":[65,104],"likely":[67],"to":[68,74,88,115],"compromise":[69],"with":[70],"other":[71],"executives,":[72],"leading":[73],"moderate":[76],"decisions":[77],"estimate":[83],"that":[84,92,109],"wield":[89],"considerable":[90],"power,":[91],"is,":[93],"around":[94],"75th":[96],"percentile":[97],"CPS,":[99],"before":[100],"significantly":[101],"risk-taking":[103],"observed.":[105],"Finally,":[106],"we":[107],"show":[108],"are":[112],"unlikely":[113],"vulnerable":[114],"endogeneity.":[116]},"counts_by_year":[{"year":2026,"cited_by_count":4},{"year":2025,"cited_by_count":4},{"year":2024,"cited_by_count":3},{"year":2023,"cited_by_count":4},{"year":2022,"cited_by_count":2},{"year":2021,"cited_by_count":4},{"year":2020,"cited_by_count":4},{"year":2019,"cited_by_count":2},{"year":2018,"cited_by_count":2},{"year":2017,"cited_by_count":1},{"year":2016,"cited_by_count":1},{"year":2015,"cited_by_count":1}],"updated_date":"2026-11-01T11:40:01.658920","created_date":"2016-06-24T00:00:00"}
