BORN TO TAKE RISK? THE EFFECT OF CEO BIRTH ORDER ON STRATEGIC RISK TAKING

• 成果类型: Article
• 署名作者: Campbell, Robert J.; Jeong, Seung-Hwan; Graffin, Scott D.
• 署名单位: University of Nebraska System; University of Nebraska Lincoln; University System of Georgia; Georgia State University; University System of Georgia; University of Georgia; University System of Georgia; University of Georgia
• 刊物名称: ACADEMY OF MANAGEMENT JOURNAL
• ISSN/ISSBN: 0001-4273
• DOI: 10.5465/amj.2017.0790
• 发表日期: 2019
• 页码: 1278-1306
• 关键词: CHIEF EXECUTIVE OFFICERS; family-size; SIBLING RELATIONSHIPS; UPPER ECHELONS; PSYCHOLOGICAL-RESEARCH; firm performance; business groups; RESPONSE RATES; sibship size; personality

摘要

The importance of birth order has been the subject of debate for centuries, and has captured the attention of the general public and researchers alike. Despite this interest, scholars have little understanding of the impact birth order has on CEOs and their strategic decisions. With this in mind, we develop theory that explains how CEO birth order may be associated with strategic risk taking. Drawing from evolutionary theory arguments related to birth order, we theorize that CEO birth order is positively associated with strategic risk taking; that is, earlier-born CEOs will take less risk than later-born CEOs. As evolutionary theory proposes that birth order effects are driven by sibling rivalry, we also argue that this relationship is moderated by three factors related to sibling rivalry: age gap between a CEO and the closest born sibling, CEO age, and the presence of a sibling CEO. Our results provide support for our theorizing and suggest that birth order may have important implications for organizations. We believe this study helps advance strategic management research, the broader multidisciplinary family science literature, and the much-needed cross-pollination of ideas between the two.