Why Managers and Companies Take Risks by Les ColemanWhy Managers and Companies Take Risks by Les Coleman

Why Managers and Companies Take Risks

byLes Coleman

Paperback | June 7, 2006

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This book uses risk in its dictionary meaning as the probabiHty of an unde­ sirable outcome, and has two research questions: when managers make de­ cisions, what leads them to choose a risky alternative? and: what deter­ mines whether the decision proves correct? Answers to these questions form a model of decision making that explains the process and results of managers' risk-taking in the real world. There is an extensive literature on risk and decision making because the topic has been of interest in many disciplines since at least the 18^^ century. Thus insights on the research questions are available from studies of ani­ mals, humans and organisations; and have been drawn by scholars in biol­ ogy, psychology, finance and management. Even so, there is a large gap as most studies are conducted away from corporate settings and use subjects with limited decision experience. The few studies set in real-world condi­ tions tend to concentrate on just a single aspect of decision makers' attrib­ utes, setting and behaviour, and on either decision choices or outcomes. The empirical work in this book is designed to fill part of this gap.
Title:Why Managers and Companies Take RisksFormat:PaperbackDimensions:349 pagesPublished:June 7, 2006Publisher:Springer NatureLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:3790816957

ISBN - 13:9783790816952

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Table of Contents

Introduction.- Theory of Risk and Decision Making in Management.- Behavioural Evidence on Risk and Decision Making.- Real-World Decision Making Under Risk.- Risk-Taking and Organisation Performance.- Published Models of Decision Making Under Risk.- Why Managers Take Risks.- How Companies Control Risks.- Summary and Discussion.- Risk Budget Theory.- Conclusions.- Appendix - Copy of Survey Materials.